0001837686-21-000011 | 10-Q | XBRL Viewer

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2021	Jul. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	333-251656-01
Entity Registrant Name	VIMEO, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-4334195
Entity Address, Address Line One	555 West 18th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10011
City Area Code	212
Local Phone Number	314-7300
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	VMEO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Central Index Key	0001837686
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		155,227,791
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,399,250

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 331,024	$ 110,011
Accounts receivable, net	16,383	12,785
Prepaid expenses and other current assets	16,090	7,932
Total current assets	363,497	130,728
Leasehold improvements and equipment, net	3,232	3,321
Goodwill	219,337	219,337
Intangible assets with definite lives, net	7,383	10,854
Other non-current assets	19,417	6,839
TOTAL ASSETS	612,866	371,079
LIABILITIES:
Accounts payable, trade	4,563	3,324
Promissory note due on demand—related party	0	44,565
Deferred revenue	165,338	137,436
Accrued expenses and other current liabilities	55,153	47,432
Total current liabilities	225,054	232,757
Long-term debt—related party	0	50,000
Other long-term liabilities	8,674	3,242
Commitments and contingencies
SHAREHOLDERS' EQUITY:
Preferred stock, value	0	0
Additional paid-in-capital	677,667	366,676
Accumulated deficit	(300,088)	(283,009)
Accumulated other comprehensive loss	(86)	(87)
Total shareholders' equity	379,138	85,080
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	612,866	371,079
Common Stock
SHAREHOLDERS' EQUITY:
Common stock, value	1,551
Class B common stock
SHAREHOLDERS' EQUITY:
Common stock, value	$ 94
Vimeo OpCo Class A Voting stock
SHAREHOLDERS' EQUITY:
Common stock, value		837
Vimeo OpCo Class B Non-Voting stock
SHAREHOLDERS' EQUITY:
Common stock, value		$ 663

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	100,000,000	50,000,000
Preferred stock issued (shares)	0	0
Preferred stock outstanding (shares)	0	0
Common Stock
Common stock, par value (USD per share)	$ 0.01
Common stock authorized (in shares)	1,600,000,000
Common stock issued (shares)	155,065,000
Common stock outstanding (shares)	155,065,000
Class B common stock
Common stock, par value (USD per share)	$ 0.01
Common stock authorized (in shares)	400,000,000
Common stock issued (shares)	9,399,000
Common stock outstanding (shares)	9,399,000
Vimeo OpCo Class A Voting stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)		150,000,000
Common stock issued (shares)		83,656,000
Common stock outstanding (shares)		83,656,000
Vimeo OpCo Class B Non-Voting stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)		150,000,000
Common stock issued (shares)		66,285,000
Common stock outstanding (shares)		66,285,000

CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue	$ 96,046	$ 67,334	$ 185,468	$ 124,302
Cost of revenue (exclusive of depreciation shown separately below)	25,771	22,899	50,727	41,257
Gross profit	70,275	44,435	134,741	83,045
Operating expenses:
Research and development expense	27,062	16,262	48,538	31,555
Sales and marketing expense	40,248	26,519	72,317	51,644
General and administrative expense	21,508	10,983	36,026	23,187
Depreciation	186	102	300	160
Amortization of intangibles	1,583	2,915	3,471	6,038
Total operating expenses	90,587	56,781	160,652	112,584
Operating loss	(20,312)	(12,346)	(25,911)	(29,539)
Interest expense	(122)	0	(186)	0
Interest expense–related party	0	(2,372)	(726)	(4,825)
Other income (expense), net	142	(164)	10,229	(223)
Loss before income taxes	(20,292)	(14,882)	(16,594)	(34,587)
Income tax (provision) benefit	(100)	106	(485)	(449)
Net loss	$ (20,392)	$ (14,776)	$ (17,079)	$ (35,036)
Per share information:
Basic loss per share (USD per share)	$ (0.13)	$ (0.09)	$ (0.11)	$ (0.22)
Diluted loss per share (USD per share)	$ (0.13)	$ (0.09)	$ (0.11)	$ (0.22)
Stock-based compensation expense by function:
Compensation expense	$ 14,695	$ 4,015	$ 19,607	$ 6,031
Cost of revenue
Stock-based compensation expense by function:
Compensation expense	169	21	189	25
Research and development expense
Stock-based compensation expense by function:
Compensation expense	5,748	706	7,468	1,166
Sales and marketing expense
Stock-based compensation expense by function:
Compensation expense	1,498	173	1,820	330
General and administrative expense
Stock-based compensation expense by function:
Compensation expense	$ 7,280	$ 3,115	$ 10,130	$ 4,510

CONSOLIDATED STATEMENT OF COMPREHENSIVE OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (20,392)	$ (14,776)	$ (17,079)	$ (35,036)
Other comprehensive income (loss):
Change in foreign currency translation	23	69	1	(51)
Total other comprehensive income (loss)	23	69	1	(51)
Comprehensive loss	$ (20,369)	$ (14,707)	$ (17,078)	$ (35,087)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock Common Stock	Common Stock Class B common stock	Common Stock Vimeo OpCo Class A Voting stock	Common Stock Vimeo OpCo Class B Non-Voting stock	Additional Paid-in-Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Balance at beginning of period at Dec. 31, 2019	$ 23,633			$ 750	$ 660	$ 223,754	$ (201,299)	$ (232)
Balance at beginning of period (in shares) at Dec. 31, 2019				75,000	66,021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(35,036)						(35,036)
Other comprehensive income (loss)	(51)							(51)
Stock-based compensation expense	6,031					6,031
Amounts related to settlement of equity awards	3				$ 3
Amounts related to settlement of equity awards (in shares)					260
Other	1,184					1,184
Balance at end of period at Jun. 30, 2020	(4,236)			$ 750	$ 663	230,969	(236,335)	(283)
Balance at end of period (in shares) at Jun. 30, 2020				75,000	66,281
Balance at beginning of period at Mar. 31, 2020	5,836			$ 750	$ 661	226,336	(221,559)	(352)
Balance at beginning of period (in shares) at Mar. 31, 2020				75,000	66,151
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(14,776)						(14,776)
Other comprehensive income (loss)	69							69
Stock-based compensation expense	4,015					4,015
Amounts related to settlement of equity awards	2				$ 2
Amounts related to settlement of equity awards (in shares)					130
Other	618					618
Balance at end of period at Jun. 30, 2020	(4,236)			$ 750	$ 663	230,969	(236,335)	(283)
Balance at end of period (in shares) at Jun. 30, 2020				75,000	66,281
Balance at beginning of period at Dec. 31, 2020	85,080	$ 0	$ 0	$ 837	$ 663	366,676	(283,009)	(87)
Balance at beginning of period (in shares) at Dec. 31, 2020		0	0	83,656	66,285
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(17,079)						(17,079)
Other comprehensive income (loss)	1							1
Stock-based compensation expense	19,607					19,607
Amounts related to settlement of equity awards	(8,736)	$ 2		$ 1		(8,739)
Amounts related to settlement of equity awards (in shares)		213		133
Issuance of common stock, net of fees	299,750			$ 90		299,660
Issuance of common stock, net of fees (in shares)				9,000
Exchange of shares related to Spin-off	0	$ 1,500	$ 94	$ (928)	$ (663)	(3)
Exchange of shares related to Spin-off (in shares)		149,981	9,399	(92,789)	(66,285)
Restricted Stock Award	0	$ 49				(49)
Restricted Stock Award (in shares)		4,871
Other	515					515
Balance at end of period at Jun. 30, 2021	379,138	$ 1,551	$ 94	$ 0	$ 0	677,667	(300,088)	(86)
Balance at end of period (in shares) at Jun. 30, 2021		155,065	9,399	0	0
Balance at beginning of period at Mar. 31, 2021	389,134	$ 0	$ 0	$ 928	$ 663	667,348	(279,696)	(109)
Balance at beginning of period (in shares) at Mar. 31, 2021		0	0	92,789	66,285
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(20,392)						(20,392)
Other comprehensive income (loss)	23							23
Stock-based compensation expense	14,695					14,695
Amounts related to settlement of equity awards	(4,335)	$ 2				(4,337)
Amounts related to settlement of equity awards (in shares)		213
Exchange of shares related to Spin-off	0	$ 1,500	$ 94	$ (928)	$ (663)	(3)
Exchange of shares related to Spin-off (in shares)		149,981	9,399	(92,789)	(66,285)
Restricted Stock Award	0	$ 49				(49)
Restricted Stock Award (in shares)		4,871
Other	13					13
Balance at end of period at Jun. 30, 2021	$ 379,138	$ 1,551	$ 94	$ 0	$ 0	$ 677,667	$ (300,088)	$ (86)
Balance at end of period (in shares) at Jun. 30, 2021		155,065	9,399	0	0

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Common Stock
Common stock, par value (USD per share)	$ 0.01
Class B common stock
Common stock, par value (USD per share)	0.01
Vimeo OpCo Class A Voting stock
Common stock, par value (USD per share)	0.01	$ 0.01	$ 0.01
Vimeo OpCo Class B Non-Voting stock
Common stock, par value (USD per share)	$ 0.01	$ 0.01	$ 0.01

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (17,079)	$ (35,036)
Adjustments to reconcile net loss to net cash provided by operating activities:
Stock-based compensation expense	19,607	6,031
Amortization of intangibles	3,471	6,038
Depreciation	300	160
Provision for credit losses	280	1,622
Gain on the sale of an asset	(10,217)	0
Other adjustments, net	540	2,386
Changes in assets and liabilities:
Accounts receivable	(5,248)	(6,755)
Prepaid expenses and other assets	(6,100)	(1,864)
Accounts payable and other liabilities	3,026	1,079
Deferred revenue	29,571	36,526
Net cash provided by operating activities	18,151	10,187
Cash flows from investing activities:
Capital expenditures	(215)	(433)
Proceeds from the sale of an asset	7,768	0
Other, net	0	98
Net cash provided by (used in) investing activities	7,553	(335)
Cash flows from financing activities:
Proceeds from sale of common stock, net of fees	299,750	0
Principal payments on related-party debt	(94,565)	(7,853)
Deferred financing costs	(1,440)	0
Withholding taxes paid related to equity awards	(8,181)	(1,089)
Proceeds from exercise of stock options	4	0
Net cash provided by (used in) financing activities	195,568	(8,942)
Total cash provided	221,272	910
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(57)	(32)
Net increase in cash and cash equivalents and restricted cash	221,215	878
Cash and cash equivalents and restricted cash at beginning of period	110,037	1,963
Cash and cash equivalents and restricted cash at end of period	$ 331,252	$ 2,841

