Video star

2 February 2021 By Jennifer Saba Follow @jennifersaba

The IAC-owned platform doubled its private market value to $6 bln in three months. That may rise further when Barry Diller’s group spins it off, given the boom in subscriptions sold to Starbucks and such. Vimeo could follow Slack as a target for business-focused tech giants.

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Vimeo said on Jan. 25 it had raised $300 million in funding from T. Rowe Price and Oberndorf Enterprises. The video software company owned by IAC/InterActiveCorp will receive the investment in two tranches at a pre-money valuation of up to $5.7 billion.

Vimeo in November raised $150 million from Thrive Capital and GIC at a $2.75 billion valuation.

IAC said on Dec. 22 it plans to spin off its full stake of Vimeo.

IAC reported that Vimeo's revenue for the three quarters ending Sept. 30 rose to $199 million, up 41% compared to the same period in 2019, with the number of subscribers up 21% to 1.5 million. It reported a loss of $44.8 million compared to a loss of $60.6 million for the same period in 2019.

IAC is set to report full-year 2020 earnings on Feb. 3.

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Vimeo in November raised $150 million from Thrive Capital and GIC at a $2.75 billion valuation.

IAC said on Dec. 22 it plans to spin off its full stake of Vimeo.

IAC is set to report full-year 2020 earnings on Feb. 3.

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