IAC Inc.

Good morning, everyone. Glenn Schiffman here, and welcome to the IAC and Angie Home Services fourth quarter earnings call. Joining me today is Joey Levin, CEO of IAC and chairman of Angie Home Services. Also, Brandon Ridenour, CEO of Angie Home Services, and Anjali Sood, CEO of Vimeo, will be joining the call. Welcome, Anjali. Similar to last quarter, supplemental to our quarterly earnings releases, IAC has also published its quarterly shareholder letter. We will not be reading the shareholder letter on this call. It is currently available on the investor relations section of IAC's website. I will shortly turn the call over to Joey to make a few brief introductory remarks, and then we'll open it up to Q&A. Before we get to that, I'd like to remind you that during this call, we may discuss our outlook and our future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or similar such statements. These forward-looking views are subject to risks and uncertainties, and our actual results could differ materially from the views expressed here today. Some of these risks have been set forth in IAC and Angie Home Services' fourth quarter press releases and our respective filings with the SEC. We'll also discuss certain non-GAAP measures, which include adjusted EBITDA, which we'll refer to today as EBITDA for simplicity during this call. I'll also refer you to our press releases, the IAC shareholder letter, and again, to the investor relations section of our websites for all comparable GAAP measures and full reconciliations of all material non-GAAP measures. Let's jump right into it.

Joey? Thanks, Glenn. I just want to correct one question. mistake I made there in the opening comments, which is repeated reference to a call stuck a little bit in the past right now. I want to welcome everybody here to our video. Those of you will be reading the transcript. You're missing out. We've got the beautiful smiling faces of all of our analysts, Anjali, Glenn, Brandon coming from from Denver. And this is not just a new way of doing things. It's also a great display of what is really central right now or the exciting story at IAC right now, which is Vimeo. And the fun part of this is not just that we've got everybody on video and we've got logos here and our names and chyrons and things like that, which is pretty cool, all using Vimeo's live stream technology. But the other piece is this is just the beginning of this video's journey with Vimeo. So after this, it will be edited, it will be shared, it will be archived. It will be part of our corporate library and we will have access to that forever on Vimeo. And it's a pretty cool display of what can be done. And obviously we're seeing that happen quite a bit all over the world now in really fun and interesting and exciting ways. And I'm sure we'll talk about that today. And the other thing I wanted to say is we had a great year in 2020 and we feel very good about how we did on a lot of different levels, a lot of different ways we measure ourselves. Of course, one big one is revenue, and growing through 2020 is quite an accomplishment. And in any given year, we enter the year, and we have big ambitions over the course of the year to accelerate. And where we finish the year growing 27% year-on-year in aggregate at IAC, and the individual stories within IAC are really what matter there. But that growth in aggregate is something we're really excited about, and the way the team operated. this year through all the things that were going on was really, really impressive. So that's the story I want to get. I know we've got a lot of people on here and we've got a lot of questions, so let's get to questions quickly. And Mark Schneider, why don't you lead us off there?

Great. Thanks, Joey. So for our first question, we'll go to Eric Sheridan from UBS.