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IAC/InterActiveCorp (IACI)

- NASDAQ
  • Tue, Jul. 14, 11:35 AM
    • Ahead of its planned IPO, InterActiveCorp's (IACI +1.5%) Match Group is buying online dating site PlentyOfFish for $575M in cash. The deal is expected to close in Q4.
    • Match CEO Sam Yagan: "For over a decade I have followed the consistent growth of PlentyOfFish, first within North America, then globally, and most recently across platforms, as one of the most popular mobile dating products in the world ... PlentyOfFish's addition both brings new members into our family of products and deepens the lifetime relationship we have with our users across our portfolio."
    • The purchase adds to a stable of online dating assets that includes Match.com, OKCupid, HowAboutWe, and a major stake in Tinder. IAC is making fresh highs
    | 10 Comments
  • Mon, Jan. 12, 6:38 PM
    • InterActiveCorp (NASDAQ:IACI) has sold restaurant-discovery app Urbanspoon to Indian restaurant app startup Zomato. TechCrunch reports the purchase price is "between $50 million and $60 million."
    • IAC acquired Urbanspoon in 2009, and added it to its CityGrid local services unit. CityGrid laid off ~2/3 of its staff in 2013 amid tough competition from Yelp and other local services platforms.
    • Meanwhile, Tinder (majority-owned by IAC) has bought Chill, the creator of ephermeral text messaging app Tappy. Tinder, which already offers an ephemeral messaging feature (Moments), suggests the purchase is an acqui-hire. CEO Sean Rad: "There are some specific things that [Tappy has] done in the past that we wouldn’t have to figure out on our own moving forward.”
    • Tinder is now seeing 1.5B swipes and 21M matches per day, up from 1B and 12M in October.
    | 2 Comments
  • Nov. 3, 2014, 12:30 PM
    • InterActiveCorp's (IACI -0.1%) Mindspark app development unit has bought Apalon, a Belarus-based mobile app development firm, for an undisclosed sum.
    • Apps developed by Apalon - examples include Weather Live and Notepad+ - collective have over 20 million MAUs, and have been downloaded over 100M times. Mindspark, for its part, has developed 80+ apps over its history.
    • Mindspark co-president Eric Esterlis: "The combination of Apalon's world-class mobile app development skills with Mindspark's proven ability to distribute digital applications at scale is a huge differentiator."
    • IAC has been buying companies at a heady pace this year.
    | Comment!
  • Oct. 14, 2014, 6:25 PM
    • Fresh off taking a $250M stake in studio Legendary Entertainment, SoftBank (OTCPK:SFTBF) has bought DramaFever, a site that offers free (ad-supported) and subscription-based access to foreign movies and TV shows, much of it from South Korea. The price is undisclosed for now.
    • Re/code previously reported InterActiveCorp (NASDAQ:IACI) was thinking about buying DramaFever, and said it heard of price tags ranging from $80M-$140M.
    • The Legendary and DramaFever deals follow SoftBank's hiring of Google sales chief Nikesh Arora to be the conglomerate's vice chairman and Internet/media chief.
    | 2 Comments
  • Oct. 8, 2014, 6:30 PM
    • Re/code reports InterActiveCorp (NASDAQ:IACI) is in talks with DramaFever, an online provider of Korean movies/TV shows believed to be looking for new funding or a buyer.
    • DramaFever offers both free/ad-supported content and a $10/month subscription service. Potential synergies exist between its library and IAC-controlled Vimeo.
    • Re/code reports hearing of price tags ranging from $80M-$140M for DramaFever. The company's dependence on a Hulu sub-licensing deal is said to be a concern among potential buyers.
    • IAC has been on an M&A spree in 2014. Recent purchases include Mhelpdesk, Ask.fm, The Princeton Review, and HowAboutWe.
    | Comment!
  • Sep. 17, 2014, 2:29 PM
    • Reuters reports it and then takes it away, as it cites "a source with knowledge of the matter" as saying an earlier report that IAC/InteractiveCorp (IACI +0.1%) had offered to buy Perion Network (PERI +4.1%) was untrue.
    • The earlier report said IAC has offered at least $500M for PERI, whose technology helps developers distribute apps and make money off them through advertising.
    | 1 Comment
  • Sep. 17, 2014, 6:52 AM
    • InterActiveCorp (NASDAQ:IACI) has offered to buy Perion (NASDAQ:PERI) for more than $500M, Reuters reports.
    • Perion had a strong Q2, but lowered its revenue and net income outlook for 2014 after Google altered its browser policy.
    | 1 Comment
  • Sep. 3, 2014, 3:56 PM
    • InterActiveCorp's (IACI -0.4%) HomeAdvisor unit has bought a majority stake in Mhelpdesk, provider of a cloud-based app that helps small/mid-sized field service teams do their jobs. Terms are undisclosed.
    • HomeAdvisor plans to begin offering (through a membership package) Mhelpdesk's software to professionals using its home services marketplace in January. Mhelpdesk is adding 1K+ new business users per month; HomeAdvisor, which competes against Angie's List, claims a base of 80K field service businesses.
    • IAC has gotten acquisition-hungry as of late: Over the last two months, Barry Diller's mini-conglomerate has bought Ask.fm, The Princeton Review, and HowAboutWe.
    | Comment!
  • Aug. 14, 2014, 11:21 AM
    • 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.
    | Comment!