THE COMPANY AND BASIS OF PRESENTATION	6 Months Ended
THE COMPANY AND BASIS OF PRESENTATION	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
THE COMPANY AND BASIS OF PRESENTATION	THE COMPANY AND BASIS OF PRESENTATION Nature of Operations Vimeo is the world’s leading all-in-one video software solution, providing the full breadth of video tools through a software-as-a-service model. Vimeo’s comprehensive and cloud-based tools empower its users to create, collaborate and communicate with video on a single, turnkey platform. As used herein, "Vimeo," "we," "our" or "us" and similar terms in these consolidated financial statements refer to Vimeo, Inc. (formerly Vimeo Holdings, Inc.) and its subsidiaries (unless the context requires otherwise). Spin-off On May 25, 2021, Vimeo completed its separation from the remaining businesses of IAC/InterActiveCorp ("IAC") through a series of transactions (which we refer to as the “Spin-off”) that resulted in the pre-transaction stockholders of IAC directly owning shares in both IAC and Vimeo, and in Vimeo becoming a separately traded public company. The Spin-off was structured to include the following steps: •Certain restructuring transactions, including, among other things, the transfer to Vimeo of IAC’s equity interests in Vimeo.com, Inc. ("Vimeo OpCo," formerly known as Vimeo, Inc.), and the repayment by Vimeo OpCo of all outstanding intercompany debt owed to IAC and its subsidiaries (other than Vimeo OpCo’s subsidiaries). •Amending IAC’s certificate of incorporation to provide for: ◦the reclassification of each share of IAC common stock, par value $0.001 into (i) one share of IAC common stock, par value $0.0001 and (ii) 1/100th of a share of IAC Series 1 mandatorily exchangeable preferred stock that was automatically exchanged for a number of shares of Vimeo common stock equal to an exchange ratio of 1.6235 (the "Spin-off Exchange Ratio," with holders receiving cash in lieu of any fractional shares of Vimeo common stock resulting, after aggregation, from the reclassification); and ◦the reclassification of each share of IAC Class B common stock, par value $0.001 into (i) one share of IAC Class B common stock, par value $0.0001 and (ii) 1/100th of a share of IAC Series 2 mandatorily exchangeable preferred stock that was automatically exchanged for a number of shares of Vimeo Class B common stock equal to the Spin-off Exchange Ratio (with holders receiving cash in lieu of any fractional shares of Vimeo Class B common stock resulting, after aggregation, from the reclassification). •The effectiveness of certain other amendments to IAC's certificate of incorporation. Prior to the Spin-off, IAC indirectly owned approximately 88% of Vimeo OpCo's outstanding shares, with the remaining Vimeo OpCo shares held by third parties. In connection with the Spin-off, the Vimeo OpCo shareholders agreement required IAC to cause the conversion of the Vimeo OpCo shares held by such non-IAC Vimeo OpCo stockholders into Vimeo common stock, which we refer to as the “Vimeo minority exchange.” The shareholders agreement also required that the non-IAC Vimeo OpCo stockholders be compensated (in the form of additional Vimeo equity) for dilution resulting from the issuance of Vimeo options in respect of vested IAC employee option awards that were adjusted in the Spin-off. Each such Vimeo OpCo shareholder was compensated for their ratable portion of 50% of the intrinsic value of the Vimeo options so issued, measured at the time of the Spin-off. The Vimeo Merger, as defined below, was completed pre-market on May 25, 2021 and satisfied these obligations. On the terms and subject to the conditions of the Agreement and Plan of Merger, as amended and restated on March 12, 2021 (the “Vimeo Merger Agreement”), following the Spin-off on May 25, 2021, Stream Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Vimeo (“Merger Sub”) merged with and into Vimeo OpCo, with Vimeo OpCo surviving as a wholly-owned subsidiary of Vimeo (the “Vimeo Merger”). Each share of Vimeo OpCo capital stock held prior to the Vimeo Merger by a non-IAC Vimeo OpCo stockholder was converted into 1.0143 ("Vimeo Merger Exchange Ratio") shares of Vimeo common stock (with holders receiving cash in lieu of any fractional shares of Vimeo common stock resulting, after aggregation, from the Vimeo Merger). Additionally, each restricted stock unit ("RSU") corresponding to shares of Vimeo OpCo ("Vimeo OpCo RSU") was converted into an RSU corresponding to shares of Vimeo common stock (“Vimeo RSU”), with the number of shares covered by such Vimeo RSU equal to the number of shares covered by the Vimeo OpCo RSU times the Vimeo Merger Exchange Ratio. Each stock appreciation right ("SAR") corresponding to shares of Vimeo OpCo (“Vimeo OpCo SAR”) was converted into a SAR corresponding to shares of Vimeo common stock (“Vimeo SAR”), with the number of shares covered by such Vimeo SAR equal to the number of shares covered by the Vimeo OpCo SAR times the Vimeo Merger Exchange Ratio and the per share exercise price of such Vimeo SAR equal to the per share exercise price of the Vimeo OpCo SAR divided by the Vimeo Merger Exchange Ratio. Basis of Presentation and Consolidation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited interim consolidated financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements for the year ended December 31, 2020 and notes thereto included in the registration statement on Form S-1 of Vimeo, Inc. filed with the SEC on May 26, 2021. All intercompany transactions and balances between and among Vimeo and its subsidiaries have been eliminated. All related party transactions between Vimeo and IAC and its subsidiaries, other than amounts related to the settlement of equity awards and borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated statement of cash flows as "Accounts payable and other liabilities" as operating activities. Amounts related to the settlement of equity awards and borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated statement of cash flows as financing activities. All related party balances between Vimeo and IAC and its subsidiaries, other than borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated balance sheet within "Accrued expenses and other current liabilities." Borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated balance sheet as "Promissory note due on demand—related party" and "Long-term debt—related party." Prior to the Spin-off, the consolidated financial statements of Vimeo OpCo and subsidiaries were prepared on a standalone basis and were derived from the historical accounting records of Vimeo OpCo and IAC. The accompanying consolidated financial statements reflect the historical financial position, results of operations and cash flows of Vimeo and its consolidated subsidiaries since their respective dates of acquisition by Vimeo and the allocation to Vimeo of certain IAC corporate expenses relating to Vimeo based on the historical accounting records of IAC. The allocation of certain IAC corporate expenses is reflected in the accompanying consolidated balance sheet within "Additional paid-in-capital." Additionally, income taxes were computed for Vimeo on an as if standalone, separate tax return basis and payments to and refunds from IAC for Vimeo’s share of IAC’s consolidated state tax return liabilities have been reflected within cash flows from operating activities in the accompanying consolidated statement of cash flows. In management’s opinion, the assumptions underlying the historical consolidated financial statements of Vimeo, including the basis on which the expenses have been allocated from IAC, are reasonable. However, these allocations may not reflect the expenses that Vimeo would have incurred as an independent, standalone company for the periods presented. Accounting Estimates Management of Vimeo is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with GAAP that affect the amounts reported in the consolidated financial statements and footnotes thereto. Actual results could differ from these estimates. Significant estimates and judgments inherent in the preparation of the consolidated financial statements include those related to: the carrying value of accounts receivable, including the determination of the allowance for credit losses; the determination of the estimated customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets ("ROU assets"); the useful lives and recoverability of intangible assets with definite lives; the recoverability of goodwill; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. Vimeo bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that Vimeo considers relevant. Revenue Recognition Vimeo's revenue is derived primarily from SaaS subscription fees paid by customers for self-serve and enterprise subscription plans. Revenue, in the amount that reflects the consideration Vimeo expects to be entitled to, is recognized on a straight-line basis over the contractual term of the arrangement beginning on the date that the service is made available to the customer. Subscription periods range from one month to three years with the most common being an annual subscription and are generally non-cancellable. Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of Vimeo's performance. Vimeo’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. Vimeo classifies deferred revenue as current when the remaining term of the applicable subscription period or expected completion of Vimeo's performance obligation is one year or less. The current and non-current deferred revenue balances at June 30, 2021 were $165.3 million and $1.1 million, respectively. Non-current deferred revenue is included in "Other long-term liabilities" in the accompanying consolidated balance sheet. The current and non-current deferred revenue balances at December 31, 2020 were $137.4 million and $0.8 million, respectively. During the six months ended June 30, 2021, Vimeo recognized $110.7 million of revenue that was included in the deferred revenue balance at December 31, 2020. During the six months ended June 30, 2020, Vimeo recognized $65.9 million of revenue that was included in the deferred revenue balance at December 31, 2019. Practical Expedients and Exemptions As permitted under the practical expedient available under Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, Vimeo does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which Vimeo recognizes revenue at the amount which Vimeo has the right to invoice for services performed. Assets Recognized from the Costs to Obtain a Contract with a Customer Vimeo has determined that certain costs, primarily commissions paid to employees pursuant to certain sales incentive programs, and mobile app store fees meet the requirements to be capitalized as a cost of obtaining a contract. Commissions paid to employees pursuant to certain sales incentive programs are amortized over the estimated customer relationship period. Vimeo calculates the estimated customer relationship period as the average customer life, which is based on historical data, and includes renewal periods because renewal commissions are not commensurate with the initial commission. For sales incentive programs where the customer relationship period is one year or less, Vimeo has elected to expense the costs as incurred, as permitted under the practical expedient. Vimeo generally capitalizes and amortizes mobile app store fees over the term of the applicable subscription. The current and non-current capitalized costs to obtain a contract with a customer are included in "Prepaid expenses and other current assets" and "Other non-current assets" in the accompanying consolidated balance sheet and were $3.2 million and $5.7 million, and $2.7 million and $4.9 million, at June 30, 2021 and December 31, 2020, respectively. Recent Accounting Pronouncements There are no recently issued accounting pronouncements that have not yet been adopted that are expected to have a material effect on the consolidated results of operations, financial condition or cash flows of Vimeo.

