IAC announced plans to spin off its full stake in Vimeo, the video hosting and software company, to IAC shareholders.

Vimeo was started in 2004 as a side project for employees of the online comedy platform "CollegeHumor." The project was quickly scooped-up by IAC in 2006 as part of a larger acquisition.

Shares in Interactive Corp. rose 14% after the company said its video subsidiary Vimeo will be spun off into its own company in 2021.

IAC announced today that it plans to turn Vimeo into an independent, publicly traded company. Last month, IAC CEO Joey Levin wrote a letter to ...

The decision to spin off Vimeo shows how the rise of streaming has impacted online business models and advertising, as Netflix and other companies make newly released movies such as "The Midnight ...