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IAC (company)
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factoids
Russell 1000 Component| area_served = Worldwide| key_people = Barry Diller (Chairman and Senior Executive) Joey Levin (CEO)| industry = Media| products = Interactive mediaMass MediaInternetUnited States Dollar>US$3.14 billion (2016)| operating_income = {{decrease}} US$32.6 million (2016)| net_income = {{decrease}} US$41.3 million (2016)| assets = {{profit}} US$4.65 billion (2016)| equity = {{profit}} US$2.01 billion (2016)WEBSITE=FORTUNE, 2019-02-28, | num_employees_year = 2017| predecessors = Silver King CommunicationsIAC BuildingNew York City, New York (state)>New York| location_country = U.S.iac.com}}}}IAC (InterActiveCorp) is an American holding company, that owns brands across 100 countries, mostly in media and Internet.WEB,weblink IAC - CrunchBase, CrunchBase, 2015-01-08,weblink" title="web.archive.org/web/20150107200250weblink">weblink 2015-01-07, no, {{Better source|date=May 2019}} The company is headquartered in New York City.WEB,weblink Our Brand Locations, IAC, 2014-01-28,weblink" title="web.archive.org/web/20121214115925weblink">weblink 2012-12-14, no, Joey Levin, who previously led the company's search & applications segment,WEB, Joey Levin {{!, IAC|url =weblink|website = iac.com|accessdate = 2015-12-16|archive-url =weblink" title="web.archive.org/web/20151222151358weblink">weblink|archive-date = 2015-12-22|dead-url = no|df = }} has served as Chief Executive Officer since June 2015.WEB,weblink IAC/InterActiveCorp | Leadership of IAC from company website, IAC, 2015-12-16,

History

1980s and 1990s

IAC was established in 1986 as Silver King Broadcasting Company, as part of a plan to increase viewership of the Home Shopping Network (HSN) by purchasing local television stations.REPORT, Form 10-K: Annual Report, HSN, Inc., April 14, 1997,weblink 3, EDGAR, 2017-08-27,weblink 2017-03-03, no, NEWS, Cable TV broker has a new vision, St. Petersburg Times, James Greiff, July 4, 1988,weblink NewsBank, By 1988, Silver King had bought 11 stations for about $220 million. The company was later renamed as HSN Communications, Inc., and then Silver King Communications, Inc. In 1992, Silver King was spun off to HSN shareholders as a separately traded public company.NEWS, HSN completes Silver King spinoff, The Roanoke Times, December 30, 1992,weblink NewsBank, In August 1995, Barry Diller acquired control of Silver King, in a deal backed by the company's largest shareholder, Liberty Media.NEWS,weblink Diller Is Cleared To Take Control of Silver King, New York Times, 2015-01-08, 1996-03-12,weblink" title="web.archive.org/web/20150112114519weblink">weblink 2015-01-12, no, NEWS, Return of the fox, Fort Worth Star-Telegram, Geraldine Fabrikant, August 26, 1995,weblink NewsBank, Diller, who had led the creation of the Fox network, reportedly hoped to use Silver King's stations as the foundation for a new broadcast network.In December 1996, Silver King acquired an 80% stake in HSN for $1.3 billion in stock, and changed its own name to HSN, Inc.NEWS, Silver King annexes HSN, Variety, December 19, 1996, Martin Peers,weblink 2016-02-13,weblink" title="web.archive.org/web/20160220122654weblink">weblink 2016-02-20, no, NEWS, HSN is acquired as deal is revamped, St. Petersburg Times, Mark Albright, August 27, 1996,weblink NewsBank, REPORT, Form 8-K: Acquisition or disposition of assets, Silver King Communications,weblink December 23, 1996, EDGAR, 2017-08-31,weblink 2017-07-10, no, At the same time, the company acquired Savoy Pictures, a failed film studio that owned four Fox affiliate stations through SF Broadcasting, for $210 million in stock.NEWS, Diller to take over Savoy, Home Shopping, UPI NewsTrack, November 27, 1995,weblink NewsBank, The company acquired several assets in the late 1990s. HSN purchased a controlling stake in Ticketmaster Group in July 1997,NEWS,weblink HSN, With 50.1%, Has Controlling Stake In Ticketmaster, New York Times, 2015-01-08, 1997-07-30,weblink" title="web.archive.org/web/20141113112042weblink">weblink 2014-11-13, no, and then acquired the rest of the company in June 1998.NEWS, USA Networks gets deal after boosting bid for Ticketmaster, Fort Worth Star-Telegram, March 11, 1998, Kevin Shinkle, Bloomberg,weblink NewsBank, REPORT, Form 10-K: Annual Report, USA Networks, Inc., 3, March 24, 1999,weblink EDGAR, 2017-08-27,weblink 2017-08-27, no, In February 1998, it acquired the television assets of Universal Studios (including USA Network, Sci-Fi Channel, and Universal Television's domestic production and distribution arms) for $4.1 billion.MAGAZINE,weblink Barry Diller Is No Visionary, But..., Fortune Magazine, 2015-01-08,weblink" title="web.archive.org/web/20150114191037weblink">weblink 2015-01-14, no, NEWS, HSN adds to TV fare; is renamed, The Tampa Tribune, February 13, 1998,weblink NewsBank, The company's name was changed to USA Networks, Inc. at this point. Continuing its acquisition strategy, the company acquired the Hotel Reservations Network in May 1999 for $149 million.NEWS,weblink USA Networks to acquire Hotel Reservation Network, Biz Journals, 2015-01-08,weblink" title="web.archive.org/web/20141113083620weblink">weblink 2014-11-13, no, REPORT, Form 10-K: Annual Report, USA Networks,weblink EDGAR, 69, March 2, 2000, 2017-08-27,weblink 2017-08-27, no, USA Networks merged the online division of Ticketmaster with city guide website CitySearch in September 1998, establishing a new company that went public as Ticketmaster Online–CitySearch (TMCS).REPORT, Form S-1: Registration Statement, Ticketmaster Online–CitySearch, 5, September 30, 1998,weblink EDGAR, 2017-08-27,weblink 2017-02-26, no, NEWS, Ticketmaster Online has IPO, Associated Press News Service, December 3, 1998,weblink NewsBank, USA then sold Ticketmaster proper to TMCS in 2001, retaining a 61 percent share in the combined company, which became known as simply Ticketmaster.NEWS, USA Networks consolidates Ticketmaster operations, Associated Press Archive, November 22, 2000, Gary Gentile,weblink NewsBank, PRESS RELEASE, Ticketmaster Online–CitySearch and Ticketmaster close transaction, Ticketmaster, January 31, 2001,weblink EDGAR, 2017-08-27,weblink 2017-08-27, no, USA brought Ticketmaster back under full ownership in 2003, purchasing all outstanding shares.PRESS RELEASE, USA Interactive completes acquisition of Ticketmaster, USA Interactive, January 16, 2003,weblink 2016-02-16,weblink" title="web.archive.org/web/20160221023715weblink">weblink 2016-02-21, no,