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Vimeo is included within IAC’s tax group for purposes of federal and consolidated state income tax return filings through the Spin-off. For all periods presented, the income tax provision was computed for Vimeo on an as-if-standalone separate tax return basis. Payments to and refunds from IAC for Vimeo's share of IAC’s consolidated state tax return liabilities, calculated on this basis, have been reflected within cash flows from operating activities in the accompanying consolidated statement of cash flows. At the end of each interim period, Vimeo estimates the annual expected effective income tax rate and applies that rate to its ordinary year-to-date earnings or loss. The income tax provision or benefit related to significant, unusual, or extraordinary items, if applicable, that will be separately reported or reported net of their related tax effects are individually computed and recognized in the interim period in which they occur. In addition, the effect of changes in enacted tax laws or rates, tax status, judgment on the realizability of a beginning-of-the-year deferred tax asset in future years or unrecognized tax benefits is recognized in the interim period in which the change occurs. The computation of the annual expected effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year, projections of the proportion of income (and/or loss) earned and taxed in foreign jurisdictions, permanent and temporary differences, and the likelihood of the realization of deferred tax assets generated in the current year. The accounting estimates used to compute the provision or benefit for income taxes may change as new events occur, more experience is acquired, additional information is obtained or Vimeo's tax environment changes. To the extent that the expected annual effective income tax rate changes during a quarter, the effect of the change on prior quarters is included in income tax provision in the quarter in which the change occurs. For the three months ended June 30, 2021 and 2020, Vimeo recorded an income tax provision of $0.1 million and an income tax benefit of $0.1 million, respectively. For the six months ended June 30, 2021 and 2020, Vimeo recorded an income tax provision of $0.5 million and $0.4 million, respectively. Vimeo is in a net operating loss ("NOL") position for federal and state income tax purposes. The largest deferred tax assets are the federal and state NOLs. Vimeo has recorded a valuation allowance for its net deferred tax assets because it has concluded that it is more likely than not that the NOLs will not be utilized due to its history of pre-tax losses. Vimeo recognizes interest and penalties related to unrecognized tax benefits, if applicable, in income tax provision. There are currently no accruals for interest or penalties. At both June 30, 2021 and December 31, 2020, unrecognized tax benefits were $1.9 million, all of which are for tax positions included in IAC's consolidated tax return filings. If unrecognized tax benefits at June 30, 2021 are subsequently recognized, there would be no impact to income tax provision due to the valuation allowance on deferred tax assets. Vimeo believes no unrecognized tax benefits would decrease by June 30, 2022. Vimeo is routinely under income tax audits by federal, state, local and foreign authorities as a result of previously filed separate company and consolidated tax returns with IAC. These audits include questioning the timing and the amount of income and deductions and the allocation of income and deductions among various tax jurisdictions. The Internal Revenue Service ("IRS") has substantially completed its audit of IAC's federal income tax returns for the years ended December 31, 2013 through 2017, which includes the operations of Vimeo. The statutes of limitations for the years 2013 through 2017 have been extended to June 30, 2022. Various other jurisdictions are open to examination for tax years beginning with 2009. Income taxes payable include unrecognized tax benefits that are considered to be sufficient to pay assessments that may result from the examination of prior year tax returns. Vimeo considers many factors when evaluating and estimating its tax positions and tax benefits, which may not accurately anticipate actual outcomes and, therefore, may require periodic adjustment. Although management currently believes changes in unrecognized tax benefits from period to period and differences between amounts paid, if any, upon resolution of issues raised in audits and amounts previously provided will not have a material impact on the liquidity, results of operations or financial condition of Vimeo, these matters are subject to inherent uncertainties and management's view of these matters may change in the future.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

Vimeo categorizes its financial instruments measured at fair value into a fair value hierarchy that prioritizes the inputs used in pricing the asset or liability. The three levels of the fair value hierarchy are:

•Level 1: Observable inputs obtained from independent sources, such as quoted market prices for identical assets and liabilities in active markets.

•Level 2: Other inputs, which are observable directly or indirectly, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices for identical or similar assets or liabilities in markets that are not active and inputs that are derived principally from or corroborated by observable market data. The fair values of Vimeo's Level 2 financial assets are primarily obtained from observable market prices for identical underlying securities that may not be actively traded. Certain of these securities may have different market prices from multiple market data sources, in which case an average market price is used.

•Level 3: Unobservable inputs for which there is little or no market data and for which Vimeo must develop its own assumptions, based on the best information available in the circumstances, about the inputs that market participants would use in pricing the assets or liabilities.

The following tables present Vimeo's financial instruments that are measured at fair value on a recurring basis:


	June 30, 2021
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	312,236	$	—	$	—	$	312,236


	December 31, 2020
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	104,852	$	—	$	—	$	104,852
Time deposits	—		544		—		544
Total	$	104,852	$	544	$	—	$	105,396

Vimeo's non-financial assets, such as goodwill, intangible assets with definite lives, ROU assets and leasehold improvements and equipment, are adjusted to fair value only if an impairment is recognized. Such fair value measurements are based predominantly on Level 3 inputs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

REVOLVING CREDIT FACILITY	6 Months Ended
REVOLVING CREDIT FACILITY	Jun. 30, 2021
Debt Disclosure [Abstract]
REVOLVING CREDIT FACILITY	REVOLVING CREDIT FACILITYOn February 12, 2021, Vimeo OpCo entered into a $100 million revolving credit facility (the "Credit Facility"), which expires on February 12, 2026. Any borrowings under the Credit Facility are guaranteed by Vimeo's wholly-owned material domestic subsidiaries, if any, and are secured by substantially all assets of Vimeo and any guarantors, subject to certain exceptions. At June 30, 2021, the commitment fee, which is based on the consolidated net leverage ratio most recently reported and the average daily amount of the available revolving commitments, was 20 basis points. Any borrowings under the Credit Facility would bear interest, at Vimeo's option, at either a base rate or LIBOR, in each case plus an applicable margin, which is determined by reference to a pricing grid based on Vimeo’s consolidated net leverage ratio. The financial covenants require Vimeo to maintain a minimum liquidity of not less than $50.0 million until December 31, 2022 and, thereafter, at the end of each quarterly test period, a consolidated net leverage ratio (as defined in the agreement) of not more than 5.5 to 1.0. The Credit Facility also contains customary affirmative and negative covenants, including covenants that would limit Vimeo’s ability to pay dividends or make distributions on or repurchase certain equity interests in the event a default has occurred or Vimeo’s consolidated net leverage ratio exceeds 4.0 to 1.0. At June 30, 2021, there were no outstanding borrowings under the Credit Facility.

SHAREHOLDERS' EQUITY	6 Months Ended
SHAREHOLDERS' EQUITY	Jun. 30, 2021
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY Description of Vimeo Common Stock and Vimeo Class B Common Stock Except as described herein, shares of Vimeo common stock and Vimeo Class B common stock are identical. In general, the holders of Vimeo common stock vote together as a single class with the holders of Vimeo Class B common stock on all matters, including the election of directors; provided, however, that the holders of Vimeo common stock, acting as a single class, are entitled to elect twenty-five percent (25%) of the total number of Vimeo directors, rounded up to the next whole number in the event of a fraction. Each outstanding share of Vimeo common stock and Vimeo Class B common stock entitles the holder to one vote per share and ten votes per share, respectively. The holders of shares of Vimeo common stock and the holders of shares of Vimeo Class B common stock are entitled to receive, share for share, such dividends as may be declared by Vimeo's Board of Directors out of funds legally available for the payment of dividends. In the event of a liquidation, dissolution, distribution of assets or winding-up of Vimeo, the holders of shares of Vimeo common stock and Vimeo Class B common stock are entitled to receive, share for share, all the assets available for distribution after payment of a proper amount to the holders of any series of Vimeo preferred stock, including any series that may be issued in the future. Upon completion of the Spin-off, Vimeo amended and restated its certificate of incorporation such that it is authorized to issue 1,600,000,000 shares of Vimeo common stock and 400,000,000 shares of Vimeo Class B common stock. Description of Preferred Stock Vimeo's Board of Directors is authorized to provide for the issuance of shares of preferred stock, and any class or series thereof, and to assign the designations, powers, preferences and rights to each such class or series and any qualifications, limitations or restrictions. There have been no preferred stock issuances to date. Sale of Common Stock In January 2021, Vimeo OpCo raised $300 million of equity capital via the sale of approximately 6.2 million shares of its Class A Voting common stock for $200 million, or $32.41 per share, at a $5.2 billion pre-money valuation, and approximately 2.8 million shares of its Class A Voting common stock for $100 million, or $35.35 per share, at a $5.7 billion pre-money valuation.

ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss consists of foreign currency translation adjustments:


	Three Months Ended June 30,
	2021		2020
	(In thousands)
Balance as of April 1	$	(109)	$	(352)
Other comprehensive income	23		69
Balance as of June 30	$	(86)	$	(283)


	Six Months Ended June 30,
	2021		2020
	(In thousands)
Balance as of January 1	$	(87)	$	(232)
Other comprehensive income (loss)	1		(51)
Balance as of June 30	$	(86)	$	(283)

At both June 30, 2021 and 2020, there was no income tax benefit or provision related to accumulated other comprehensive loss.

STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Vimeo has one active plan (the “2021 Plan”) which was adopted in connection with the Spin-off. The 2021 Plan replaced the Vimeo, LLC 2012 Incentive Plan, the Vimeo, Inc. 2017 Incentive Plan and the Vimeo, Inc. 2019 Incentive Plan (including the Israeli Appendix), collectively referred to as the “Prior Plans.” The Prior Plans were automatically terminated and replaced and superseded by the 2021 Plan upon the completion of the Spin-off. Any and all awards granted under the Prior Plans, remain in effect on their pre Spin-off terms pursuant to the 2021 Plan, subject to adjustment in connection with the Spin-off and the Vimeo Merger. The 2021 Plan also covers vested IAC stock options that were converted into Vimeo stock options in connection with the Spin-off.

The 2021 plan authorizes the Company to grant equity awards to its employees, officers, directors and consultants covering an aggregate of up to 10,000,000 shares of the Company's common stock. Equity awards provided for in the 2021 Plan include SARs, stock options, RSUs, and other stock-based awards related to shares of Vimeo common stock. The exercise price of stock options and SARs cannot be less than the market value of Vimeo common stock on the grant date. In connection with the settlement of stock-based awards, shares of Vimeo common stock may be issued either from authorized but unissued shares or from treasury stock.

