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IAC’s Video Platform Vimeo Raises $150 Million From Thrive, GIC

Nov. 5, 2020, 9:05 PM

Barry Diller’s IAC/InterActive Corp. said ts online video platform Vimeo raised $150 million from Thrive Capital and Singapore’s sovereign wealth fund GIC, valuing the unit at $2.75 billion.

The capital will be used to fund investments in research and development, sales and international expansion, the company said in a statement Thursday. IAC is also considering spinning the unit off to shareholders.

“Fourteen years ago, we acquired Vimeo as part of a small collection of assets for very little capital, and through the creativity, grit, and sheer talent of a group of leaders at Vimeo, the business has become a real ...

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