  • Jul. 29, 2014, 6:16 PM
    • InterActiveCorp's (NASDAQ:IACI) Tutor.com unit has bought leading test prep/college admission services firm The Princeton Review for an undisclosed sum.
    • Going forward, Tutor.com will mostly offer its existing services (used to connect students with a network of online tutors) under The Princeton Review brand. Joint tutoring/test prep services are planned.
    • Tutor.com, acquired in early 2013, is part of IAC's recently-formed Match Group, which also includes the company's online dating assets. Acquiring The Princeton Review could put Tutor.com on better footing to compete against Chegg (NYSE:CHGG), which recently bought rival tutoring site InstaEDU.
    • IAC is only two weeks removed from buying online dating service HowAboutWe. The company's Q2 report arrives tomorrow morning.
    | 2 Comments
  • Jul. 14, 2014, 6:23 PM
    • InterActiveCorp (NASDAQ:IACI) has bought a portion of online dating startup HowAboutWe, including its core HowAboutWe Dating matchmaking/date-suggestion service. Terms are undisclosed.
    • The purchase doesn't include the HowAboutWe Couples service (offers pre-planned dates for couples). A portion of HowAboutWe's employees will be joining IAC.
    • HowAboutWe joins a stable of IAC's online dating assets headlined by Match, OkCupid, and a reported 70%+ stake in fast-growing Tinder.
    • Last December, IAC placed its dating properties, along with Tutor.com and DailyBurn, into a new operating unit called the Match Group. That move has fueled speculation a spinoff/IPO is in the pipeline.
    | 9 Comments
  • Mar. 18, 2014, 4:04 PM
    • InterActiveCorp's (IACI +2.1%) Vimeo online video unit has bought Cameo, developer of an iOS app that allows users to stitch together short films using video taken with an iPhone's camera, and to add various effects. Terms are undisclosed.
    • Last year, Vimeo bought Echograph, maker of an iOS app that turns video clips into animated GIFs. In both cases, one of Vimeo's goals has been to encourage more user-generated mobile content to be shared through its platform, which competes in the shadow of 800-lb. gorilla YouTube.
    • IAC followed equity markets higher today. Shares had sold off in recent weeks after rallying in February amid growing buzz (and downloads) for its Tinder mobile dating app.
    | Comment!
  • Dec. 9, 2013, 5:08 PM
    • ValueClick (VCLK) is selling its Owned & Operated Websites business, which includes properties such as Investopedia and U.K. price-comparison site PriceRunner, to InterActiveCorp (IACI) for an undisclosed sum. The deal is expected to close in January. (PR)
    • ValueClick announced last month (in tandem with disappointing Q3 results) it plans to sell its O&O unit, and focus on its online ad network/tech ops. O&O had Q3 revenue of $28.9M, and operating income of $4.5M.
    • IAC plans to add the business to its Search & Applications unit, which includes Ask.com, About.com, and Dictionary.com. The acquisition stands to provide Barry Diller's Web empire with a little more advertising scale.
    • With its numbers boosted by the About.com purchase, Search & Applications had Q3 revenue of $407.3M (54% of IAC's total revenue), and op. income of $87.8M (72% of the company total).
    | 1 Comment
  • Sep. 11, 2013, 6:24 PM
    • Daily Beast editor-in-chief and ex-New Yorker/Vanity Fair editor Tina Brown has left the online news  publication to start a new venture called Tina Brown Live Media. Executive editor John Avlon is reportedly likely to replace her.
    • With the site's future now in limbo, Bloomberg reports InterActiveCorp (IACI) is thinking of selling The Daily Beast.
    • Brown co-founded The Daily Beast with IAC chairman Barry Diller in '08. Her departure and Bloomberg's report comes a month after IAC unloaded Newsweek, which had been merged with The Daily Beast. Prior to the sale, IAC's Newsweek Daily Beast unit had been a drag on the company's bottom line.
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  • Aug. 5, 2013, 9:33 AM
    • International Business Times publisher IBT Media is buying Newsweek from InterActiveCorp (IACI -0.4%), but not online news publication The Daily Beast (part of the Newsweek Daily Beast JV). Terms are undisclosed.
    • Barry Diller has openly regretted buying Newsweek, whose shift to a digital-only model didn't do much to reverse its fortunes, and Variety reported the unit was on the block in May.
    • Even if IAC received minimal proceeds for the sale (quite possible), ridding itself of Newsweek could still be a positive, given the business' liabilities and track record of operating losses.
    | 1 Comment
  • Aug. 1, 2013, 11:14 AM
    • OpenTable (OPEN +7.2%) is buying Rezbook, the restaurant reservation platform developed by InterActiveCorp's (IACI -1.7%) UrbanSpoon restaurant app unit.
    • Rezbook was once feared as a serious rival to OpenTable, but the platform has made limited headway in the face of OpenTable's superior network effects. It currently has ~2K restaurant customers to OpenTable's 28K+.
    • As part of the deal, OpenTable is becoming the North American reservation platform for Urbanspoon's popular apps.
    • The deal comes as Yelp and Groupon both make efforts to encroach on OpenTable's turf.
    • OpenTable's Q2 results arrive this afternoon.
    | 2 Comments
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Company Description
IAC/InterActiveCorp is a media and Internet company. It is engaged in dating, education and fitness businesses with brands Match, OkCupid, Tinder; Search & Applications; Media; and eCommerce.