Nov 5 (Reuters) - IAC/InterActiveCorp said on
Thursday it was considering spinning off its stake in Vimeo, its
video platform that raised $150 million in funding at a $2.75
"We're now evaluating a full spin off to enable Vimeo with
the complete suite of tools available in the public markets,"
IAC Chief Executive Officer Joey Levin said.
"There's a long way to go before we're decided on that, and
far too early to speculate on what the terms of that spin would
In a bid to boost subscribers, Vimeo launched a free video
messaging tool on its platform and collaborated with GoDaddy Inc
to make video tools available along with the website
builders suite in October.
Quarterly revenue from IAC's largest unit, ANGI
Homeservices, increased 9% to $389.9 million, beating analysts'
estimates of $383.1 million, according to Refinitiv IBES data.
IAC's net income attributable to shareholders rose to $184.9
million, or $2.04 per share, in the third quarter ended Sept.
30, from $16.5 million, or 19 cents per share, a year earlier.
The quarterly results included a $227.7 million after-tax
unrealized gain related to IAC's investment in MGM Resorts
Total revenue rose 11.8% to $788.4 million, beating
analysts' estimates of $766.7 million.
(Reporting by Chavi Mehta and Ayanti Bera in Bengaluru; Editing
by Shounak Dasgupta)