By Kuldip K. Ambastha
On Tuesday, December 22, 2020, IAC/InterActiveCorp (IAC) delivered a +14.1% return for the day. IAC/InterActiveCorp is an American holding company, headquartered in New York City, NY. The company has a variety of underlying holdings, mainly in the media / Internet arena. The Board of Directors of IAC/InterActiveCorp approved a plan to fully spin-off the company’s stake in Vimeo to shareholders. Vimeo is a leading video software company. After the spin-off is complete, Vimeo will be an independent, focused, pure-play company with an ability to more effectively raise capital to expand. In 1Q2021, IAC/InterActiveCorp will hold a stockholder meeting to discuss and approve the spin-off. In 2Q2021, the spin-off will happen if approved during the stockholder meeting. Investors cheered on this development on Tuesday, December 22, 2020.
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Disclosure – The principals and clients of Ambastha Financial LLC have no positions in IAC.
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