Benzinga | Nov 5, 2020 04:46PM EST

IAV's Vimeo Announces $150M Equity Investment From Thrive Capital And GIC



NEW YORK, Nov. 5, 2020 /PRNewswire/ -- Vimeo, an IAC (NASDAQ:IAC) company and the world's leading professional video platform, today announced a $150 million equity investment from technology investment firm Thrive Capital and GIC. The funding comes on the heels of record growth at Vimeo--heavily driven by demand from business and corporate customers --and values the software-as-a-service (SaaS) company at $2.75 billion. The new capital will enable Vimeo to drive deeper investments in R&D, sales and international expansion.