Vimeo, a video sharing service, is gaining great support from creators who deliver content that can be viewed for free without ads. Vimeo was a long-time media internet company IAC subsidiary founded in 2004, but with Corona 19 on its back, its business grew significantly in 2020, and plans to become an independent listed company in 2021.
Vimeo says the number of users is 200 million as of December 2020, but this number has grown significantly between March and October 202. According to Vimeo CEO Anjali Sud, the growth rate is greater than the last three years combined.
In addition, Vimeo is providing an enterprise platform for companies to conduct in-house training or for large-scale virtual events, and new ways of using it are expanding demand. Accordingly, in November 2020, it announced a large-scale funding.
Subsequently, on December 22 (local time), the IAC announced plans to raise Vimeo as an independent listed company in 2021. If it is reviewed and approved at the general shareholders’ meeting in the first quarter of 2021, it will be listed in the second quarter. Vimeo’s market cap is estimated at $2.75 billion, 10 times its annual sales. Until now, IAC has taken a way to grow its owned companies and, when they mature, make them independent and publicly available to create greater value. Vimeo is the 11th company to be independent from IAC. Related information can be found here .