by Alex Weprin | HollywoodReporter.Com
Troy Warren #business-all
The company says it expects to complete the spinoff in the second quarter of 2021.
The video software company Vimeo has named its slate of board of directors ahead of its planned spinoff from IAC.
Among the board members are film directors Spike Lee (Da 5 Bloods) and George C. Wolfe (Ma Rainey’s Black Bottom), who will join a board that includes multiple IAC executives, technology investors and finance executives. IAC CEO Joey Levin will be the chairman of Vimeo’s board.
IAC announced its intention to spin off the Vimeo business late last year, valuing it at $2.75 billion. The company says it expects to complete the spinoff in the second quarter of 2021.
“Vimeo has been part of IAC for 14 years, growing into a strong industry leader ready to stand on its own,” said Levin in a statement. “Hard to believe that what started as a small team inside College Humor is now positioned to become a big public company with a world-class Board of Directors. Vimeo represents the best of IAC — a long-term investment with a product that delights users in a large and growing market, an incredible management team, and big ambition.”
Other board members will include IAC execs Kendall Handler and Glenn Schiffman, Thrive Capital partner Nabil Mallick, tech investor Adam Gross, Coinbase CFO Alesia Haas, AppFolio CFO Ida Kane, Shine Capital partner Mo Koyfman and Vimeo CEO Anjali Sud.