NEW YORK, April 1, 2021 /PRNewswire/ -- Vimeo, an operating
business of IAC (NASDAQ: IAC), today announced the anticipated
composition of its Board of Directors, as the company prepares to
spin-off from IAC. The spin-off is expected to be completed during
the second quarter of 2021, at which time Vimeo is expected to
become an independent company listed on Nasdaq.
The following are the anticipated 11 members of Vimeo's
post-spin Board of Directors:
- Joey Levin, Chief
Executive Officer, IAC (Chairman of the Board)
- Adam Gross, Technology
Investor and Software Industry Veteran
- Alesia Haas, Chief
Financial Officer, Coinbase
- Kendall Handler, General
Counsel, IAC
- Ida Kane, Chief Financial
Officer, Appfolio
- Mo Koyfman, Founder and
General Partner, Shine Capital
- Spike Lee, Film Director,
Producer, Screenwriter, Actor, and Professor
- Nabil Mallick, General
Partner, Thrive Capital
- Glenn Schiffman, Chief
Financial Officer, IAC
- Anjali Sud, Chief
Executive Officer, Vimeo
- George C. Wolfe,
Playwright, Film and Theater Director
"Vimeo has been part of IAC for 14 years, growing into a strong
industry leader ready to stand on its own," said Joey Levin, CEO of IAC and anticipated Chairman
of the Board of Vimeo. "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."
Vimeo Spin-Off Update
On March 24, 2021, Vimeo held its
first Investor Day in advance of its previously announced pending
spin-off from IAC. The replay of the event is accessible to the
public at http://www.vimeo.com/investors/investor-day-2021 and on
IAC's investor relations website.
The proposed spin-off remains subject to a number of conditions
including final approval by IAC's Board of Directors, approval of
the separation proposal by IAC stockholders, and receipt of a tax
opinion.
About Vimeo's Board of Directors
Joseph Levin, age
41, has served as Chief Executive Officer and a member of the board
of directors of IAC since June 2015.
From June 2016 to June 2017, Mr. Levin also served as the interim
Chief Executive Officer of Vimeo. Prior to his service in these
roles, Mr. Levin served as Chief Executive Officer of IAC Search
& Applications, overseeing the desktop software, mobile
applications and media properties that comprised IAC's former
Search & Applications segment, from January 2012. From November 2009 to January
2012, Mr. Levin served as Chief Executive Officer of
Mindspark Interactive Network, an IAC subsidiary that creates
leading desktop applications, browser extensions and software, and
previously served in various capacities at IAC in strategic
planning, mergers and acquisitions and finance since joining IAC in
2003. Mr. Levin has served on the boards of directors of Match
Group, Inc., Angi Inc. (formerly known as ANGI Homeservices Inc.)
and MGM Resorts International since October
2015, September 2017 and
August 2020, respectively, and
currently serves as Executive Chairman of the board of Match Group,
Inc. and Chairman of the board of Angi Inc. Mr. Levin previously
served on the boards of directors of LendingTree, Inc. (from
August 2008 through November 2014), The Active Network (beginning
prior to its 2011 initial public offering through its sale in
December 2013) and Groupon, Inc.
(from March 2017 to July 2019). In addition to his for-profit
affiliations, Mr. Levin serves on the Undergraduate Executive Board
of Wharton School.
Adam
Gross, age 48, has served as an advisor to (and
has invested in) a variety of technology companies, including
software companies such as Cypress.io (a provider of front-end
testing tools built for use by developers and quality assurance
engineers when testing modern applications), Pantheon (a hosting
and WebOps platform through which teams can build, host and manage
their websites) and Mattermost (a leading open source collaboration
platform), since January 2011. From
November 2013 to March 2018, Mr. Gross served in various
capacities at Salesforce.com, a cloud-based software company,
including most recently as Chief Executive Officer of Heroku, a
Salesforce.com subsidiary that provides a platform as a service
(PaaS) that enables developers to build, run and operate
applications entirely in the cloud, and prior to that time, served
in various executive marketing and product leadership roles at
Salesforce.com. Prior to his time at Salesforce.com, Mr. Gross
served as the Chief Executive Officer of Cloudconnect.com, a cloud
platform that he co-founded, from January
2012 to November 2013. Prior
to his time at Cloudconnect.com, Mr. Gross served in various
executive marketing and product leadership roles at Dropbox, a file
hosting service, as well as founded certain start-up companies in
the technology sector. In addition to his for-profit affiliations,
Mr. Gross currently serves as chairman of the board of directors of
Democracy Works, Inc., a non-partisan organization dedicated to
providing the tools, information and support needed to help
Americans vote no matter what, and as a board member of Reboot, a
non-profit arts and culture organization.
Alesia J.
Haas, age 44, has served as Chief Financial
Officer of Coinbase Global Inc., a cryptocurrency exchange, since
April 2018. Prior to joining
Coinbase, Ms. Haas served as Chief Financial Officer of Och-Ziff
Capital Management Group LLC (now known as Sculptor Capital
Management), a publicly-traded, global institutional alternative
asset manager, from December 2016 to
April 2018. Prior to that time, Ms.
