![]() ![]() We’re ready for this next chapter and focused on making video far easier and more effective than ever before. “Our all-in-one solution radically lowers the barriers of time, cost and complexity that previously made professional-quality video unattainable. “Today we have a rare opportunity to help every team and organization in the world integrate video throughout their operations, across all the ways they communicate and collaborate,” said Vimeo CEO Anjali Sud in a statement. ![]() CEO Anjali Sud has transformed the near-forgotten Vimeo into a 6 billion blockbuster business that lets both mom-and-pop shops and giant corporations shoot, edit and post millions of videos across. Vimeo is being spun off into a standalone. Only about 1 percent of Ally customers have ever incurred overdraft charges, but those affected tend to live paycheck to paycheck. Vimeo was always YouTube’s weird, flailing, artsy cousin until a thirty-something CEO stepped in and figured out how to make it a cash cow. Since joining The Verge in 2012, he’s published 5,000+ stories and is the founding editor of the creators desk. THE ZEITGEIST: Breaking down barriers: Ally Bank, an online bank, eliminated all overdraft fees last week. ( Match Group completed its separation from IAC over the summer.) Plus: how Vimeo CEO Anjali Sud is encouraging everyone at the company to disagree with their boss. The announcement notes that this is the eleventh company that IAC has spun off, a process in which it distributes its ownership stake to IAC shareholders. In November, the company said it had 1.5 million paying subscribers and 3,500 enterprise clients - and that its most recent quarter was with positive EBITDA, plus year-over-year revenue growth of 44%. While Vimeo once competed with YouTube as a consumer video destination, its strategy has shifted in recent years to providing video tools for businesses. It’s time for Vimeo to spread its wings and become a great independent public company, Joey Levin, IAC CEO, said. “It’s time for Vimeo to spread its wings and become a great independent public company.” IAC expects to complete the spinoff of Vimeo in the second quarter of 2021. This success story they attributed to Ms Sud's decision. “The combination of Vimeo’s remarkable growth, solid leadership position and enormous market opportunity have made clear its future,” Levin said in a statement today. According to an April 2021 report in The Verge, Vimeo had over 1.5 million paying customers generating 83.8 million in revenue in Q4 alone. For access to live and exclusive video from CNBC sub. Last month, IAC CEO Joey Levin wrote a letter to shareholders in which he said the holding company had “begun contemplating spinning Vimeo off to our shareholders.” It sounds like the company has moved beyond the contemplation phase, with plans that will be submitted for stockholder approval in the first quarter of 2021, and the actual spin off happening in Q2. Anjali Sud, Vimeo CEO, joins Squawk Alley to discuss the companys growth and recent round of funding. ![]() She took to LinkedIn to share the good news. IAC announced today that it plans to turn Vimeo into an independent, publicly traded company. Charvi Kathuria Anjali Sud baby : The CEO of Vimeo was blessed with a baby boy for the second time on 14th April, 2022. ![]()
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