id ="blog" class="post-template-default single single-post postid-5534 single-format-standard main">
Home » Uncategorized » Vimeo Raises $300 Million, Valuation Tops $5 Billion Forward of IAC’s Deliberate By-product

Vimeo Raises $300 Million, Valuation Tops $5 Billion Forward of IAC’s Deliberate By-product

Vimeo mentioned it raised $300 million in new fairness investment — giving it a valuation north of $5 billion — forward of mother or father corporate IAC’s deliberate by-product of the video internet hosting and services and products corporate.

The brand new funding in Vimeo got here from T. Rowe Value Team and Oberndorf Enterprises. Remaining month, Barry Diller’s IAC introduced plans to spin off its complete stake in Vimeo, which got here after Vimeo raised about $150 million from Thrive Capital and GIC.

The brand new funding befell 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, in line with Vimeo. IAC recently expects to finish the by-product of Vimeo early in the second one quarter of 2021.

In December 2020, Vimeo year-over-year earnings expansion of 57%, the unit’s quickest expansion for the 12 months. In keeping with IAC’s Q3 effects, Vimeo used to be winning and grew earnings 44% to $75 million for the quarter.

Vimeo supplies a collection of video gear for companies of all sizes, together with endeavor shoppers reminiscent of Amazon, Starbucks, Deloitte, Zendesk, Ceremony Assist and Siemens. All advised, the corporate has greater than 200 million customers in additional than 190 international locations, of which about 1.5 million of include paying subscribers.

“As the sector embraces video like by no means prior to, Vimeo is in a shockingly robust place to lend a hand extra companies profit from this robust medium,” Vimeo CEO Anjali Sud mentioned in a observation. “We have now constructed an industry-leading resolution that the marketplace wishes, and we intend to transport all of a sudden to deliver our professional-quality gear to tens of millions extra customers.”

Add a Comment

Your email address will not be published. Required fields are marked *