IAC’s Video Platform Vimeo Raises $150 Million From Thrive, GIC
- New investment values Barry Diller’s company at $2.75 billion
- IAC is considering spinning of Vimeo to give access to capital
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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.