Barry Diller’s IAC/InterActiveCorp is reportedly eyeing a sale of its online video service Vimeo. The company, which operates a number of content businesses including Electus and CollegeHumor as well as Ask.com and Match.com, is looking to raise US$50 million (€38 million) in a new funding round that would see it spin off the site.
IAC would look to keep a 50% non-controlling stake in the business, with 25% going to new investors and 25% going to the management team. Vimeo was launched in 2004 by Jake Lodwick and Zach Klein and was acquired by IAC in August 2006 as part of its acquisition of Connected Ventures. It has around 65 million unique users per month and more than eight million registered users.
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27 January 2021 @ 18:24:00 UTC