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Vimeo will become an independent company thanks to the rapid growth experienced during the pandemic

IAC, the huge holding company technological and communicative owner of Vimeo, has decided to let this platform fly on its own. The group controlled the professional alternative to YouTube since shortly after its birth and now, still suffering from the effects of the pandemic, has decided to continue alone.

Specifically, the Board of Directors of this company listed on the NASDAQ has approved a plan to assign their full stake in Vimeo to their shareholders. "Upon completion, Vimeo will become an independent public company, the 11th company of its kind to emerge from IAC and its predecessors," they explain. The reason is its boom during this crisis.

Vimeo has experienced rapid growth in recent months due to the pandemic

The spin-off, if all goes according to plan by IAC, expected to be completed in the second quarter of 2021. The idea is that the transaction is a reclassification of the shares of the holding companytherefore, IAC shareholders will receive a proportional amount of Vimeo shares.

Vimeo, much more than an alternative to YouTube

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Vimeo stopped competing as just another video platform years ago. He tried to change the chip trying to sell tools aimed at creators, not forgetting his initial orientation: orient yourself to audiovisual professionals who were looking for a more careful, customizable service adapted to their needs.

His attempts to resemble YouTube with some characteristics did not work and he focused on what he knew how to do. Out of the bet, in view of this move, reasonably well thanks to the satisfaction of demanding needs. We are talking about playback customization, the possibility of renting or selling movies, integration with Google Analytics or other features valued by its users.

In early November, Vimeo achieved a valuation of $ 2.75 billion.

Thus was born youtube-dl in an Asturian town, motivated by a 56k modem connection in the middle of 2006

Currently, according to the data disclosed by the owner company, Vimeo has 200 million users. It is not specified if they are monthly users, for example, only the rapid growth during the pandemic is exemplified, ensuring that in the last seven months they have added 30 million more members, more than 60 million videos have been uploaded and have experienced a sharp increase in live broadcasting. "More than the previous 3 years together," they say.

Vimeo has achieved a valuation of US $ 2.75 billion as of early November, according to IAC, after raising US $ 150 million in shares of Thrive Capital and GIC.