Haas served in various leadership positions at OneWest Bank, N.A.,
a commercial bank, from March 2009
until shortly after its acquisition by CIT Group Inc. in
December 2015, including most
recently as its Chief Financial Officer from January 2013 until December 2015. Ms. Haas has served as a member of
the board of directors of Angi Inc. (formerly known as ANGI
Homeservices Inc.), a digital marketplace for home services, since
September 2017, and previously served
as a member of the board of directors of Sears Holding Corporation,
a holding company that owns and operates certain retail businesses,
from February 2016 to December 2016.
Kendall
Handler, age 36, has served as Senior Vice
President and General Counsel of IAC since January 2021. Ms. Handler previously served as
M&A Counsel and VP, M&A Counsel of IAC from March 2017, during which time she had primary
responsibility for all legal aspects of IAC's mergers and
acquisitions and other transactional work. Before joining IAC in
2017, Ms. Handler was an associate at Wachtell, Lipton, Rosen &
Katz, a New York City law firm,
from 2010 to March 2017. Ms. Handler
has served on the board of directors of Angi Inc. (formerly known
as ANGI Homeservices Inc.) since December
2020.
Ida Kane, age 51,
has served as the Chief Financial Officer of AppFolio, Inc., a
publicly-traded real estate technology 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 Group Inc., a publicly-traded
online option trading and investor education company. Prior to
that, Ms. Kane held other financial leadership roles in public and
private companies, including serving as Chief Financial Officer and
Vice President of Operations of a business unit of Franklin Covey
Co., a publicly-traded training and consulting company. In addition
to her for-profit affiliations, Ms. Kane served as Treasurer and a
member of the board of directors of The Howard School in
Carpinteria, California from 2011
through 2020.
Mo Koyfman, age 43,
has served as General Partner of Shine Capital, an early-stage
venture capital firm that he founded, since September 2020, and as Managing Member of MOKO
Brands, an investment company that he founded, since January 2017. Prior to that time, Mr. Koyfman
served as a General Partner of Spark Capital, a venture capital
firm, from September 2008 to
May 2016, and as Chief Operating
Officer of Connected Ventures, a former subsidiary of IAC that
primarily operated CollegeHumor.com (a comedy content
website), BustedTees.com (an eCommerce business) and Vimeo, from
August 2007 to March 2008. Mr. Koyfman previously held various
positions on IAC's mergers and acquisitions and business
development teams from February 2002
to August 2007, during which time he
led IAC's acquisition of a controlling stake in Connected Ventures
(which then included Vimeo) in December
2006. Prior to joining IAC, Mr. Koyfman served as an
investment banker at Bear Stearns from July
2000 to February 2002. In
addition to his for-profit affiliations, Mr. Koyfman has served as
a founding board member of Sefaria (an organization dedicated to
building the future of Jewish learning in an open and participatory
way) since January 2013, and also
serves on the Future Leadership Council of the Whitney Museum of
American Art.
Nabil Mallick, age
37, has served as a General Partner of Thrive Capital, a
New York-based venture capital
firm, since May 2015. Prior to
joining Thrive Capital, Mr. Mallick served as a finance executive
at the H.J. Heinz Company, a consumer food company. Prior to his
tenure at H.J. Heinz Company, Mr. Mallick served as an investment
banker at Perella Weinberg Partners and Citigroup, advising
companies on a variety of transactions. Mr. Mallick currently
serves on the boards of directors of certain privately-held
companies, including Glossier (a D2C beauty business), Grailed (a
curated marketplace for men's clothing), Guru (an
enterprise-focused information-sharing platform), Studs (an
omnichannel jewelry business) and Zola (a digital platform for
weddings). Mr. Mallick previously served as a board observer of
Github (devtool software) and Greenhouse (HR software).
Spike Lee, age
64, is a film director, producer, screenwriter, actor and
professor. Mr. Lee's production company, 40 Acres and a Mule
Filmworks, has produced more than 35 films since 1983. Most
recently, Mr. Lee wrote, directed and produced Da 5 Bloods
(released in 2020) and Mr. Lee has written and directed several
films, including She's Gotta Have It, Do the Right
Thing, Mo' Better Blues, Jungle Fever, Malcolm
X, Crooklyn, Clockers, 25th Hour,
Inside Man, Chi-Raq and BlacKkKlansman, as
well acted in ten of the films he has written, directed and/or
produced. Mr. Lee has been a nominee and is the recipient of
several awards throughout his career, including Academy, British
Film Academy, Golden Globe, Emmy, Cesar, Peabody, Black Reel,
American Black Film Festival, Berlin Film Festival and Cannes Film Festival awards. Among other
awards, Mr. Lee won the Time Warner Innovator Award in 2004, the
Ossie Davis Award in 2005 and the
Dorothy and Lillian Gish Prize in 2013. Mr. Lee currently serves on
the board of directors of his privately-held production 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
currently serves as interim Chief Financial Officer of Angi Inc.
