IAC Inc. - IAC STOCK NEWS

IAC (NASDAQ: IAC) has announced a plan to spin off its complete stake in Vimeo, making it an independent public company. This marks the 11th spin-off from IAC. The transaction involves a reclassification of IAC shares, enabling stockholders to receive Vimeo shares. A stockholder meeting is scheduled for Q1 2021 to approve the proposal, with completion expected in Q2 2021. The spin-off is designed to be tax-free for stockholders. The separation aims to unlock Vimeo's growth potential and create a 'pure-play' equity currency for future capital raises.

IAC has released its monthly metrics for November, now accessible on its investor relations website. The company continues its mission to build and acquire innovative products and brands, operating notable entities like Vimeo, Dotdash, and Care.com. IAC's portfolio also includes a majority stake in ANGI Homeservices, which comprises services such as HomeAdvisor, Angie's List, and Handy. The firm emphasizes a principle of financially-disciplined opportunism in its evolving business landscape.

IAC will participate in the Barclays Global Technology, Media and Telecommunications Conference on December 10, 2020. The fireside chat featuring Glenn Schiffman, CFO of IAC, is scheduled for 10:30 a.m. ET. A live webcast will be accessible to the public via their investor relations page.

IAC is a leading company builder, operating brands like Vimeo and Dotdash, and is headquartered in New York City.

Vimeo, an operating business of IAC (NASDAQ: IAC), will participate in the UBS Global TMT Virtual Conference on December 7, 2020. Anjali Sud, CEO of Vimeo, will be featured in a fireside chat scheduled for 12:05 p.m. ET. A live webcast of the event will be accessible to the public via IAC's investor page.

As a leading professional video platform, Vimeo serves over 175 million members across more than 150 countries, helping users create and market impactful videos. For more information, visit www.vimeo.com.

IAC has announced the appointment of Kendall Handler as Senior Vice President and General Counsel, effective January 1, 2021. She succeeds Gregg Winiarski, who will step down on December 31, 2020, after over a decade in this role. Ms. Handler joined IAC in 2017, leading significant transactions, including the acquisition of Care.com and a $1 billion investment in MGM. CEO Joey Levin praised her contributions and expressed confidence in her leadership as IAC continues to build its future.

On November 17, 2020, The Spruce, a Dotdash brand, launched its new Organization Collection in partnership with Lowe's. Designed for innovative home organization, the product line includes BPA-free clear plastic bins in various shapes and sizes that enhance space utility. This collection marks its first entry into physical retail, with more than 100 application ideas identified by The Spruce's editorial team to assist customers in organizing their homes. The product line is available in Lowe's stores nationwide and online.

RoboKiller recently reported a surge in political text messages following the November 2020 elections, estimating nearly 270 million messages sent from November 4 to November 9. The majority of texts were from Republican sources, totaling over 216 million, but a 17% drop was noted since November 3. In contrast, Democratic messages saw a significant 65% decrease, dropping to under 8.5 million per day. RoboKiller anticipates continued high levels of political texting as future elections approach, emphasizing the importance of managing unwanted messages.

IAC has released its third quarter financial results along with a letter to shareholders, available on its investor relations website. A virtual conference call discussing the results will be held on November 6, 2020, at 8:30 a.m. ET. Key participants include CEO Joey Levin and CFO Glenn H. Schiffman. IAC continues its legacy of building and acquiring companies, maintaining ownership of brands like Vimeo, Dotdash, and ANGI Homeservices, which includes HomeAdvisor and Angie's List. The company is based in New York City.