Deals
IAC’s Vimeo Raises New Funds at $6 Billion Valuation
- New round doubles Vimeo’s value in less than three months
- Video software unit expected to be spun off by second quarter
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Barry Diller’s IAC/InterActive Corp. said its video software company Vimeo is valued at about $6 billion after a recent funding round, nearly doubling the valuation before the unit is scheduled to be spun off early in the second quarter.
Vimeo raised $300 million from T. Rowe Price Group Inc. and Oberndorf Enterprises LLC, the company said in a statement Monday. The investment follows a $150 million equity round in November, when IAC said it planned to spin Vimeo off into a separately traded company.