WEBWIRE – Friday, April 2, 2021
Vimeo, an working replace of IAC (NASDAQ: IAC), presented the anticipated composition of its Board of Directors, because the corporate prepares to traipse-off from IAC. The traipse-off is expected to be performed at some level of the second quarter of 2021, at which duration Vimeo is expected to change into an self sustaining company listed on Nasdaq.
The following are the anticipated 11 participants of Vimeo?s submit-traipse Board of Directors:
· Joey Levin, Chief Executive Officer, IAC (Chairman of the Board)
· Adam Atrocious, Technology Investor and Instrument Industry Faded
· Alesia Haas, Chief Financial Officer, Coinbase
· Kendall Handler, Total Counsel, IAC
· Ida Kane, Chief Financial Officer, Appfolio
· Mo Koyfman, Founder and Total Associate, Shine Capital
· Spike Lee, Movie Director, Producer, Screenwriter, Actor, and Professor
· Nabil Mallick, Total Associate, Thrive Capital
· Glenn Schiffman, Chief Financial Officer, IAC
· Anjali Sud, Chief Executive Officer, Vimeo
· George C. Wolfe, Playwright, Movie and Theater Director
?Vimeo has been allotment of IAC for 14 years, rising correct into a stable replace leader willing to stand by itself,? said Joey Levin, CEO of IAC and anticipated Chairman of the Board of Vimeo. ?Laborious to imagine that what began as a small crew interior Faculty Humor is now positioned to change into a huge public company with an world-class Board of Directors. Vimeo represents the ideal of IAC ? a lengthy-term funding with a product that delights users in a gigantic and rising market, a unbelievable management crew, and huge ambition.
?Vimeo Streak-Off Change
Vimeo held its first Investor Day upfront of its previously presented pending traipse-off from IAC. The replay of the match is available to the general public at http://www.vimeo.com/traders/investor-day-2021 and on IAC?s investor family members internet page.
The proposed traipse-off stays area to a series of prerequisites including final approval by IAC?s Board of Directors, approval of the separation proposal by IAC stockholders, and receipt of a tax concept.
About Vimeo?s Board of Directors
Joseph Levin, age 41, has served as Chief Executive Officer and a member of the board of administrators of IAC since June 2015. From June 2016 to June 2017, Mr. Levin additionally served because the duration in-between Chief Executive Officer of Vimeo. Sooner than his service in these roles, Mr. Levin served as Chief Executive Officer of IAC Search & Applications, overseeing the desktop gadget, mobile capabilities and media properties that comprised IAC?s smartly-liked Search & Applications section, from January 2012. From November 2009 to January 2012, Mr. Levin served as Chief Executive Officer of Mindspark Interactive Community, an IAC subsidiary that creates leading desktop capabilities, browser extensions and gadget, and previously served in diverse capacities at IAC in strategic planning, mergers and acquisitions and finance since becoming a member of IAC in 2003. Mr. Levin has served on the boards of administrators of Match Community, Inc., Angi Inc. (previously acknowledged as ANGI Homeservices Inc.) and MGM Resorts Global since October 2015, September 2017 and August 2020, respectively, and at the second serves as Executive Chairman of the board of Match Community, Inc. and Chairman of the board of Angi Inc. Mr. Levin previously served on the boards of administrators of LendingTree, Inc. (from August 2008 through November 2014), The Active Community (starting forward of its 2011 preliminary public offering through its sale in December 2013) and Groupon, Inc. (from March 2017 to July 2019). As successfully as to his for-earnings affiliations, Mr. Levin serves on the Undergraduate Executive Board of Wharton Faculty.