Stock-based compensation expense primarily includes amounts related to the Company’s SARs, including performance-based SARs, RSUs, and Vimeo Restricted Shares (as described further below). The amount of stock-based compensation expense recognized is net of estimated forfeitures, as the expense recorded is based on awards that are ultimately expected to vest. The forfeiture rate is estimated at the grant date based on historical experience and revised, if necessary, in subsequent periods if actual forfeitures differ from the estimated rate. At June 30, 2021, there was $60.8 million of unrecognized compensation cost, net of estimated forfeitures, related to all outstanding SARs and RSUs which is expected to be recognized over a weighted-average period of 2.6 years. Additionally, there was $86.3 million of unrecognized compensation cost related to the Vimeo Restricted Shares which is expected to be recognized over the remaining vesting period of 9.4 years. For more information on the impact of the Spin-off and the Vimeo Merger on equity awards refer to "Note 1—The Company and Basis of Presentation."

Stock appreciation rights and stock options

SARs and stock options outstanding at June 30, 2021 and changes during the six months ended June 30, 2021 were as follows:


	SARs and stock options	Weighted average exercise price		Weighted average remaining contractual term in years	Aggregate intrinsic value
	(Shares and intrinsic value in thousands)
Outstanding Vimeo OpCo SARs at December 31, 2020	13,897	$	6.42
Granted	63	35.35
Exercised	(305)	5.52
Forfeited	(178)	6.56
Outstanding Vimeo OpCo SARs prior to Spin-off	13,477	6.57

Outstanding Vimeo SARs after Spin-off (a)	13,686	6.49
Conversion of Vested IAC Stock Options (b)	6,201	4.33
Exercised	(261)	5.27
Forfeited	(17)	7.15
Outstanding Vimeo SARs and Stock Options at June 30, 2021	19,609	5.82		6.5	$	846,717
Exercisable	12,809	$	5.02	5.6	$	563,340

____________________

(a) Reflects the conversion of unvested Vimeo OpCo SARs into Vimeo SARs by multiplying each award of Unvested Vimeo OpCo SARs prior to Spin-off by the Vimeo Merger Exchange Ratio.

(b) Reflects the conversion of vested IAC stock options into vested Vimeo stock options by multiplying each vested award of IAC stock options prior to the Spin-off by the Spin-off Exchange Ratio.

Restricted stock units

RSUs outstanding at June 30, 2021 and changes during the six months ended June 30, 2021 were as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
	(Shares in thousands)
Unvested Vimeo OpCo RSUs at December 31, 2020	88	$	17.33
Granted	1,734	35.35
Forfeited	(5)	35.35
Unvested Vimeo OpCo RSUs prior to Spin-off	1,817	34.48

Unvested Vimeo RSUs after Spin-off (a)	1,844	34.70
Granted	31	44.75
Unvested Vimeo RSUs at June 30, 2021	1,875	$	34.87

_____________________

(a) Reflects the conversion of unvested Vimeo OpCo RSUs into Vimeo RSUs by multiplying each award of Unvested Vimeo OpCo RSUs prior to Spin-off by the Vimeo Merger Exchange Ratio.

Vimeo Restricted Shares

In connection with the Spin-off, pursuant to which Vimeo equity awards were issued as part of the adjustment of certain outstanding IAC equity awards, Vimeo entered into a Restricted Stock Agreement (the “RSA”) with Joseph Levin, Chairman of the Vimeo board of directors and IAC’s Chief Executive Officer. The terms of the RSA were determined pursuant to the existing requirements of Mr. Levin’s restricted stock agreement with IAC as in effect prior to the Spin-off.

The RSA provides for a grant of 4,870,500 shares of Vimeo common stock (“Vimeo Restricted Shares”), that cliff vest on November 5, 2030, based on satisfaction of certain Vimeo stock price targets and Mr. Levin’s continuous service as a Vimeo director through the vesting date. The number of Vimeo Restricted Shares subject to the RSA is the result of the 3,000,000 shares of IAC Restricted common stock, subject to Mr. Levin’s restricted stock agreement with IAC, multiplied by the Spin-off Exchange Ratio.

Mr. Levin may elect to accelerate vesting of the Vimeo Restricted Shares, effective on the 6th, 7th, 8th, or 9th anniversary of the original effective date of the IAC restricted stock agreement (November 5, 2020) (the “Effective Date”), in which case performance will be measured through such date, and Mr. Levin will receive a pro-rated portion of the award (based on the years elapsed from the Effective Date) and any remaining shares will be forfeited. The applicable stock price goals are proportionately lower on the earlier vesting dates.

The value of the Vimeo Restricted Shares was determined using a lattice model that incorporated a Monte Carlo simulation of Vimeo's stock price and IAC’s stock price as this award contains a market condition. The attribution of the estimated fair values of the awards (the sum of the fair value of the original IAC award as of the Effective Date, plus any incremental value as a result of the modification to the original IAC award) between IAC and Vimeo, was determined on a proportional basis as a function of the estimated fair value of each respective award as of the date of the Spin-off. The amount allocated to Vimeo was $87.3 million and is expected to be recognized over the remaining requisite service period through November 2030 subject to Mr. Levin’s continuous service as a Vimeo director.

Modification

In connection with the Spin-off and Vimeo Merger, the Company modified certain equity awards resulting in a modification charge of $14.0 million, of which $7.0 million was recognized as stock-based compensation expense in the three and six months ended June 30, 2021. The remaining charge is expected to be recognized over the vesting period of the modified awards.

LOSS PER SHARE

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

LOSS PER SHARE

Vimeo common stock and Class B common stock are treated as one class of common stock for earnings per share ("EPS") purposes as both classes of common stock participate in earnings, dividends and other distributions on the same basis. The Vimeo Restricted Shares are participating securities because these shares are unvested and have a non-forfeitable dividend right in the event the Company declares a cash dividend to common shareholders and participates in all other distributions of the Company in the same manner as all other Vimeo common shareholders. No allocation of undistributed losses was made for the three and six months ended June 30, 2021 as the Vimeo Restricted Shares do not participate in losses of the Company.

The following table sets forth the computation of basic and diluted loss per share attributable to common shareholders.


	Three Months Ended June 30,
	2021				2020
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net loss	$	(20,392)	$	(20,392)	$	(14,776)	$	(14,776)



Denominator: (a) (b) (c)
Weighted average basic shares outstanding	159,418		159,418		159,381		159,381
Dilutive securities	—		—		—		—
Denominator for loss per share—weighted average shares	159,418		159,418		159,381		159,381

Loss per share attributable to common stock shareholders:
Loss per share	$	(0.13)	$	(0.13)	$	(0.09)	$	(0.09)


	Six Months Ended June 30,
	2021				2020
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net loss	$	(17,079)	$	(17,079)	$	(35,036)	$	(35,036)



Denominator: (a) (b) (c)
Weighted average basic shares outstanding	159,399		159,399		159,381		159,381
Dilutive securities	—		—		—		—
Denominator for loss per share—weighted average shares	159,399		159,399		159,381		159,381

Loss per share attributable to common stock shareholders:
Loss per share	$	(0.11)	$	(0.11)	$	(0.22)	$	(0.22)

_____________________

(a) Vimeo Restricted Shares were included in shares of common stock issued and outstanding at June 30, 2021 in the accompanying consolidated balance sheet, but were excluded from the weighted average basic shares outstanding for EPS purposes because the number of shares that ultimately vest is subject to the satisfaction of the conditions described in "Note 7 —Stock-Based Compensation."

(b) For the three and six months ended June 30, 2021, approximately 26.4 million potentially dilutive equity awards were excluded from the computation of diluted EPS because the impact would have been anti-dilutive.

(c) Weighted average basic and dilutive shares outstanding for the three and six months ended June 30, 2020 reflect Vimeo's outstanding shares immediately after the completion of the Spin-off as described in "Note 1—The Company and Basis of Presentation."

FINANCIAL STATEMENT DETAILS

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL STATEMENT DETAILS

Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheet to the total amounts shown in the consolidated statement of cash flows:


	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
	(In thousands)
Cash and cash equivalents	$	331,024	$	110,011	$	2,648	$	1,939
Restricted cash included in other current assets	228		26		193		24
Total cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows	$	331,252	$	110,037	$	2,841	$	1,963

Restricted cash at June 30, 2021 and 2020 primarily consisted of a deposit related to a lease.

Restricted cash at December 31, 2020 and 2019 primarily consisted of a deposit related to corporate credit cards.

Credit Losses

The following table presents the changes in the allowance for credit losses for the six months ended June 30, 2021 and 2020, respectively:


	2021		2020
	(In thousands)
Balance at January 1	$	476	$	273
Current period provision for credit losses	280		1,622
Write-offs charged against the allowance	(522)		(451)
Recoveries collected	282		14
Balance at June 30	$	516	$	1,458

Accumulated Amortization and Depreciation

The following table provides the accumulated amortization and depreciation within the accompanying consolidated balance sheet:


Asset Category	June 30, 2021		December 31, 2020
	(In thousands)
Right-of-use assets included in other non-current assets	$	5,561	$	4,727
Leasehold improvements and equipment	$	972	$	712
Intangible assets with definite lives	$	37,317	$	33,846

Other income (expense), net


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Other income (expense), net	$	142	$	(164)	$	10,229	$	(223)

Other income (expense), net generally relates to net foreign exchange gains and losses, and in the six months ended June 30, 2021 included a gain of $10.2 million related to the sale of Vimeo’s retained interest in its former hardware business.

Vimeo previously sold live streaming devices and accessories through its hardware business. Vimeo retained an interest in its former hardware business after it sold a majority stake on March 29, 2019 that provided it with rights to participate in and receive distributions in the event of positive cash flows or proceeds should there be another sale of the business. In the first quarter of 2021, the former hardware business, inclusive of Vimeo's retained interest, was sold and a gain was recognized. This gain includes amounts received by Vimeo in the first quarter of 2021 and funds held in escrow. Vimeo may receive additional consideration based on the revenue of its former hardware business relative to established targets through December 31, 2021. Such amounts will be recognized as income only if, and at the point in time, any additional consideration is received, or when it becomes probable that additional consideration will be received.

Geographic Concentrations

Geographic information about revenue and long-lived assets is presented below.

Revenue by geography is based on where the customer is located. The United States is the only country for which revenue was greater than 10% of Vimeo's total revenue for the three and six months ended June 30, 2021 and 2020.


