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Data: Yahoo Finance; Chart: Axios Visuals

Software firms that help other companies communicate are booming this year thanks to pandemic-driven remote-work.

Why it matters: Even when a vaccine is rolled out and lockdown provisions are lifted, most companies will likely maintain at least some work-from-home flexibility, which will bode well for software firms like Zoom, DocuSign, Twilio, Microsoft, Slack and others.

Driving the news: IAC, the internet holding company chaired by media mogul Barry Diller, announced to shareholders on Tuesday that it plans to spin off its enterprise video software company Vimeo.

  • Vimeo raised $150 million from outside investors this year, valuing the company at $2.75 billion — 10 times the company's revenue.
  • The round helped to boost Vimeo's fast-growing enterprise software licensing business, which now powers video tech for over 3,500 companies.
  • "We have long believed in the power of video to advance human expression and transform businesses," said Anjali Sud, CEO of Vimeo, in a statement.

The big picture: "While the pandemic is killing scores of businesses that depend on office workers, it's also making way for startups and titans alike to conquer a new industry — powering our remote lives," Axios' Erica Pandey notes.

Go deeper: The winners of a stay-at-home economy worth trillions

Go deeper

Jan 25, 2021 - Economy & Business

Audio messaging platform Yac raises $7.5M Series A

Yac

Yac, an online voice messaging platform, has raised $7.5 million in venture funding led by GGV Capital and the Slack Fund, which funded the app last year.

Why it matters: Yac helps companies integrate audio messaging into their workflow. It launched at the beginning of the pandemic and has benefitted enormously from companies needed improved communication during remote work.

Chauvin defense closing: "Does not have to prove his innocence"

Chauvin's defense attorney Eric Nelson opened his closing argument on Monday by reminding the jury that Derek Chauvin "does not have to prove his innocence."

Why it matters: The jury's verdict in Chauvin's murder trial is seen by advocates as one of the most crucial civil rights cases in decades.

Merrick Garland: Domestic terror is "still with us"

Photo: Kevin Dietsch/UPI/Bloomberg via Getty Images

In his first major speech, Attorney General Merrick Garland warned the nation Monday to remain vigilant against the rising threat of domestic extremism.

Why it matters: Domestic terrorism poses an "elevated threat" to the nation this year, according to U.S. intelligence. Garland has already pledged to crack down on violence linked to white supremacists and right-wing militia groups.