Adam Atrocious, age 48, has served as an handbook to (and has invested in) a diversity of workmanship companies, including gadget companies equivalent to Cypress.io (a provider of front-cease testing tools constructed to be utilized by builders and quality assurance engineers when testing up-to-the-minute capabilities), Pantheon (a internet hosting and WebOps platform throughout which teams can scheme, host and put collectively their internet sites) and Mattermost (a number one open source collaboration platform), since January 2011. From November 2013 to March 2018, Mr. Atrocious served in diverse capacities at Salesforce.com, a cloud-based fully mostly gadget company, including most currently as Chief Executive Officer of Heroku, a Salesforce.com subsidiary that affords a platform as a service (PaaS) that lets in builders to scheme, elope and operate capabilities entirely within the cloud, and forward of that time, served in diverse govt marketing and product management roles at Salesforce.com. Sooner than his time at Salesforce.com, Mr. Atrocious served because the Chief Executive Officer of Cloudconnect.com, a cloud platform that he co-founded, from January 2012 to November 2013. Sooner than his time at Cloudconnect.com, Mr. Atrocious served in diverse govt marketing and product management roles at Dropbox, a file internet hosting service, moreover to founded obvious originate-up companies within the abilities sector. As successfully as to his for-earnings affiliations, Mr. Atrocious at the second serves as chairman of the board of administrators of Democracy Works, Inc., a non-partisan group dedicated to offering the tools, knowledge and toughen the biggest to assist American citizens vote it would now not topic what, and as a board member of Reboot, a non-earnings arts and custom group.
Alesia J. Haas, age 44, has served as Chief Financial Officer of Coinbase Global Inc., a cryptocurrency replace, since April 2018. Sooner than becoming a member of Coinbase, Ms. Haas served as Chief Financial Officer of Och-Ziff Capital Management Community LLC (now acknowledged as Sculptor Capital Management), a publicly-traded, global institutional alternative asset manager, from December 2016 to April 2018. Sooner than that time, Ms. Haas served in diverse management positions at OneWest Financial institution, N.A., a commercial bank, from March 2009 till shortly after its acquisition by CIT Community Inc. in December 2015, including most currently as its Chief Financial Officer from January 2013 till December 2015. Ms. Haas has served as a member of the board of administrators of Angi Inc. (previously acknowledged as ANGI Homeservices Inc.), a digital marketplace for residence services, since September 2017, and previously served as a member of the board of administrators of Sears Keeping Corporation, a maintaining company that owns and operates obvious retail companies, from February 2016 to December 2016.
Kendall Handler, age 36, has served as Senior Vice President and Total Counsel of IAC since January 2021. Ms. Handler previously served as M&A Counsel and VP, M&A Counsel of IAC from March 2017, at some level of which duration she had predominant responsibility for all ethical aspects of IAC?s mergers and acquisitions and other transactional work. Sooner than becoming a member of IAC in 2017, Ms. Handler modified into an associate at Wachtell, Lipton, Rosen & Katz, a New York Metropolis laws firm, from 2010 to March 2017. Ms. Handler has served on the board of administrators of Angi Inc. (previously acknowledged as ANGI Homeservices Inc.) since December 2020.
Ida Kane, age 51, has served because the Chief Financial Officer of AppFolio, Inc., a publicly-traded true property abilities company, since February 2015. From 2010 to 2015, Ms. Kane served as Chief Financial Officer of Rightscale, Inc., a cloud computing management provider. From 2005 to 2009, Ms. Kane served as Chief Financial Officer at thinkorswim Community Inc., a publicly-traded on-line option procuring and selling and investor education company. Sooner than that, Ms. Kane held other financial management roles in public and private companies, including serving as Chief Financial Officer and Vice President of Operations of a replace unit of Franklin Covey Co., a publicly-traded coaching and consulting company. As successfully as to her for-earnings affiliations, Ms. Kane served as Treasurer and a member of the board of administrators of The Howard Faculty in Carpinteria, California from 2011 through 2020.
Mo Koyfman, age 43, has served as Total Associate of Shine Capital, an early-stage project capital firm that he founded, since September 2020, and as Managing Member of MOKO Producers, an funding company that he founded, since January 2017. Sooner than that time, Mr. Koyfman served as a Total Associate of Spark Capital, a project capital firm, from September 2008 to Could well maybe merely 2016, and as Chief Operating Officer of Linked Ventures, an everyday subsidiary of IAC that primarily operated CollegeHumor.com (a comedy recount internet page), BustedTees.com (an eCommerce replace) and Vimeo, from August 2007 to March 2008. Mr. Koyfman previously held diverse positions on IAC?s mergers and acquisitions and replace construction teams from February 2002 to August 2007, at some level of which duration he led IAC?s acquisition of a controlling stake in Linked Ventures (which then included Vimeo) in December 2006. Sooner than becoming a member of IAC, Mr. Koyfman served as an funding banker at Undergo Stearns from July 2000 to February 2002. As successfully as to his for-earnings affiliations, Mr. Koyfman has served as a founding board member of Sefaria (an group dedicated to constructing the future of Jewish studying in an open and participatory contrivance) since January 2013, and additionally serves on the Future Leadership Council of the Whitney Museum of American Art.
