Vimeo To Become Stand-Alone Company In 2021; Spinoff News Lifts IAC Shares
Shares in Interactive Corp. rose 14% after the company said its video subsidiary Vimeo will be spun off into its own company in 2021.
According to the release Vimeo moved from being a competitor of Youtube to software services for video hosting in 2020 that is leading up to the move for Vimeo as a Stand-Alone company.