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Revenue:
United States	$	48,920	$	33,858	$	94,715	$	63,469
All other countries	47,126		33,476		90,753		60,833
Total	$	96,046	$	67,334	$	185,468	$	124,302

Long-lived assets, excluding goodwill, intangible assets with definite lives and ROU assets, at June 30, 2021 and December 31, 2020 relate to "Leasehold improvements and equipment, net."


	June 30, 2021		December 31, 2020
	(In thousands)
Leasehold improvements and equipment, net:
United States	$	2,315	$	2,549
All other countries	917		772
Total	$	3,232	$	3,321

CONTINGENCIES	6 Months Ended
CONTINGENCIES	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIESIn the ordinary course of business, Vimeo is, and from time to time may become, a party to various legal proceedings. Vimeo establishes reserves for specific legal matters when it determines that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. Management has also identified certain other legal matters where it believes an unfavorable outcome is not probable and, therefore, no reserve is established. Although management currently believes that resolving claims against Vimeo, including claims where an unfavorable outcome is reasonably possible, will not have a material impact on the liquidity, results of operations or financial condition of Vimeo, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. Vimeo also evaluates other contingent matters, including income and non-income tax contingencies, to assess the likelihood of an unfavorable outcome and estimated extent of potential loss. It is possible that an unfavorable outcome of one or more of these lawsuits or other contingencies could have a material impact on the liquidity, results of operations or financial condition of Vimeo. See "Note 2—Income Taxes" for additional information related to income tax contingencies. EMI/Capitol Records Copyright Infringement Litigation In December 2009, a group of music publishers owned by EMI Music Publishing (now owned by Sony/ATV Music Publishing, a subsidiary of Sony Entertainment) and a group of then EMI-affiliated record companies, including Capitol Records (now owned by Universal Music Group, a subsidiary of Vivendi), filed two lawsuits against Vimeo and its former owner, Connected Ventures, in the U.S. District Court for the Southern District of New York. See Capitol Records, LLC v. Vimeo, LLC, No. 09 Civ. 10101 (S.D.N.Y.) and EMI Blackwood Music, Inc. v. Vimeo, LLC, No. 09 Civ. 10105 (S.D.N.Y.). In both cases, plaintiffs allege that Vimeo infringed their music copyrights (in the publishers’ musical compositions and the record companies’ sound recordings) by hosting and streaming videos uploaded by users (and in certain cases, former employees) featuring their musical works. Plaintiffs seek, among other things, injunctive relief and monetary damages. The initial complaints identified 199 videos as infringing (which Vimeo removed post-suit). Prior to suit, plaintiffs did not avail themselves of their right to submit a takedown notice to Vimeo pursuant to the online safe harbor provisions of the Digital Millennium Copyright Act of 1998 ("DMCA"), which limits the liability of online service providers for copyright infringement of their users when the provider takes certain measures. Vimeo asserts that the DMCA limits its liability because it complies with the DMCA and plaintiffs failed to submit takedown notices. Plaintiffs disagree, asserting various theories as to why the DMCA may not apply to some or all of the videos-in-suit. The district court bifurcated proceedings and required the parties to first litigate the issue of whether Vimeo satisfied the DMCA’s safe harbor provisions. On September 18, 2013, the district court granted partial summary judgment to Vimeo on 144 of the 199 original videos-in-suit on the ground that Vimeo complied with the threshold requirements of the DMCA and that there was no evidence that a Vimeo employee had watched the videos in question such that Vimeo had actual or "red flag" knowledge of infringement, which would disqualify the DMCA’s application. The court denied summary judgment as to 35 videos-in-suit on the ground that there was a material question of fact as to whether Vimeo had "red flag" knowledge of infringement based upon employees having watched all or part of these videos. The court further held that the DMCA did not apply to the record companies’ state-law claims regarding sound recordings fixed before February 1972; a trial was necessary to determine whether Vimeo was liable for employees who uploaded approximately 20 videos; and that plaintiffs should be permitted to amend their complaints to add over 1,500 videos allegedly infringing their copyrights (which Vimeo removed after receiving plaintiffs’ proposed amended complaint). Vimeo sought and obtained the right to appeal certain issues on an interlocutory basis to the U.S. Court of Appeals for the Second Circuit. On June 16, 2016, the Second Circuit held that (1) the district court had applied the incorrect summary-judgment standard for "red flag" infringement and that evidence that an employee watched all or part of a video containing plaintiffs’ music did not raise a genuine issue of fact as to whether Vimeo had "red flag" knowledge in such video; (2) the DMCA applies to state-law copyright infringement claims predicated on pre-1972 sound recordings; and (3) on an issue raised by plaintiffs in their cross-appeal, the record did not show that Vimeo was willfully blind towards infringing activity taking place on its platform. As a result of these rulings, the Second Circuit partially vacated the district court’s ruling and remanded the case for further proceedings consistent with its judgment. On March 31, 2018, the district court granted Vimeo’s motion to dismiss plaintiffs’ state-law unfair competition claims on the grounds that they were state-law copyright claims covered by the DMCA per the Second Circuit’s judgment. On May 28, 2021, the district court granted Vimeo summary judgment as to videos for which the sole remaining basis of liability the assertion that Vimeo had “red flag” knowledge of infringement. Vimeo believes that the allegations in these lawsuits are without merit and will defend vigorously against them. RTI Copyright Litigation Between 2012 and 2017, Italian broadcaster Reti Televisive Italiane s.p.a. and an affiliate thereof (collectively, "RTI") filed four lawsuits for copyright infringement against Vimeo in the Civil Court of Rome. See Reti Televisive Italiane s.p.a. v. Vimeo, LLC, Cause Nos. 23732/12, 62343/2015, and 59780/2017 (Rome Civil Court), and Medusa Film v. Vimeo, Inc., Cause No. 74775/2017 (Rome Civil Court). In each case, RTI asserts that Vimeo infringed its copyrights by hosting and streaming user-uploaded videos that allegedly contain RTI’s television or film programming, and seeks, among other things, injunctive relief and monetary damages. On January 15, 2019, the Civil Court of Rome concluded the first case (No. 23732/12) and entered a judgment against Vimeo, awarding RTI damages of EUR 8,500,000 plus interest and entering an injunction against Vimeo with respect to further acts of infringement. Vimeo filed an appeal and petitioned to stay the judgment pending appeal. On May 13, 2019, the Rome Court of Appeal stayed the judgment pending appeal. The appeal is currently pending. On June 2, 2019, the Civil Court of Rome concluded the second case (No. 62343/2015) and entered a judgment against Vimeo, awarding RTI damages of EUR 4,746,273 plus interest and entering an injunction against Vimeo as to further acts infringement. Vimeo filed an appeal and petitioned to stay the judgment pending appeal. The Rome Court of Appeal declined to stay the judgment. The appeal is currently pending. On October 26, 2020, RTI commenced a lawsuit against Vimeo in the U.S. District Court for the Southern District of New York to enforce the damages award of the June 2019 judgment. See Reti Televisive Italiane s.p.a. v. Vimeo, LLC, No. 20 Civ. 8954 (S.D.N.Y.). On December 22, 2020, Vimeo and RTI filed, and the district court entered, a stipulation and order staying the U.S. proceedings pending the final outcome of the appeals from the Italian judgment at issue. Proceedings in the third and fourth cases (Nos. 59780/2017 and 74775/2017, respectively) are pending before the Civil Court of Rome. Vimeo believes that the allegations in these lawsuits are without merit and will defend vigorously against them. Sony/Universal/Warner Copyright Litigation In March 2021, Sony Music Entertainment Italy (a subsidiary of Sony Music Entertainment Group), Warner Music Italia (a subsidiary of Warner Music Group), Universal Music Italia (a subsidiary of Universal Music Group), and Warner Music International Services (a subsidiary of Warner Music Group) filed a lawsuit against Vimeo in the Court of Milan alleging violations of Italian copyright and unfair competition laws. See Sony Music Entertainment Italy s.p.a. et al. v. Vimeo, Inc., Case No. 10977/2021 (Court of Milan, Business Division). The complaint alleges that Vimeo infringed plaintiffs’ copyrights by hosting and streaming user-uploaded videos that contain plaintiffs’ copyrighted works and that, upon notification of the alleged infringement, Vimeo employed a takedown process that did not comply with Italian law. The complaint seeks, among other things, injunctive relief. Vimeo has not yet responded to the complaint. Vimeo believes that the allegations in this lawsuit are without merit and will defend vigorously against them. Illinois Biometric Information Privacy Act Litigation On September 9, 2019, Bradley Acaley filed, on behalf of himself and other similarly situated individuals, a putative class action complaint against Vimeo in the Circuit Court of Cook County, Illinois. Vimeo thereafter removed the case to the U.S. District Court for the Northern District of Illinois, where it is now pending. See Bradley Acaley v. Vimeo, Inc., No. 19 Civ. 7164 (N.D. Ill.). In his complaint, plaintiff asserts that Vimeo’s Magisto mobile application collected facial biometric information in a manner that violated his rights under the Illinois Biometric Information Privacy Act ("BIPA"), and he seeks, among other things, injunctive relief and monetary damages. Vimeo moved to compel arbitration of the case. On June 1, 2020, the district court denied Vimeo’s motion. On June 18, 2020, Vimeo filed an appeal to the U.S. Court of Appeals for the Seventh Circuit. On June 23, 2020, the district court administratively closed the case pending appeal. Vimeo believes that the allegations in this lawsuit are without merit and will defend vigorously against them.

RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2021

RELATED PARTY TRANSACTIONS

Relationship with IAC

Following the Spin-off, the relationship between Vimeo and IAC is governed by a number of agreements. These agreements include: a separation agreement; a tax matters agreement; a transition services agreement; an employee matters agreement; a data protection agreement; and an office lease agreement.

Through the end of 2021, Vimeo will continue to (i) participate in IAC's health and welfare benefit plans, (ii) obtain certain services through contracts that are held in IAC's name, for which Vimeo reimburses IAC and (iii) obtain from IAC (or provide to) certain corporate support services. The total related charges for the three and six months ended June 30, 2021 and June 30, 2020 were $3.2 million and $5.9 million, and $2.2 million and $5.0 million, respectively. At June 30, 2021, Vimeo had a current payable due to IAC of $3.0 million, which was included in "Accrued expenses and other current liabilities" in the accompanying consolidated balance sheet and was subsequently paid in July 2021. At December 31, 2020, there was no amount due to IAC.

