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Vimeo Raises $300 Million of Equity
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NEW YORK, Jan. 25, 2021 /PRNewswire/ Vimeo, an IAC (NASDAQ: IAC) business and the world s leading video software company, today announced it raised $300 million in primary equity from funds and accounts advised by T. Rowe Price Associates, Inc. and Oberndorf Enterprises, LLC at a valuation in excess of $5 billion. This follows the November 2020 announcement of the company s $150 million equity raise and IAC s plan to spin-off Vimeo into an independent, separately-traded public company.
(PRNewsfoto/Vimeo)
The new investment occurred in two tranches, consisting of $200 million at a $5.2 billion pre-money valuation and $100 million at a $5.7 billion pre-money valuation. The capital will provide Vimeo with additional cash to accelerate its investments in growth, innovation and talent. Subject to necessary stockholder approvals and the final approval of the IAC board of directors, IAC expe
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NEW YORK, Dec. 22, 2020 /PRNewswire/ IAC (NASDAQ: IAC) announced today its Board of Directors has approved a plan to spin-off its full stake in Vimeo, the world s leading video software company, to IAC shareholders. Upon completion, Vimeo will become an independent, separately-traded public company, the 11
th such company to emerge from IAC and its predecessors. IAC plans to hold a stockholder meeting in the first quarter of 2021 to review and approve a proposal to implement the spin-off, which, if approved, is expected to occur in the second quarter of 2021.
The transaction is anticipated to take the form of a reclassification of IAC shares, with the effect of IAC stockholders receiving a proportionate amount of Vimeo stock. The proposed transaction is intended to qualify as tax-free to IAC and its stockholders for US federal income tax purposes. Further details will be provided in a registration statement on Form S-4 relating to the tr
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