Vimeo Spinoff Is Projected for Q2 After $300M Equity Announcement

Cowen forecast 24% Q4 revenue growth to $828 million for Vimeo parent IAC, after the video platform’s announcement Monday it raised $300 million in equity funding. In a Tuesday investor note, analyst John Blackledge attributed expected stronger financial results to investments and the impact of COVID-19 to multiple business segments. IAC said last month it plans to spin off Vimeo as an independent company this year, which Blackledge pegged for Q2. He forecast strong Q4 revenue growth for Vimeo at 53% driven by strong growth in subscribers and average revenue per user. IAC reports Q4 Feb. 3.