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Vimeo is an American video hosting, sharing, and services platform provider headquartered in New York City. Vimeo focuses on the delivery of high-definition video across a range of devices. Vimeo's business model is through software as a service (SaaS). They derive revenue by providing subscription plans for businesses and video content producers.
Vimeo provides its subscribers with tools for video creation, editing, and broadcasting, enterprise software solutions, as well as the means for video professionals to connect with clients and other professionals. As of 2021, the site has 200 million users, with around 1.6 million subscribers to its services.
In November 2020, spurred by growth in Vimeo's services due to the COVID-19 pandemic, IAC raised US$150 million for Vimeo in anticipation of spinning off the subsidiary as its own company, giving Vimeo a US$2.75 billion valuation. IAC formally announced plans to spin off Vimeo as a public-owned company in December 2020, with the process expected to close by the second quarter of 2021. Vimeo would become the 11th company spun out from IAC following this