All-in-one video software solution Vimeo has begun trading on Nasdaq under the symbol “VMEO”. As a result of the spin-off, IAC Shareholders will directly hold interest in Vimeo. That is, the video software is a public company now. The video solution is the 11th public company to emerge from IAC. The IAC model has created $100 billion of shareholder value over the course of 25 years.
“It appears there is validation in repetition,” said Barry Diller, Chairman and Senior Executive of IAC. “On to the 12th,” he further added. Reiterating the idea, IAC CEO and Vimeo Chairman Joey Levin said, “The evolution of Vimeo into a thriving independent public company is the embodiment of the IAC way. 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 favourite part—building the next one.”
Vimeo is one of the world’s leading SaaS video company. It serves the essential video needs of every business - a $70 billion market opportunity by 2024. The video platform further enables any business - from Fortune 500s to local shops - to harness the power of video in countless ways to better create, communicate, and collaborate. It recently also announced its latest innovation for enterprise workforces, Video Library; a secure video hub for companies of all sizes.
Anjali Sud, CEO of Vimeo said, “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 us, but just the beginning. Looking ahead, as an independent public company, we will 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 us. It speaks to the power of video and also its profound impact on people and businesses around the world. This day is the culmination of hard work, passion and focuses from teams across the globe. We’re thrilled by the opportunity to expand our local footprint in India. It will help take the company into the future by building best-in-class video tools,” commented Dayananda Nanjundappa. Nanjundappa is the SVP of Platform and Technology and Head of India Operations at Vimeo.