PandoDaily–the tech news website started by former TechCrunch employee, Sarah Lacy, and staffed with several former TechCrunch writers–got a pretty big scoop yesterday, assuming it turns out to be accurate. According to “two sources familiar with the situation,” IAC is considering an attempt to sell off their video property, Vimeo.
The plan is to try and raise a $50 Million funding round, while spinning off Vimeo as part of the move. The sources for the story put the asking price at nearly $300, which is likely to be seen as too high by most of the companies that would be interested in buying Vimeo. The PandoDaily article points out that while Vimeo has revenues, they aren’t very substantial.
It’ll be interesting to see if this pans out, and if so… if they can get it sold. Vimeo could be different things to different people, depending on their backgrounds and outlook on the future. It could be a hipster YouTube alternative for artist types, and attempt to grow that market. Or… it could be a money pit that will never come close to challenging the big boys or turning out revenue.
Whether or not Vimeo holds any beauty as an investment will be in the eyes of its beholders. I definitely think there’s plenty of room in the market for sites like Vimeo to serve the non-YouTube users.