Upon the completion of the Spin-off, Vimeo entered into an operating lease agreement with IAC for the space we occupy in IAC's headquarters building. At June 30, 2021 Vimeo had a current lease liability of $4.1 million included in "Accrued expenses and other current liabilities" and a non-current lease liability of $4.0 million included in "Other long-term liabilities" in the accompanying consolidated balance sheet. Prior to the Spin-off, IAC allocated rent expense to Vimeo for the same space. The total rent for the three and six months ended June 30, 2021 and June 30, 2020 was $1.1 million and $1.9 million, and $0.8 million and $2.0 million, respectively.

For periods prior to the Spin-off, Vimeo’s consolidated statement of operations includes allocations of costs, including stock-based compensation expense, related to IAC’s accounting, treasury, legal, tax, corporate support, financial systems, and internal audit functions. These allocations were based on Vimeo's revenue as a percentage of IAC's total revenue. Allocated costs were $1.0 million for the six months ended June 30, 2021. There were no such costs allocated by IAC in the three months ended June 30, 2021. Allocated costs were $2.8 million and $3.6 million for the three and six months ended June 30, 2020. These allocations are reflected in the accompanying consolidated balance sheet within "Additional paid-in-capital." It is not practicable to determine the actual expenses that would have been incurred for these services had Vimeo operated as a standalone entity during the periods presented. Management considers the allocation method to be reasonable.

Debt—Related Party

The following table presents the carrying value and the estimated fair value of debt—related party, which is measured at fair value only for disclosure purposes:


	June 30, 2021				December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Promissory note due on demand—related party	$	—	$	—	$	44,565	$	44,565
Promissory note due May 2, 2023—related party	—		—		50,000		54,545
Total debt—related party	$	—	$	—	$	94,565	$	99,110

In January 2021, Vimeo OpCo repaid its outstanding related party debt to IAC in the amount of $99.5 million, which included accrued interest of $4.9 million, using a portion of the proceeds from the January 2021 primary equity raise described in "Note 5—Shareholders' Equity." Each promissory note bore interest at 10% per annum. Accrued interest on debt—related party at December 31, 2020 was $4.2 million and is included in "Accrued expenses and other current liabilities" in the accompanying consolidated balance sheet. The estimated fair value of debt—related party was based on Level 3 inputs and was estimated by discounting the future cash flows based on current market conditions.

THE COMPANY AND BASIS OF PRESENTATION (Policies)	6 Months Ended
THE COMPANY AND BASIS OF PRESENTATION (Policies)	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	Nature of Operations Vimeo is the world’s leading all-in-one video software solution, providing the full breadth of video tools through a software-as-a-service model. Vimeo’s comprehensive and cloud-based tools empower its users to create, collaborate and communicate with video on a single, turnkey platform. As used herein, "Vimeo," "we," "our" or "us" and similar terms in these consolidated financial statements refer to Vimeo, Inc. (formerly Vimeo Holdings, Inc.) and its subsidiaries (unless the context requires otherwise).
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") and with the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by GAAP for complete annual financial statements. In the opinion of management, the accompanying unaudited interim consolidated financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. Interim results are not necessarily indicative of the results that may be expected for the full year. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the annual audited consolidated financial statements for the year ended December 31, 2020 and notes thereto included in the registration statement on Form S-1 of Vimeo, Inc. filed with the SEC on May 26, 2021. All intercompany transactions and balances between and among Vimeo and its subsidiaries have been eliminated. All related party transactions between Vimeo and IAC and its subsidiaries, other than amounts related to the settlement of equity awards and borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated statement of cash flows as "Accounts payable and other liabilities" as operating activities. Amounts related to the settlement of equity awards and borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated statement of cash flows as financing activities. All related party balances between Vimeo and IAC and its subsidiaries, other than borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated balance sheet within "Accrued expenses and other current liabilities." Borrowings from and principal payments to certain IAC subsidiaries, are reflected in the accompanying consolidated balance sheet as "Promissory note due on demand—related party" and "Long-term debt—related party." Prior to the Spin-off, the consolidated financial statements of Vimeo OpCo and subsidiaries were prepared on a standalone basis and were derived from the historical accounting records of Vimeo OpCo and IAC. The accompanying consolidated financial statements reflect the historical financial position, results of operations and cash flows of Vimeo and its consolidated subsidiaries since their respective dates of acquisition by Vimeo and the allocation to Vimeo of certain IAC corporate expenses relating to Vimeo based on the historical accounting records of IAC. The allocation of certain IAC corporate expenses is reflected in the accompanying consolidated balance sheet within "Additional paid-in-capital." Additionally, income taxes were computed for Vimeo on an as if standalone, separate tax return basis and payments to and refunds from IAC for Vimeo’s share of IAC’s consolidated state tax return liabilities have been reflected within cash flows from operating activities in the accompanying consolidated statement of cash flows. In management’s opinion, the assumptions underlying the historical consolidated financial statements of Vimeo, including the basis on which the expenses have been allocated from IAC, are reasonable. However, these allocations may not reflect the expenses that Vimeo would have incurred as an independent, standalone company for the periods presented.
Accounting Estimates	Accounting Estimates Management of Vimeo is required to make certain estimates, judgments and assumptions during the preparation of its consolidated financial statements in accordance with GAAP that affect the amounts reported in the consolidated financial statements and footnotes thereto. Actual results could differ from these estimates. Significant estimates and judgments inherent in the preparation of the consolidated financial statements include those related to: the carrying value of accounts receivable, including the determination of the allowance for credit losses; the determination of the estimated customer relationship period for certain costs to obtain a contract with a customer; the carrying value of right-of-use assets ("ROU assets"); the useful lives and recoverability of intangible assets with definite lives; the recoverability of goodwill; contingencies; unrecognized tax benefits; the valuation allowance for deferred income tax assets; and the fair value of and forfeiture rates for stock-based awards, among others. Vimeo bases its estimates, judgments and assumptions on historical experience, its forecasts and budgets and other factors that Vimeo considers relevant.
Revenue Recognition	Revenue Recognition Vimeo's revenue is derived primarily from SaaS subscription fees paid by customers for self-serve and enterprise subscription plans. Revenue, in the amount that reflects the consideration Vimeo expects to be entitled to, is recognized on a straight-line basis over the contractual term of the arrangement beginning on the date that the service is made available to the customer. Subscription periods range from one month to three years with the most common being an annual subscription and are generally non-cancellable. Deferred Revenue Deferred revenue consists of payments that are received or are contractually due in advance of Vimeo's performance. Vimeo’s deferred revenue is reported on a contract-by-contract basis at the end of each reporting period. Vimeo classifies deferred revenue as current when the remaining term of the applicable subscription period or expected completion of Vimeo's performance obligation is one year or less. The current and non-current deferred revenue balances at June 30, 2021 were $165.3 million and $1.1 million, respectively. Non-current deferred revenue is included in "Other long-term liabilities" in the accompanying consolidated balance sheet. The current and non-current deferred revenue balances at December 31, 2020 were $137.4 million and $0.8 million, respectively. During the six months ended June 30, 2021, Vimeo recognized $110.7 million of revenue that was included in the deferred revenue balance at December 31, 2020. During the six months ended June 30, 2020, Vimeo recognized $65.9 million of revenue that was included in the deferred revenue balance at December 31, 2019. Practical Expedients and Exemptions As permitted under the practical expedient available under Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, Vimeo does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, (ii) contracts with variable consideration that is allocated entirely to unsatisfied performance obligations or to a wholly unsatisfied promise accounted for under the series guidance, and (iii) contracts for which Vimeo recognizes revenue at the amount which Vimeo has the right to invoice for services performed. Assets Recognized from the Costs to Obtain a Contract with a Customer Vimeo has determined that certain costs, primarily commissions paid to employees pursuant to certain sales incentive programs, and mobile app store fees meet the requirements to be capitalized as a cost of obtaining a contract. Commissions paid to employees pursuant to certain sales incentive programs are amortized over the estimated customer relationship period. Vimeo calculates the estimated customer relationship period as the average customer life, which is based on historical data, and includes renewal periods because renewal commissions are not commensurate with the initial commission. For sales incentive programs where the customer relationship period is one year or less, Vimeo has elected to expense the costs as incurred, as permitted under the practical expedient. Vimeo generally capitalizes and amortizes mobile app store fees over the term of the applicable subscription. The current and non-current capitalized costs to obtain a contract with a customer are included in "Prepaid expenses and other current assets" and "Other non-current assets" in the accompanying consolidated balance sheet and were $3.2 million and $5.7 million, and $2.7 million and $4.9 million, at June 30, 2021 and December 31, 2020, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There are no recently issued accounting pronouncements that have not yet been adopted that are expected to have a material effect on the consolidated results of operations, financial condition or cash flows of Vimeo.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

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+ Details

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present Vimeo's financial instruments that are measured at fair value on a recurring basis:


	June 30, 2021
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	312,236	$	—	$	—	$	312,236


	December 31, 2020
	Quoted Market Prices for Identical Assets in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	104,852	$	—	$	—	$	104,852
Time deposits	—		544		—		544
Total	$	104,852	$	544	$	—	$	105,396

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consists of foreign currency translation adjustments:


	Three Months Ended June 30,
	2021		2020
	(In thousands)
Balance as of April 1	$	(109)	$	(352)
Other comprehensive income	23		69
Balance as of June 30	$	(86)	$	(283)


	Six Months Ended June 30,
	2021		2020
	(In thousands)
Balance as of January 1	$	(87)	$	(232)
Other comprehensive income (loss)	1		(51)
Balance as of June 30	$	(86)	$	(283)

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Stock Appreciation Rights and Stock Options

SARs and stock options outstanding at June 30, 2021 and changes during the six months ended June 30, 2021 were as follows:


	SARs and stock options	Weighted average exercise price		Weighted average remaining contractual term in years	Aggregate intrinsic value
	(Shares and intrinsic value in thousands)
Outstanding Vimeo OpCo SARs at December 31, 2020	13,897	$	6.42
Granted	63	35.35
Exercised	(305)	5.52
Forfeited	(178)	6.56
Outstanding Vimeo OpCo SARs prior to Spin-off	13,477	6.57

Outstanding Vimeo SARs after Spin-off (a)	13,686	6.49
Conversion of Vested IAC Stock Options (b)	6,201	4.33
Exercised	(261)	5.27
Forfeited	(17)	7.15
Outstanding Vimeo SARs and Stock Options at June 30, 2021	19,609	5.82		6.5	$	846,717
Exercisable	12,809	$	5.02	5.6	$	563,340

____________________

(a) Reflects the conversion of unvested Vimeo OpCo SARs into Vimeo SARs by multiplying each award of Unvested Vimeo OpCo SARs prior to Spin-off by the Vimeo Merger Exchange Ratio.

