Vimeo CEO Anjali Sud is taking the market's initial muted reaction to the company's trading debut on Tuesday in stride. In fact, Sud is already back on the hunt for Vimeo's next acquisition while also plotting out new investments in the company.
"We've done several acquisitions in the last few years, everything from live-streaming to AI-based video creation. We have also integrated all of that into Vimeo's platform," Sud, who joined now former parent company IAC Interactive in 2014 and took over as CEO in 2017, told Yahoo Finance Live. "So we will always look at M&A opportunities, and it is everything from new technology, institutional knowledge, intellectual property that we don't have yet as well as incredible teams and talent. We have always used M&A as another growth lever and we will do that as it makes sense."
Vimeo is the latest company to be spun out of Barry Diller’s IAC Interactive (IAC), following in the footsteps of dating platform Match Group in July 2020. The online video platform debuted on the Nasdaq under the ticker symbol VMEOV.
The listing comes on the heels of Vimeo posting 57% sales growth in the first quarter as companies continued to invest in professional video tools during the pandemic. First quarter adjusted operating profits clocked in at $1.8 million, marking the third straight quarter of being in the green for Vimeo.