Nabil Mallick, age 37, has served as a Total Associate of Thrive Capital, a New York-based fully mostly project capital firm, since Could well maybe merely 2015. Sooner than becoming a member of Thrive Capital, Mr. Mallick served as a finance govt at the H.J. Heinz Firm, a person food company. Sooner than his tenure at H.J. Heinz Firm, Mr. Mallick served as an funding banker at Perella Weinberg Companions and Citigroup, advising companies on a diversity of transactions. Mr. Mallick at the second serves on the boards of administrators of obvious privately-held companies, including Glossier (a D2C beauty replace), Grailed (a curated marketplace for men?s clothing), Guru (an enterprise-focused knowledge-sharing platform), Studs (an omnichannel jewelry replace) and Zola (a digital platform for weddings). Mr. Mallick previously served as a board observer of Github (devtool gadget) and Greenhouse (HR gadget).
Spike Lee, age 64, is a movie director, producer, screenwriter, actor and professor. Mr. Lee?s manufacturing company, 40 Acres and a Mule Filmworks, has produced more than 35 films since 1983. Most currently, Mr. Lee wrote, directed and produced Da 5 Bloods (released in 2020) and Mr. Lee has written and directed loads of films, including She?s Gotta Dangle It, Plot the Honest Thing, Mo? Better Blues, Jungle Fever, Malcolm X, Crooklyn, Clockers, 25th Hour, Inside of Man, Chi-Raq and BlacKkKlansman, as successfully acted in ten of the flicks he has written, directed and/or produced. Mr. Lee has been a nominee and is the recipient of loads of awards all over his profession, including Academy, British Movie Academy, Golden Globe, Emmy, Cesar, Peabody, Sad Reel, American Sad Movie Competition, Berlin Movie Competition and Cannes Movie Competition awards. Amongst other awards, Mr. Lee obtained the Time Warner Innovator Award in 2004, the Ossie Davis Award in 2005 and the Dorothy and Lillian Gish Prize in 2013. Mr. Lee at the second serves on the board of administrators of his privately-held manufacturing company, 40 Acres and a Mule Filmworks.
Glenn H. Schiffman, age 51, has served as Executive Vice President and Chief Financial Officer of IAC since April 2016 and at the second serves as duration in-between Chief Financial Officer of Angi Inc. (previously acknowledged as ANGI Homeservices Inc.), a feature he previously held from September 2017 to March 2019. Sooner than becoming a member of IAC, Mr. Schiffman served as Senior Managing Director at Guggenheim Securities, the funding banking and capital markets replace of Guggenheim Companions, from March 2013. Sooner than his tenure at Guggenheim Securities, Mr. Schiffman modified into a companion at The Raine Community, a service provider bank fervent on advising and investing within the abilities, media and telecommunications industries, from September 2011 to March 2013. Sooner than becoming a member of The Raine Community, Mr. Schiffman served as Co-Head of the Global Media crew at Lehman Brothers from 2005 to 2007 and Head of Funding Banking Asia- Pacific at Lehman Brothers (and therefore Nomura) from April 2007 to January 2010, moreover to Head of Funding Banking, Americas from January 2010 to April 2011 for Nomura. Mr. Schiffman?s roles at Nomura adopted Nomura?s acquisition of Lehman?s Asia replace in 2008. In his no longer-for-earnings affiliations, Mr. Schiffman is a member of the Nationwide Committee on United States-China Relations and serves as a member of the Duke Kids?s Nationwide Leadership Council. He’s additionally the Founder and Chairman of the Valerie Fund Endowment and a member of the Valerie Fund?s Board of Advisors, the mission of both of which is to present individualized care to young folks at medical centers discontinuance to residence. He previously served on the Duke Successfully being Board of Guests from Could well maybe merely 2008 till June 2019 and the Duke Faculty of Treatment Board of Guests from July 2019 till June 2020. Mr. Schiffman has served on the boards of administrators of Match Community, Inc. and Angi Inc. since September 2016 and June 2017, respectively.
