Vimeo is becoming a standalone company after booming during the pandemic
Vimeo is being spun off into a standalone public company as the video streaming site sees rapid growth brought on by the pandemic. Since shortly after its founding, Vimeo has been owned by IAC, the enormous tech and media holding company behind Angie’s List, Ask, Dotdash (formerly About.com), and, until recently, the dating app juggernaut Match Group.
IAC expects to complete the spinoff of Vimeo in the second quarter of 2021. “It’s time for Vimeo to spread its wings and become a great independent public company,” Joey Levin, IAC CEO, said in a press release. The spinoff is supposed to help Vimeo raise money to further invest in product and sales capabilities.