Shares of Vimeo Inc.
VMEO,
-17.01%
are off 17% Tuesday in their first day of trading since the video software company separated from IAC/InterActiveCorp.
IAC,
-5.45%.
Shares of IAC are off 5.3% in Tuesday afternoon trading. The companies announced earlier Tuesday that the spin-off of Vimeo was complete, with IAC shareholders receiving 1.6235 shares of Vimeo for each IAC share that they owned in a distribution that took place after the close of business Monday. Vimeo is the 11th company to come public out of IAC and it grew revenue 57% to $89.4 million in its latest quarter.