Anjali Sud, age 37, has served as Chief Executive Officer of Vimeo since July 2017. Sooner than that time, Ms. Sud previously served as Vimeo?s Senior Vice President and Total Supervisor, Creator Platform from September 2016 to June 2017, Vice President and Head of Global Marketing from July 2015 to August 2016, and Director of Marketing from July 2014 to June 2015. Sooner than becoming a member of Vimeo in July 2014, Ms. Sud held diverse management positions at Amazon and modified into a member of the mergers and acquisitions crew at Time Warner, a cable television company. Ms. Sud has served on the board of administrators of Dolby Laboratories (a creator of audio and imaging technologies that change into entertainment and communications at the cinema, at residence, at work and on mobile devices) since Could well maybe merely 2019. In her no longer-for-earnings affiliations, Ms. Sud serves as a Young Global Leader at the World Economic Dialogue board. Ms. Sud holds a B.Sc. from The Wharton Faculty of the University of Pennsylvania and an MBA from Harvard Change Faculty.
George C. Wolfe, age 66, is a director and author of theatre and film. He has obtained five Tony Awards and directed seventeen Broadway productions, including Angels in The united states, Substances One and Two, Elevate in ?da Noise, Elevate in ?da Funk, Jelly?s Closing Jam, The Customary Heart, Caroline, or Swap, Scuttle Along, or, the Making of the Musical Sensation of 1921, and All That Followed, and most currently The Iceman Cometh, with Denzel Washington. For film, he currently directed Ma Rainey?s Sad Bottom for Netflix, The Immortal Lifestyles of Henrietta Lacks for HBO, and Lackawanna Blues, for which he modified into named Good Director by the Nationwide Board of Overview and the Director?s Guild of The united states. From 1993 to 2004 he modified into the Producer of the Public Theatre/New York Shakespeare Competition, and served on the President?s Committee for the Arts and Humanities below President Obama from 2009 to 2017. Mr. Wolfe?s awards and distinctions contain the Lambda Liberty Award, a New York Public Library Literary Lion, Obie, Outer Critics and Drama Desk Awards, the Society of Directors and Choreographers Calloway and Abbott Awards, the Current NYU Alumni Award, the Dramatists Guild?s Hull-Warner Award, and the Brendan Gill Prize. He modified into declared a Living Landmark by the New York Landmark Conservancy.
About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the situation quo, and a desire to create or produce new merchandise and manufacturers. From the one seed that began as IAC over two a protracted time within the past possess emerged 10 public companies and generations of distinctive leaders. We can consistently evolve, nonetheless our overall tips of financially-disciplined opportunism obtained’t ever change. IAC this day operates Vimeo, Dotdash and Care.com, among many others, and has majority ownership of Angi Inc. which accommodates Angie?s List, HomeAdvisor and To hand. The Firm is headquartered in New York Metropolis and has replace operations and satellite locations of work worldwide.
Staunch Harbor Assertion Underneath the Non-public Securities Litigation Reform Act of 1995
This press release would possibly possibly possibly well also possess ?forward-looking statements? within the which formula of the Federal Non-public Securities Litigation Reform Act of 1995. Forward-looking statements would possibly possibly possibly well also contain, nonetheless are no longer little to, statements pertaining to to IAC/InterActiveCorp?s (?IAC?) and Vimeo, Inc.?s (?Vimeo?) anticipated financial efficiency, goals, plans and strategies, statements pertaining to to the anticipated consummation (including anticipated timing) of the pending separation of Vimeo from IAC, and all statements (aside from statements of historical information) that address actions, occasions or tendencies that IAC and Vimeo intend, query, project, imagine or expect will or would possibly possibly possibly well also happen within the atomize. These statements are assuredly characterized by terminology equivalent to ?imagine,? ?would possibly possibly possibly well also,? ?expect,? ?must,? ?intend,? ?knowing,? ?will,? ?query,? ?estimate,? ?project,? ?positioned,? ?formula? and identical expressions, and are in step with assumptions and assessments made by IAC?s and Vimeo?s management in gentle of their ride and their idea of historical tendencies, most up-to-the-minute prerequisites, expected future tendencies, and other factors they imagine to be appropriate. IAC and Vimeo undertake no accountability to update or revise this kind of statements, whether as a outcomes of most up-to-the-minute knowledge, future occasions or otherwise. Forward-looking statements are no longer guarantees of future efficiency. Whether true outcomes will conform to expectations and predictions is area to acknowledged and unknown dangers and uncertainties, including: dangers and uncertainties discussed in reviews that IAC has filed with the SEC; the hazards inherent in maintaining apart Vimeo from IAC, including uncertainties related to, among other issues, the costs and expected advantages of the proposed transaction, the expected timing of the transaction or whether this is able to maybe also even be performed, whether the must haves to the transaction would possibly possibly possibly well also even be elated or any match, change or other circumstance occurs that will maybe well also give upward thrust to the abandonment of the proposed traipse-off (including the failure to rep any required approvals from the stockholders of IAC), any litigation rising out of or pertaining to to the proposed transaction, the expected tax medicine of the transaction, and the impact of the transaction on the companies of IAC and Vimeo; and other circumstances beyond IAC?s and Vimeo?s adjust. You would possibly possibly well no longer location undue reliance on these forward-looking statements. For more necessary factors on factors that will maybe well also possess an designate on these expectations, please scrutinize IAC?s filings with the SEC, including a joint registration assertion on Modification No. 3 to Crash S-4 filed by IAC and Vimeo Holdings, Inc. (?Holdings?) on March 12, 2021 that entails a preliminary proxy assertion of IAC and a preliminary consent solicitation assertion of Vimeo.