2000s

In the early 2000s, USA Networks began divesting itself of its traditional television broadcasting and production units. In May 2001, Univision Communications acquired USA Broadcasting (a division of USA Networks including 13 local stations).NEWS,weblink U.S. Approved Univision Deal, New York Times, 2015-01-15, 2001-05-09,weblink" title="web.archive.org/web/20141214010431weblink">weblink 2014-12-14, no, The next year, Vivendi bought the rest of USA's broadcast entertainment businesses, including the USA Network and Sci-Fi Channel.NEWS,weblink Vivendi Completes USA Deal, LA Times, 2015-01-15, 2002-05-08,weblink" title="web.archive.org/web/20141228095736weblink">weblink 2014-12-28, no, This led to the creation of a new company named Vivendi Universal Entertainment, led by Diller.NEWS,weblink Vivendi Seals $10.3B USA Networks Deal, FoxNews.com, 2015-01-15, 2001-12-17,weblink" title="web.archive.org/web/20141113081324weblink">weblink 2014-11-13, no, Throughout this transition, USA Networks continued to build up its online portfolio. In July 2001, the company entered the online travel business with its acquisition of Expedia,NEWS,weblink USA Networks acquires Expedia, The Chicago Tribune, 2015-05-18, 2001-07-17,weblink" title="web.archive.org/web/20150521043921weblink">weblink 2015-05-21, no, followed the next year by an acquisition of Interval International.WEB,weblink USA Interactive to Acquire Interval International..., HospitalityNet.org, 2015-05-18,weblink" title="web.archive.org/web/20150520233010weblink">weblink 2015-05-20, no, Following the shift in focus to online assets, the company changed its name to USA Interactive (USAI)WEB,weblink History, IAC, December 5, 2016,weblink" title="web.archive.org/web/20161216042339weblink">weblink 2016-12-16, no, The page repeatedly refers to "USAI", e.g. "USAI acquires Precision Response Corporation (announced 1/00)". in May 2002;PRESS RELEASE, USA Networks, Inc. completes transaction with Vivendi Universal; company renamed USA Interactive, USA Interactive, May 7, 2002,weblink EDGAR, 2017-08-27,weblink 2017-03-11, no, InterActiveCorp in June 2003;NEWS,weblink LendingTree suitor changing name, Biz Journals, 2015-01-15,weblink" title="web.archive.org/web/20141118091503weblink">weblink 2014-11-18, no, and finally to IAC/InterActiveCorp in July 2004.REPORT, Form 8-K: Current report, IAC/InteractiveCorp, July 14, 2004,weblink EDGAR, 2017-08-27,weblink 2017-08-27, no, In August 2003, IAC acquired the online mortgage comparison site LendingTree,NEWS,weblink USA Interactive Is Acquiring LendingTree In Stock Deal, New York Times, 2015-01-15, Saul, Hansell, 2003-05-06,weblink" title="web.archive.org/web/20141114052003weblink">weblink 2014-11-14, no, and in September, the company added discount travel website Hotwire.com to its growing list of acquisitions.NEWS,weblink InteractiveCorp to buy Hotwire, USA Today, 2015-01-15, 2003-09-22,weblink" title="web.archive.org/web/20141113083223weblink">weblink 2014-11-13, no, In October, IAC agreed to buy French travel site Anyway.com from Transat A.T. for $62.7 million.WEB,weblink Transat announces sale of Anyway.com to IAC/InterActiveCorp, The Free Library, 2015-01-15,weblink" title="web.archive.org/web/20141024234153weblink">weblink 2014-10-24, no, In 2004 and 2005, IAC continued its growth through