International: Vimeo, an all-in-one video software solution will begin trading today on Nasdaq under the symbol “VMEO.” As a result of the spin-off, IAC’s interest in Vimeo is now held directly by IAC shareholders, and Vimeo is a separate, publicly-traded company.
Vimeo is the 11th public company to emerge from IAC in a continuation of a model that has created $100 billion of shareholder value over the course of 25 years, dating back to when Barry Diller took the helm of Silver King Communications, an early predecessor to IAC with a $250 million market capitalization in1995.
“It appears there is validation in repetition,” said Barry Diller, Chairman and Senior Executive of IAC. “On to the 12th.”
“The evolution of Vimeo into a thriving independent public company is the embodiment of the IAC way,” said IAC CEO and Vimeo Chairman Joey Levin. “We are enormously grateful to all the brilliant people, beginning with Jacob Lodwick many years ago, who’ve made this journey possible. Now we get back to our favorite part—building the next one.”
Said Anjali Sud, CEO of Vimeo, “As a video software solution serving more than 200 million professionals, teams, and organizations, Vimeo is making professional-quality video far easier and more effective than ever before. This is a proud moment for Vimeo, but just the beginning. Looking ahead, as an independent public company, we are well-positioned to keep innovating with urgency to expand our software suite and put the full power of video in the hands of every business and team in the world.”
“This is a huge milestone for Vimeo that speaks to the power of video and its profound impact on people and businesses around the world. This day is the culmination of hard work, passion and focus from a team located across the globe, and we’re thrilled by the opportunity to expand our local footprint in India and help take Vimeo into the future by building best-in-class video tools.’ commented Dayananda Nanjundappa is SVP of Platform and Technology and Head of India Operations at Vimeo.