No Offer or Solicitation / Extra Knowledge and Where To Fetch It
This conversation is for informational capabilities fully and does no longer represent a recommendation to promote or the solicitation of a recommendation to take any securities, or a solicitation of any vote or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction by which such provide, solicitation or sale would be unlawful forward of registration or qualification below the securities laws of this kind of jurisdiction. No provide of securities will likely be made excluding by formula of a prospectus assembly the necessities of Part 10 of the Securities Act of 1933, as amended.
This conversation is being made in appreciate of a proposed separation of Vimeo from the final companies of IAC through the traipse-off (the ?Streak-off?) of Holdings, a brand new Vimeo maintaining company, and a merger of Vimeo with a subsidiary of Holdings (the ?Merger?). In connection with the Streak-off and the Merger, IAC and Holdings intend to file relevant affords with the Securities and Alternate Rate (the ?SEC?), and possess filed a joint registration assertion on Crash S-4 that entails a preliminary proxy assertion of IAC and a preliminary consent solicitation assertion of Vimeo and that additionally constitutes a prospectus of IAC and of the brand new Vimeo maintaining company. The straightforward assignment within the preliminary proxy assertion/consent solicitation assertion/prospectus is no longer total and is susceptible to be modified. IAC will raise the definitive proxy assertion and Vimeo will raise the definitive consent solicitation assertion to their respective stockholders as required by appropriate laws. This conversation is no longer an alternative choice to the proxy assertion/consent solicitation assertion/prospectus or any other proxy assertion, consent solicitation assertion or any other file that will maybe well even be filed with the SEC in connection with the Streak-off or the Merger.
INVESTORS AND SECURITY HOLDERS OF IAC AND VIMEO ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT/CONSENT SOLICITATION STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED SPIN-OFF AND MERGER.
Investors and security holders would possibly possibly possibly well also make copies of these affords and other documents filed with the SEC freed from assign at the SEC?s internet page, www.sec.gov. Copies of documents filed with the SEC by IAC (after they change into available) would possibly possibly possibly well even be purchased freed from assign on IAC?s internet page at www.iac.com.
Participants within the Solicitation
IAC, Vimeo, Holdings and IAC?s administrators and govt officers would possibly possibly possibly well even be deemed to be participants within the solicitation of proxies from IAC?s stockholders in favor of the proposed Streak-off and the solicitation of is of the same opinion from Vimeo?s stockholders in favor of the proposed Merger below the tips of the SEC. Knowledge about IAC?s administrators and govt officers is equipped within the joint registration assertion on Modification No. 3 to Crash S-4 which modified into filed with the SEC by IAC and Holdings on March 12, 2021. Extra knowledge relating to participants within the solicitations and a description of their impart and oblique pursuits shall be included within the proxy assertion/consent solicitation assertion/prospectus and the opposite relevant documents filed with the SEC after they change into available.
About Vimeo
Vimeo is the enviornment?s leading all-in-one video gadget resolution. Our platform permits any skilled, crew, and group to release the vitality of video to manufacture, collaborate and talk. We proudly assist our rising community of over 200 million users ? from creatives to entrepreneurs to the enviornment?s ideal companies. Be taught more at www.vimeo.com.
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