(b) Reflects the conversion of vested IAC stock options into vested Vimeo stock options by multiplying each vested award of IAC stock options prior to the Spin-off by the Spin-off Exchange Ratio.

Summary of Restricted Stock Unit Activity

RSUs outstanding at June 30, 2021 and changes during the six months ended June 30, 2021 were as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
	(Shares in thousands)
Unvested Vimeo OpCo RSUs at December 31, 2020	88	$	17.33
Granted	1,734	35.35
Forfeited	(5)	35.35
Unvested Vimeo OpCo RSUs prior to Spin-off	1,817	34.48

Unvested Vimeo RSUs after Spin-off (a)	1,844	34.70
Granted	31	44.75
Unvested Vimeo RSUs at June 30, 2021	1,875	$	34.87

_____________________

(a) Reflects the conversion of unvested Vimeo OpCo RSUs into Vimeo RSUs by multiplying each award of Unvested Vimeo OpCo RSUs prior to Spin-off by the Vimeo Merger Exchange Ratio.

LOSS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Loss per Share

The following table sets forth the computation of basic and diluted loss per share attributable to common shareholders.


	Three Months Ended June 30,
	2021				2020
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net loss	$	(20,392)	$	(20,392)	$	(14,776)	$	(14,776)



Denominator: (a) (b) (c)
Weighted average basic shares outstanding	159,418		159,418		159,381		159,381
Dilutive securities	—		—		—		—
Denominator for loss per share—weighted average shares	159,418		159,418		159,381		159,381

Loss per share attributable to common stock shareholders:
Loss per share	$	(0.13)	$	(0.13)	$	(0.09)	$	(0.09)


	Six Months Ended June 30,
	2021				2020
	Basic		Diluted		Basic		Diluted
	(In thousands, except per share data)
Numerator:
Net loss	$	(17,079)	$	(17,079)	$	(35,036)	$	(35,036)



Denominator: (a) (b) (c)
Weighted average basic shares outstanding	159,399		159,399		159,381		159,381
Dilutive securities	—		—		—		—
Denominator for loss per share—weighted average shares	159,399		159,399		159,381		159,381

Loss per share attributable to common stock shareholders:
Loss per share	$	(0.11)	$	(0.11)	$	(0.22)	$	(0.22)

_____________________

FINANCIAL STATEMENT DETAILS (Tables)

6 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents


	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
	(In thousands)
Cash and cash equivalents	$	331,024	$	110,011	$	2,648	$	1,939
Restricted cash included in other current assets	228		26		193		24
Total cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows	$	331,252	$	110,037	$	2,841	$	1,963

Schedule of Restricted Cash


	June 30, 2021		December 31, 2020		June 30, 2020		December 31, 2019
	(In thousands)
Cash and cash equivalents	$	331,024	$	110,011	$	2,648	$	1,939
Restricted cash included in other current assets	228		26		193		24
Total cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows	$	331,252	$	110,037	$	2,841	$	1,963

Schedule of Changes in Allowance for Credit Losses

The following table presents the changes in the allowance for credit losses for the six months ended June 30, 2021 and 2020, respectively:


	2021		2020
	(In thousands)
Balance at January 1	$	476	$	273
Current period provision for credit losses	280		1,622
Write-offs charged against the allowance	(522)		(451)
Recoveries collected	282		14
Balance at June 30	$	516	$	1,458

Schedule of Accumulated Depreciation and Amortization

The following table provides the accumulated amortization and depreciation within the accompanying consolidated balance sheet:


Asset Category	June 30, 2021		December 31, 2020
	(In thousands)
Right-of-use assets included in other non-current assets	$	5,561	$	4,727
Leasehold improvements and equipment	$	972	$	712
Intangible assets with definite lives	$	37,317	$	33,846

Schedule of Other Income (Expense), Net

Other income (expense), net


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Other income (expense), net	$	142	$	(164)	$	10,229	$	(223)

Schedule of Revenue and Long-lived Assets by Geographic Area

Geographic information about revenue and long-lived assets is presented below.


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(In thousands)
Revenue:
United States	$	48,920	$	33,858	$	94,715	$	63,469
All other countries	47,126		33,476		90,753		60,833
Total	$	96,046	$	67,334	$	185,468	$	124,302

Long-lived assets, excluding goodwill, intangible assets with definite lives and ROU assets, at June 30, 2021 and December 31, 2020 relate to "Leasehold improvements and equipment, net."


	June 30, 2021		December 31, 2020
	(In thousands)
Leasehold improvements and equipment, net:
United States	$	2,315	$	2,549
All other countries	917		772
Total	$	3,232	$	3,321

RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value of Financial Instruments, Related Parties

The following table presents the carrying value and the estimated fair value of debt—related party, which is measured at fair value only for disclosure purposes:


	June 30, 2021				December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Promissory note due on demand—related party	$	—	$	—	$	44,565	$	44,565
Promissory note due May 2, 2023—related party	—		—		50,000		54,545
Total debt—related party	$	—	$	—	$	94,565	$	99,110

THE COMPANY AND BASIS OF PRESENTATION (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	May 25, 2021	May 24, 2021	Dec. 31, 2020
The Company and Summary of Significant Accounting Policies [Line Items]
Percentage of the intrinsic value of options compensated			0.50
Conversion of Vimeo OpCo capital into Vimeo common stock, exchange ratio (in shares)			1.0143
Deferred revenue	$ 165,338				$ 137,436
Non-current deferred revenue	1,100				800
Deferred revenue recognized during period	110,700	$ 65,900
Current capitalized sales commissions	3,200				2,700
Non-current capitalized sales commissions	$ 5,700				$ 4,900
Common Stock
The Company and Summary of Significant Accounting Policies [Line Items]
Common stock, par value (USD per share)	$ 0.01
Number of shares issued upon Spin-off per preferred stock exchanged (in shares)			1.6235
Class B common stock
The Company and Summary of Significant Accounting Policies [Line Items]
Common stock, par value (USD per share)	$ 0.01
IAC \| Common Stock
The Company and Summary of Significant Accounting Policies [Line Items]
Common stock, par value (USD per share)			$ 0.0001	$ 0.001
IAC \| Class B common stock
The Company and Summary of Significant Accounting Policies [Line Items]
Common stock, par value (USD per share)			$ 0.0001	$ 0.001
IAC \| Series 1 Mandatorily Exchangeable Preferred Stock
The Company and Summary of Significant Accounting Policies [Line Items]
Number of preferred stock issued upon reclassification of common stock (in shares)			0.01
IAC \| Series 2 Mandatorily Exchangeable Preferred Stock
The Company and Summary of Significant Accounting Policies [Line Items]
Number of preferred stock issued upon reclassification of common stock (in shares)			0.01
IAC
The Company and Summary of Significant Accounting Policies [Line Items]
Ownership percentage			88.00%

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax (provision) benefit	$ (100)	$ 106	$ (485)	$ (449)
Unrecognized tax benefits	$ 1,900		$ 1,900		$ 1,900

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Cash equivalents		$ 105,396
Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents		104,852
Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents		544
Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents		0
Money market funds
Assets:
Cash equivalents	$ 312,236	104,852
Money market funds \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents	312,236	104,852
Money market funds \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents	0	0
Money market funds \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$ 0	0
Time deposits
Assets:
Cash equivalents		544
Time deposits \| Quoted Market Prices for Identical Assets in Active Markets (Level 1)
Assets:
Cash equivalents		0
Time deposits \| Significant Other Observable Inputs (Level 2)
Assets:
Cash equivalents		544
Time deposits \| Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents		$ 0

REVOLVING CREDIT FACILITY (Details) - Revolving Credit Facility - Vimeo Credit Facility - USD ($)	6 Months Ended
	Jun. 30, 2021	Feb. 12, 2021
Revolving Credit Facility [Line Items]
Maximum borrowing capacity		$ 100,000,000
Annual commitment fee (in basis points)	0.20%
Covenant term, minimum liquidity requirement	$ 50,000,000.0
Covenant term, leverage ratio (no more than)	5.5
Covenant term, leverage ratio limiting ability to pay dividends, make distributions, or repurchase stock (no more than)	4.0
Borrowings outstanding under the credit facility	$ 0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

SHAREHOLDERS' EQUITY (Details) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Jan. 31, 2021 USD ($) $ / shares shares	Jun. 30, 2021 vote shares	May 25, 2021 shares	Dec. 31, 2020 shares
Sale of Equity Capital
Shareholders' Equity [Line Items]
Proceeds raised from sale of equity capital \| $	$ 300
Common Stock
Shareholders' Equity [Line Items]
Percentage of directors that can be elected by holders of Vimeo common stock		0.25
Votes per each share of stock \| vote		1
Common stock authorized (in shares) \| shares		1,600,000,000	1,600,000,000
Class B common stock
Shareholders' Equity [Line Items]
Votes per each share of stock \| vote		10
Common stock authorized (in shares) \| shares		400,000,000	400,000,000
Vimeo OpCo Class A Voting stock
Shareholders' Equity [Line Items]
Common stock authorized (in shares) \| shares				150,000,000
Vimeo OpCo Class A Voting stock \| Sale of Equity Capital, First Raise
Shareholders' Equity [Line Items]
Proceeds raised from sale of equity capital \| $	$ 200
Number of shares issued in sale of equity capital (in shares) \| shares	6,200,000
Price per share of stock issued in sale of equity capital (in dollars per share) \| $ / shares	$ 32.41
Enterprise valuation of Vimeo \| $	$ 5,200
Vimeo OpCo Class A Voting stock \| Sale of Equity Capital, Second Raise
Shareholders' Equity [Line Items]
Proceeds raised from sale of equity capital \| $	$ 100
Number of shares issued in sale of equity capital (in shares) \| shares	2,800,000
Price per share of stock issued in sale of equity capital (in dollars per share) \| $ / shares	$ 35.35
Enterprise valuation of Vimeo \| $	$ 5,700