acquisition, adding assets including TripAdvisor,NEWS,weblink Deals: InterActive Corp to Acquire TripAdvisor, New York Times, 2015-01-15, Saul, Hansell, 2004-03-17,weblink" title="web.archive.org/web/20141114052103weblink">weblink 2014-11-14, no, ServiceMagic,WEB,weblink IAC/InterActive Corp Acquires ServiceMagic, ACHR News, 2015-01-15,weblink" title="web.archive.org/web/20150402135338weblink">weblink 2015-04-02, no, and Ask Jeeves.NEWS,weblink AskJeeves Inc to Be Bought for $2 Billion, New York Times, 2015-01-15, Geraldine, Fabrikant, 2005-03-21,weblink" title="web.archive.org/web/20150402134329weblink">weblink 2015-04-02, no, It also launched Gifts.com during this period.NEWS,weblink IAC Launches Gift-Giving Web Site, Wall Street Journal, 2015-01-15, 2005-03-21,weblink" title="web.archive.org/web/20150402180429weblink">weblink 2015-04-02, no, In August 2005, the company bundled together its travel-related sites and spun them off as a new public company, Expedia, Inc.NEWS,weblink Spinoff of Expedia Comes at Tough Time for Its Sector, New York Times, 2015-01-15, Saul, Hansell, 2005-08-08,weblink" title="web.archive.org/web/20141114065455weblink">weblink 2014-11-14, no, Additional acquisitions in 2006 included Shoebuy.com,NEWS,weblink IAC/Interactive acquires online retailer ShoeBuy.com, Biz Journals, 2015-01-15,weblink" title="web.archive.org/web/20141113113844weblink">weblink 2014-11-13, no, which the company later sold to Jet,NEWS,weblink Walmart buys Zappos competitor ShoeBuy for $70M to help Jet.com battle Amazon in online apparel, 2017-01-06, GeekWire, 2017-01-09,weblink" title="web.archive.org/web/20170110015844weblink">weblink 2017-01-10, no, en-US, and Connected Ventures including CollegeHumor and Vimeo.MAGAZINE,weblink IAC Buys CollegeHumor.com, AdWeek, 2015-01-15,weblink" title="web.archive.org/web/20141113075222weblink">weblink 2014-11-13, no, In May 2008, IAC and Ask.com acquired Lexico, the owner of Dictionary.com, Thesaurus.com, and Reference.com."IAC to Buy Lexico to Boost Its Ask.com" {{Webarchive|url=https://web.archive.org/web/20170709233152weblink |date=2017-07-09 }}. Wall Street Journal. Retrieved February 11, 2015. In August 2008, IAC spun off several of its businesses, including: Tree.com (formerly LendingTree), the Home Shopping Network, Ticketmaster, and Interval International."IAC: And Then There Were Five" {{Webarchive|url=https://web.archive.org/web/20170729171746weblink |date=2017-07-29 }}. Forbes. Retrieved June 13, 2010.In 2009, IAC acquired UrbanspoonNEWS, IAC purchases Seattle restaurant guide site UrbanSpoon,weblink Seattle Times, 29 January 2015,weblink" title="web.archive.org/web/20150212004514weblink">weblink 2015-02-12, no, and People Media,WEB, IAC Buys More Dating Sites For $80 Million,weblink Business Insider, 29 January 2015,weblink" title="web.archive.org/web/20150212012939weblink">weblink 2015-02-12, no, and launched the production company Notional.NEWS, IAC Announces Launch of Production Company Notional,weblink PR Newswire, 29 January 2015,weblink" title="web.archive.org/web/20150201033426weblink">weblink 2015-02-01, no, IAC would later sell Urbanspoon to Zomato in 2015.WEB,weblink Zomato buys Urbanspoon for $52M to enter US, 12 January 2015,weblink" title="web.archive.org/web/20160314051637weblink">weblink 2016-03-14, no, 7 March 2018,