(formerly known as ANGI Homeservices Inc.), a role he previously
held from September 2017 to
March 2019. Prior to joining IAC, Mr.
Schiffman served as Senior Managing Director at Guggenheim
Securities, the investment banking and capital markets business of
Guggenheim Partners, from March 2013.
Prior to his tenure at Guggenheim Securities, Mr. Schiffman was a
partner at The Raine Group, a merchant bank focused on advising and
investing in the technology, media and telecommunications
industries, from September 2011 to
March 2013. Prior to joining The
Raine Group, Mr. Schiffman served as Co-Head of the Global Media
group at Lehman Brothers from 2005 to 2007 and Head of Investment
Banking Asia- Pacific at Lehman Brothers (and subsequently Nomura)
from April 2007 to January 2010, as well as Head of Investment
Banking, Americas from January 2010
to April 2011 for Nomura. Mr.
Schiffman's roles at Nomura followed Nomura's acquisition of
Lehman's Asia business in 2008. In
his not-for-profit affiliations, Mr. Schiffman is a member of the
National Committee on United States-China Relations and serves as a
member of the Duke Children's National Leadership Council. He is
also 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 provide individualized care to children at medical
centers close to home. He previously served on the Duke Health
Board of Visitors from May 2008 until
June 2019 and the Duke School of
Medicine Board of Visitors from July
2019 until June 2020. Mr.
Schiffman has served on the boards of directors of Match Group,
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.
Prior to that time, Ms. Sud previously served as Vimeo's Senior
Vice President and General Manager, 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. Prior to joining Vimeo in
July 2014, Ms. Sud held various
management positions at Amazon and was a member of the mergers and
acquisitions team at Time Warner, a cable television company. Ms.
Sud has served on the board of directors of Dolby Laboratories (a
creator of audio and imaging technologies that transform
entertainment and communications at the cinema, at home, at work
and on mobile devices) since May
2019. In her not-for-profit affiliations, Ms. Sud serves as
a Young Global Leader at the World Economic Forum. Ms. Sud holds a
B.Sc. from The Wharton School of the University of Pennsylvania and an MBA from
Harvard Business School.
George C.
Wolfe, age 66, is a director and writer of
theatre and film. He has won five Tony Awards and directed
seventeen Broadway productions, including Angels in America, Parts
One and Two, Bring in 'da Noise, Bring in 'da Funk, Jelly's Last
Jam, The Normal Heart, Caroline, or Change, Shuffle Along, or, the
Making of the Musical Sensation of 1921, and All That Followed, and
most recently The Iceman Cometh, with Denzel Washington. For film, he recently
directed Ma Rainey's Black Bottom
for Netflix, The Immortal Life of Henrietta
Lacks for HBO, and Lackawanna Blues, for which he was named
Best Director by the National Board of Review and the Director's
Guild of America. From 1993 to 2004 he was the Producer of the
Public Theatre/New York Shakespeare Festival, and served on the
President's Committee for the Arts and Humanities under President
Obama from 2009 to 2017. Mr. Wolfe's awards and distinctions
include 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 Distinguished NYU Alumni Award, the Dramatists Guild's
Hull-Warner Award, and the Brendan Gill Prize. He was declared a
Living Landmark by the New York Landmark Conservancy.
About Vimeo
Vimeo is the world's leading all-in-one
video software solution. Our platform enables any professional,
team, and organization to unlock the power of video to create,
collaborate and communicate. We proudly serve our growing community
of over 200 million users — from creatives to entrepreneurs to the
world's largest companies. Learn more at www.vimeo.com.
About IAC
IAC (NASDAQ: IAC) builds companies. We are
guided by curiosity, a questioning of the status quo, and a desire
to invent or acquire new products and brands. From the single seed
that started as IAC over two decades ago have emerged 10 public
companies and generations of exceptional leaders. We will always
evolve, but our basic principles of financially-disciplined
opportunism will never change. IAC today operates Vimeo, Dotdash
and Care.com, among many others, and has majority ownership of Angi
Inc. which includes Angie's List, HomeAdvisor and Handy. The
Company is headquartered in New York
City and has business operations and satellite offices
worldwide.
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Litigation Reform Act of 1995
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plans and strategies, statements relating to the anticipated
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among other things, the costs and expected benefits of the proposed
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March 12, 2021 that includes a
preliminary proxy statement of IAC and a preliminary consent
solicitation statement of Vimeo.
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Where To Find It
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informational purposes only and does not constitute an offer to
sell or the solicitation of an offer to buy any securities, or a
solicitation of any vote or approval, nor shall there be any sale,
issuance or transfer of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
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This communication is being made in respect of a proposed
separation of Vimeo from the remaining businesses of IAC through
the spin-off (the "Spin-off") of Holdings, a new Vimeo holding
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"Merger"). In connection with the Spin-off and the Merger, IAC and
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CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE
THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED SPIN-OFF AND MERGER.
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