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accumulated Other Comprehensive Loss
Balance at beginning of period	$ 389,134,000	$ 5,836,000	$ 85,080,000	$ 23,633,000
Other comprehensive income (loss)	23,000	69,000	1,000	(51,000)
Balance at end of period	379,138,000	(4,236,000)	379,138,000	(4,236,000)
Income tax provision (benefit)	100,000	(106,000)	485,000	449,000
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
Balance at beginning of period	(109,000)	(352,000)	(87,000)	(232,000)
Balance at end of period	(86,000)	(283,000)	(86,000)	(283,000)
Income tax provision (benefit)			0	0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Loss
Other comprehensive income (loss)	$ 23,000	$ 69,000	$ 1,000	$ (51,000)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

STOCK-BASED COMPENSATION - Narrative (Details) $ in Millions		3 Months Ended	6 Months Ended
	May 25, 2021 USD ($)	Jun. 30, 2021 USD ($) shares	Jun. 30, 2021 USD ($) plan shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans \| plan			1
Incremental compensation cost	$ 14.0
Incremental compensation cost from modification recognized in year of modification		$ 7.0	$ 7.0
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares covered under the plan (up to) \| shares		10,000,000	10,000,000
Stock Appreciation Rights (SARs) and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, net		$ 60.8	$ 60.8
Unrecognized compensation cost, period for recognition (in years)			2 years 7 months 6 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, net		86.3	$ 86.3
Unrecognized compensation cost, period for recognition (in years)			9 years 4 months 24 days
Director \| Restricted Stock \| Restricted Stock Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, net		$ 87.3	$ 87.3
Shares authorized for issuance (in shares) \| shares		4,870,500	4,870,500
IAC \| Director \| Restricted Stock \| Restricted Stock Agreement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares) \| shares		3,000,000	3,000,000

STOCK-BASED COMPENSATION - SARs and Options (Details) - Stock Appreciation Rights (SARs) and Options - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	5 Months Ended	6 Months Ended
	Jun. 30, 2021	May 24, 2021	Jun. 30, 2021
SARs and stock options
Outstanding, beginning balance (in shares)	13,686,000	13,897,000	13,897,000
Granted (in shares)		63,000
Conversion of Vested IAC Stock Options (in shares)	6,201,000
Exercised (in shares)	(261,000)	(305,000)
Forfeited (in shares)	(17,000)	(178,000)
Outstanding, ending balance (in shares)	19,609,000	13,477,000	19,609,000
Weighted average exercise price
Outstanding, weighted average exercise price beginning balance (in USD per share)	$ 6.49	$ 6.42	$ 6.42
Granted (in USD per share)		35.35
Conversion of Vested IAC Stock Options (in USD per share)	4.33
Exercised (in USD per share)	5.27	5.52
Forfeited (in USD per share)	7.15	6.56
Outstanding, weighted average exercise price ending balance (in USD per share)	$ 5.82	$ 6.57	$ 5.82
Outstanding, Weighted average remaining contractual life (in years)			6 years 6 months
Outstanding, Aggregate intrinsic value (in USD)	$ 846,717		$ 846,717
Exercisable, number exercisable at June 30, 2021 (in shares)	12,809,000		12,809,000
Exercisable, weighted average exercise price at June 30, 2021 (in USD per share)	$ 5.02		$ 5.02
Exercisable, weighted average remaining contractual life (in years)			5 years 7 months 6 days
Exercisable, aggregate intrinsic value at June 30, 2021 (in USD)	$ 563,340		$ 563,340

STOCK-BASED COMPENSATION - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) - $ / shares	1 Months Ended	5 Months Ended
	Jun. 30, 2021	May 24, 2021
Number of Shares
Unvested, beginning balance (in shares)	1,844,000	88,000
Granted (in shares)	31,000	1,734,000
Forfeited (in shares)		(5,000)
Unvested, ending balance (in shares)	1,875,000	1,817,000
Weighted Average Grant Date Fair Value
Unvested, weighted average grant date fair value, beginning balance (in USD per share)	$ 34.70	$ 17.33
Granted (in USD per share)	44.75	35.35
Forfeited (in USD per share)		35.35
Unvested, weighted average grant date fair value, ending balance (in USD per share)	$ 34.87	$ 34.48

LOSS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator, Basic
Net loss	$ (20,392)	$ (14,776)	$ (17,079)	$ (35,036)
Numerator, Diluted
Net loss	$ (20,392)	$ (14,776)	$ (17,079)	$ (35,036)
Denominator, Basic
Weighted average basic shares outstanding (shares)	159,418	159,381	159,399	159,381
Denominator, Diluted
Weighted average basic shares outstanding (shares)	159,418	159,381	159,399	159,381
Dilutive securities (shares)	0	0	0	0
Denominator for loss per share—weighted average shares (shares)	159,418	159,381	159,399	159,381
Loss per share attributable to common stock shareholders:
Basic loss per share (USD per share)	$ (0.13)	$ (0.09)	$ (0.11)	$ (0.22)
Diluted loss per share (USD per share)	$ (0.13)	$ (0.09)	$ (0.11)	$ (0.22)
Potentially dilutive securities excluded from calculation of diluted earnings per share (shares)	26,400		26,400

FINANCIAL STATEMENT DETAILS - Schedule of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 331,024	$ 110,011	$ 2,648	$ 1,939
Restricted cash included in other current assets	228	26	193	24
Total cash and cash equivalents and restricted cash as shown in the consolidated statement of cash flows	$ 331,252	$ 110,037	$ 2,841	$ 1,963

FINANCIAL STATEMENT DETAILS - Allowance for Credit Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at January 1	$ 476	$ 273
Current period provision for credit losses	280	1,622
Write-offs charged against the allowance	(522)	(451)
Recoveries collected	282	14
Balance at June 30	$ 516	$ 1,458

FINANCIAL STATEMENT DETAILS - Accumulated Amortization and Depreciation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Right-of-use assets included in other non-current assets	$ 5,561	$ 4,727
Leasehold improvements and equipment	972	712
Intangible assets with definite lives	$ 37,317	$ 33,846

FINANCIAL STATEMENT DETAILS - Other Income (Expense), Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Income Statements, Captions [Line Items]
Other income (expense), net	$ 142	$ (164)	$ 10,229	$ (223)
Disposal Group, Held-for-sale, Not Discontinued Operations \| Hardware Business
Condensed Income Statements, Captions [Line Items]
Gain on the sale of an asset			$ 10,200

FINANCIAL STATEMENT DETAILS - Revenue and Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 96,046	$ 67,334	$ 185,468	$ 124,302
Leasehold improvements and equipment, net	3,232		3,232		$ 3,321
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	48,920	$ 33,858	94,715	$ 63,469
Leasehold improvements and equipment, net	$ 2,315		$ 2,315		2,549
United States \| Revenue Benchmark \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percent (greater than)	10.00%	10.00%	10.00%	10.00%
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 47,126	$ 33,476	$ 90,753	$ 60,833
Leasehold improvements and equipment, net	$ 917		$ 917		$ 772

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

CONTINGENCIES (Details)				1 Months Ended	72 Months Ended
CONTINGENCIES (Details)	Jun. 02, 2019 EUR (€)	Jan. 15, 2019 EUR (€)	Sep. 18, 2013 video	Dec. 31, 2009 lawsuit video	Dec. 31, 2017 lawsuit
EMI/Capitol Records Copyright Infringement Litigation
Contingencies [Line Items]
Number of lawsuits \| lawsuit				2
Number of videos			199	199
Amended number of videos			1,500
EMI/Capitol Records Copyright Infringement Litigation \| Partial Summary Judgement
Contingencies [Line Items]
Number of videos			144
EMI/Capitol Records Copyright Infringement Litigation \| Denied Summary Judgement
Contingencies [Line Items]
Number of videos			35
EMI/Capitol Records Copyright Infringement Litigation \| Pending Litigation
Contingencies [Line Items]
Number of videos			20
RTI Copyright Litigation
Contingencies [Line Items]
Number of lawsuits \| lawsuit					4
Damages awarded, value \| €	€ 4,746,273	€ 8,500,000

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Compensation expense		$ 14,695,000	$ 4,015,000	$ 19,607,000	$ 6,031,000
Repayment of outstanding related party debt				94,565,000	7,853,000
IAC
Related Party Transaction [Line Items]
Compensation expense		0	2,800,000	1,000,000.0	3,600,000
Due to related party		3,000,000.0		3,000,000.0		$ 0
Current lease liability		4,100,000		4,100,000
Non-current lease liability		4,000,000.0		4,000,000.0
Repayment of outstanding related party debt	$ 99,500,000
Payment of accrued interest	$ 4,900,000
Accrued interest payable, related parties						$ 4,200,000
IAC \| Promissory note due on demand—related party
Related Party Transaction [Line Items]
Interest rate, stated percentage	10.00%
IAC \| Promissory note due May 2, 2023—related party
Related Party Transaction [Line Items]
Interest rate, stated percentage	10.00%
IAC \| IAC Health and Welfare Benefit Plans and Other Non-Occupancy
Related Party Transaction [Line Items]
Expenses incurred with related party		3,200,000	2,200,000	5,900,000	5,000,000.0
IAC \| IAC Headquarters Occupancy
Related Party Transaction [Line Items]
Expenses incurred with related party		$ 1,100,000	$ 800,000	$ 1,900,000	$ 2,000,000.0

RELATED PARTY TRANSACTIONS - Carrying Value and Fair Value of Financial Instruments (Details) - IAC - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Carrying Value
Related Party Transaction [Line Items]
Promissory notes - related party	$ 0	$ 94,565
Carrying Value \| Promissory note due on demand—related party
Related Party Transaction [Line Items]
Promissory notes - related party	0	44,565
Carrying Value \| Promissory note due May 2, 2023—related party
Related Party Transaction [Line Items]
Promissory notes - related party	0	50,000
Fair Value
Related Party Transaction [Line Items]
Promissory notes - related party	0	99,110
Fair Value \| Promissory note due on demand—related party
Related Party Transaction [Line Items]
Promissory notes - related party	0	44,565
Fair Value \| Promissory note due May 2, 2023—related party
Related Party Transaction [Line Items]
Promissory notes - related party	$ 0	$ 54,545