IAC’s video platform Vimeo raises $150m from Thrive, GIC at $2.75b valuation

IAC’s video platform Vimeo raises $150m from Thrive, GIC at $2.75b valuation

REUTERS/Anshuman Daga

Barry Diller’s InterActive Corp. (IAC) said its 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.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter