Some thoughts on $VMEO...

Pulled back last week on guidance for growth deceleration in second half of the year.

Here are some highlights from the conference call:
I believe that Vimeo's business outlook is solid. Secular tailwinds. I'm a customer and love its product.

If you believe $VMEO should trade at 20x '22 sales like other high growth SaaS names, it's a buy and should probably trade at $60 (current EV/'22 sales multiple is 12.7x).
But I've gotten into trouble buying stocks on a rel val thesis

With high growth companies, I always come back to "Why not just buy FB or GOOG?"

FB: EV/rev multiple of 8x and a fwd PE of 26x. 56% growth last q

GOOG: EV/rev multiple of 6.8x and a fwd PE of 29x. 62% growth last q
So I won't be buying VMEO.

Love the company.

But I feel like there are easier investing games for me to play.

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Investment Case
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