Seeking Alpha

IAC buys Q&A site Ask.fm

  • InterActiveCorp's (IACI +1.2%) Ask.com unit has acquired popular Q&A site/social network Ask.fm for an undisclosed sum.
  • Ask.fm has grown like wildfire over the last two years, and now claims 180M monthly unique users. It competes to an extent against fellow Q&A sites such as Quora and Yahoo Answers, but its base is more skewed towards teens. The site handles ~20K questions/minute, and its mobile apps have seen 40M+ downloads.
  • As part of the deal, Ask.fm's founders will be leaving the company, and IAC will be working with New York and Maryland's attorneys general to help Ask.fm "implement a set of best practices focused on increasing the safety of its services." The site has been criticized for failing to do enough to prevent bullying and harassment.
  • The purchase follows IAC's July acquisitions of The Princeton Review and HowAboutWe.
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