The use of words such as "anticipates," "estimates," "expects," "plans" and "believes," among others, generally identify forward-looking statements. This communication may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company is headquartered in New York City and has business operations and satellite offices worldwide.Ĭautionary Statement Regarding Forward-Looking Information IAC today operates Vimeo, Dotdash and, among many others, and has majority ownership of Angi Inc., which also includes HomeAdvisor Powered by Angi and Handy. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. From the single seed that started as IAC over two decades ago have emerged 10 public companies and generations of exceptional leaders. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. The final vote results on all proposals voted on at the annual meeting will be set forth in a Form 8-K filed by IAC upon final certification by the inspector of elections. Subject to the final approval of the IAC board of directors, IAC expects that Vimeo will trade on Nasdaq on a "when-issued" basis (ticker symbol "VMEOV") from May 18 through May 24, 2021. IAC anticipates the spin-off will be completed prior to the open of business on Tuesday, May 25, 2021, subject to the satisfaction or waiver of all closing conditions, and that Vimeo will begin trading on Nasdaq (ticker symbol "VMEO") that day. The company said it expects year-over-year revenue growth of around 40% in the second quarter, decelerating to 30% growth through the end of 2021, before accelerating in 2022 “as the investments from this year start to show results,” said CFO Narayan Menon.NEW YORK, /PRNewswire/ - IAC (NASDAQ: IAC) today announced that, at its stockholder meeting held today, IAC stockholders voted to approve the separation of Vimeo from the remaining businesses of IAC. In reporting results May 5, Vimeo told investors that it will increase its investments in 2021 and that it doesn’t expect to be profitable for the full year on an adjusted EBITDA basis. The New York-based company held $316 million in cash and equivalents and no debt as of March 31. ![]() It has more than 200 million users and as of the end of March had 1.6 million paying subscribers, up 25% year over year.įor the first quarter of 2021, Vimeo reported $89.4 million (up 57% from the year prior) and net income of $3.3 million (compared with a net loss of $20.3 million in Q1 2020). Vimeo provides a suite of video tools for businesses and independent creators. ![]() Looking ahead, as an independent public company, we are well positioned to keep innovating with urgency to expand our software suite and put the full power of video in the hands of every business and team in the world.” Prior to Vimeo’s stock trading on Tuesday, Vimeo CEO Anjali Sud ( pictured above) said in a statement, “This is a proud moment for Vimeo, but just the beginning. Competitors range from YouTube to smaller video-hosting providers like Brightcove and Kaltura. “We think Vimeo’s biggest challenge will be a myriad of competitors from a variety of angles as the shift to video streaming comes in many forms,” BMO Capital Market analyst Dan Salmon wrote in a research note earlier this month.
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