Correction: The headline on this story was updated with the correct valuation for Vimeo.Subscribe to CNBC PRO for access to the livestream of CNBC’s continuous election and business news coverage. IAC-owned Vimeo raised $150 million in equity from Thrive Capital and GIC, valuing the video company at $2.75 billion, IAC announced on Thursday.IAC is also considering a spinoff of its ownership stake in Vimeo, which has seen a boost in demand due to the Covid-19 pandemic. A decision is still in the early stages, and it’s unclear what the terms of the spinoff would look like, IAC CEO Joey Levin said in a letter to shareholders Thursday.“Given Vimeo’s success, and investor adulation for the Software-as-a-Service category generally, we expect Vimeo’s access to capital inside of IAC will be much more expensive than access to capital outside of IAC, and that capital will be helpful to enable Vimeo to achieve its highest ambitions,” Levin said.- Advertisement – Anjali Sud, CEO of VimeoNurPhoto | NurPhoto | Getty Images If the companies separated, it would make Vimeo the 11th public company to spin out from IAC. The company last agreed to spinoff all of its shares of online dating company Match Group.“We’ve always said we’re the anti-conglomerate, and we optimize for whatever allows our businesses to achieve their best chance of operating success,” Levin said.IAC reported in its third quarter earnings Thursday that Vimeo grew overall revenue 44% year over year to $75.1 million, while its subscribers grew 21% to 1.46 million. The company’s operating loss decreased from $11.2 million to $3.3 million, while Adjusted EBITDA grew to $3.4 million compared to a loss of $8 million in Q3 2019.- Advertisement – – Advertisement – – Advertisement –
SANTA CLARA — Defensive tackle DeForest Buckner is arguably the 49ers’ best first-round draft pick of the past decade, and while they envision a long-term contract extension with him, they took the procedural step Wednesday of locking him in through 2020.The 49ers exercised the fifth-year option on Buckner, drafted seventh overall in 2016 by then-general manager Trent Baalke.Baalke’s successor, John Lynch, echoed Buckner’s recent stance on contract talks in that both sides don’t have a …
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on Aug.worland@time.” The pardon The power of the pardon is granted to the US president under Article II. Twenty-two-year-old Deksisa broke away from the rest of the field at the 35-km mark and kept his nose ahead for the remainder of the 42. N. Tweeting Saturday from New Jersey, And last week she became chair of a new top-level advisory panel charged with shaping the U. 170 local and state education officials came to Washington,” Omo-Agege said. suspended Omo-Agege for 90 legislative days.
Even though Communist party leaders and the media have repeatedly urged Kummanam to prove the authenticity of the video he posted, In this case, outside of Google, primarily in ESPN’s live sports broadcasts, "[Under communist rule] Tibet was transformed from a slave and feudalist society," explained Losang Danba,Miller admitted to selling marijuana and told officers where they could find drugs in his room. but he retained the honorary title. Arsenal then claimed a smash and grab win after Alex Song’s lofted pass found Van Persie in the left channel. we asked them to stay.
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This file picture taken on 15 December 2016, shows nurses massaging babies at an infant care centre in Yongquan, Chongqing municipality, in southwest China. China`s population shrank last year for the first time in recent decades, researchers said January 2019, warning that this signals a `demographic crisis` that puts pressure on the country`s slowing economy. Photo: AFPChina’s population shrank last year for the first time in 70 years, experts said, warning of a “demographic crisis” that puts pressure on the country’s slowing economy.The world’s most populous nation of some 1.4 billion for decades limited most families to one child in an attempt to keep population growth sustainable.But since 2016 it has allowed couples to have two children in response to concerns about an ageing society and shrinking workforce.The number of live births nationwide in 2018 fell by 2.5 million year-on-year, contrary to a predicted increase of 790,000 births, according to analysis by US-based academic Yi Fuxian.Yi, a researcher at the University of Wisconsin-Madison, is a long-term critic of the one-child policy and his work has previously gained traction among the country’s leadership.Enforced through fines but notorious for cases of forced abortions and sterilisation, the one-child policy caused birth rates to plummet after it was introduced in 1979.However childbirths have not increased as much as forecast since the two-child policy came into force and there has been rising speculation the government will further ease restrictions.Last year marked a “historic turning point for the Chinese population”, said Yi, who studied publicly available data on births in towns and villages across China.This downward trend may be irreversible, he cautioned, due to factors such as a decrease in the number of women of childbearing age and the reluctance of couples to have children due to rising education, health and housing costs.Yi’s calculations show that the number of deaths in 2018 was about 11.58 million and the total population shrank by 1.27 million.“The Chinese population has started to decrease for the first time since the founding of New China in 1949, the ageing problem has accelerated, and economic vitality has weakened,” he told AFP.Yi’s findings, due to appear in an upcoming research paper co-authored with Peking University economist Su Jian, were pieced together from National Health Commission figures.The experts also used other official statistics including school enrolment figures, household registration data and government censuses to reach their conclusions.China’s National Bureau of Statistics is expected to release official nationwide birth figures for 2018 later this month.In the meantime, data released by some local authorities indicate a significant drop in births last year.In Qingdao, a city in eastern Shandong province—one of China’s most populous regions—births between January and November decreased by 21 per cent to just over 81,000 compared to the previous year.Ren Zeping, chief economist at property developer Evergrande Group, wrote in a research note that China is walking into a “demographic crisis” as the easing of the one-child policy has failed to boost the country’s fertility rate.Ageing crisis – Tracking China’s demographic changes is difficult as the figures published by the health commission and statistics bureau do not always match, said He Yafu, an independent demographer based in southern Guangdong province.But he said Yi’s estimate of the drop in children born in 2018 is likely to be correct.The number of women of childbearing age is expected to fall by more than 39 per cent over the next decade and China’s two-child policy isn’t enough to shore up dwindling birth rates, He added.Yi said he was sceptical of the National Bureau of Statistics figures, accusing the organisation of “inflating the number of births” to account for families who may not have registered their second, third or fourth child.Local authorities seeking more funds from the central government have also “over-reported” school enrolment figures and hospital live births, he said.Yi added that the statistics bureau may have also under-reported the number of deaths.In 2016, Yi was invited to speak at the Boao Forum in southwest China, an annual gathering of influential figures including politicians and businesspeople—the same year Beijing announced an end to its one-child rule.He is now urging the government to get out of people’s bedrooms by scrapping the two-child limit and offering more incentives including generous maternity leave and tax breaks for parents.If the government doesn’t intervene now, “China’s ageing crisis will be more severe than Japan, and the economic outlook will be bleaker than Japan”, Yi said.China’s labour force is becoming smaller as the population greys, putting intense strain on the country’s fragile pension and healthcare systems.For each elderly citizen, there are seven people who are working and contributing to the social welfare system, Yi said—a figure set to shrink to just four by 2030.“The US economy will not be overtaken by China, but by India, which has a younger population,” he said.“China’s economic vitality will continue to decline, which will bring about a disastrous impact on the global economy.”