Vimeo has gone public, with today being its first day as a publicly traded company.
Vimeo parent IAC announced in December it was spinning the streaming platform off as a fully independent, public company. A month later, Vimeo raised $300 million, bringing its valuation to $5.7 billion, as it prepared to go public.
The day has finally arrived, with Vimeo now a public company.
“Today Vimeo was listed as a public company,” CEO Anjali Sud wrote on the company blog. “This has been a 16-year labor of love: sparked by a few inspired minds, nurtured by patient investors, and kindled by over a thousand passionate humans who have built, pivoted, innovated, and scaled.
“We’ve gone through a lot of change over the years. But what has never changed is our belief in the power of video. We put creators first, and put the power of professional-quality video in the hands of millions. We built an innovative software platform, a wildly creative community, and a strong and resilient business. I don’t think I’ll ever feel more proud of a group of people as I do today.”
Sud sees a world of possibilities post-pandemic, including reimagining virtual events. As one of the leading video platforms, and YouTube’s main competitor, Vimeo seems well-positioned for future growth.