Video distribution platform 'Vimeo' is expected to become independent and listed in 2021

The video sharing service ' Vimeo ' allows you to watch videos for free without ads, and has gained a lot of support from creators who distribute content. Vimeo was founded in 2004 and has been a subsidiary of IAC, a media and internet company for many years, but said that the business grew significantly in 2020 with the support of the pandemic of the new coronavirus infection (COVID-19). The IAC has announced plans to become an independent listed company in 2021.

IAC Announces Plan to Spin-Off Vimeo to IAC Shareholders

IAC shares jump after Vimeo spinoff announcement

Vimeo is becoming a standalone company after booming during the pandemic --The Verge

Vimeo is said to have 200 million users as of December 2020, but the number of users has grown significantly between March and October 2020. That growth rate is faster than the last three years combined, said Vimeo CEO Anjali Sud.

In addition, Vimeo provides a corporate platform for businesses to educate themselves or hold large-scale virtual events, and is expanding demand with new ways of using it. In response to this, it was announced in November 2020 that it had completed raising 16 billion yen.

Video sharing service 'Vimeo' reports the completion of 16 billion yen funding --GIGAZINE

And on December 22, 2020, IAC announced plans to make Vimeo an independent listed company in 2021. It will be considered at the shareholders' meeting in the first quarter of 2021, and if approved, it will be listed in the second quarter.

Vimeo's market capitalization is estimated at $ 2.75 billion, which is about 10 times its annual revenue. Until now, IAC has taken the method of growing companies within the holding group and making them independent and listed in order to create greater value when they mature, and Vimeo is said to be the 11th company to become independent from IAC. That is.

in Web Service, Posted by darkhorse_log