2010s

IAC's largest shareholder, Liberty Media, exited the company in 2010, following a protracted dispute over the 2008 spinoffs.NEWS, Diller on leaving the top spot at IAC: "The company wasn't being managed correctly", Fortune, Serwer, Andy, December 2, 2010,weblink 2016-02-14,weblink" title="web.archive.org/web/20160304050851weblink">weblink 2016-03-04, no, NEWS, Liberty Exits IAC For Evite, Gifts.com And $220M In Cash – Diller Steps Down As CEO, TechCrunch, Robin Wauters, December 2, 2010,weblink 2016-02-14,weblink" title="web.archive.org/web/20160222133833weblink">weblink 2016-02-22, no, Liberty traded its IAC stock for $220 million in cash, plus ownership of Evite and Gifts.com. On the same day, Diller stepped down as CEO, though he remained as chairman and Match.com CEO Greg Blatt was appointed to succeed him. That same year, IAC acquired dating site SinglesnetNEWS, Confirmed: Match.com Acquires Singlesnet,weblink Techcrunch, February 5, 2015,weblink" title="web.archive.org/web/20150214064105weblink">weblink 2015-02-14, no, and fitness site DailyBurn.NEWS, IAC Buys Into Fitness Social Network DailyBurn,weblink Techcrunch, February 5, 2015,weblink" title="web.archive.org/web/20150205194159weblink">weblink 2015-02-05, no, In January 2013, IAC acquired online tutoring firm Tutor.com.NEWS,weblink Biggest Online Tutor Bought By Barry Diller's IAC, ABC News, January 8, 2013, February 11, 2015, On August 3, 2013, IAC sold Newsweek to the International Business Times on undisclosed terms.NEWS,weblink IBT Media to Buy Newsweek from IAC, The Wall Street Journal, August 3, 2013, August 5, 2013, William, Launder,weblink" title="web.archive.org/web/20150406005847weblink">weblink 2015-04-06, no, On December 22, 2013, IAC fired their Director of Corporate Communications, Justine Sacco after an AIDS joke she posted to Twitter went viral,NEWS, Ronson, Jon, Jon Ronson, How One Stupid Tweet Blew Up Justine Sacco’s Life,weblink February 13, 2015, The New York Times Magazine, February 12, 2015, Going to Africa. Hope I don’t get AIDS. Just kidding. I’m white!,weblink" title="web.archive.org/web/20150212224248weblink">weblink 2015-02-12, no, being re-tweeted and scorned around the world.O'Connell, Mark, "First Thought, Worst Thought" {{Webarchive|url=https://web.archive.org/web/20140116224919weblink |date=2014-01-16 }}, New Yorker, January 13, 2014 The incident became a byword for the need for people to be cautious about what they post on social media.WEB, Giacomazzo, Bernadette,weblink "Top 10 Social Media Rules for Professionals (Hint: Don't Be Like Justine Sacco)" Latin Post, 10 January 2014, Latin Post, 2014-01-10, 2014-01-28,weblink" title="web.archive.org/web/20140112022745weblink">weblink 2014-01-12, no, In 2014, IAC acquired ASKfm for an undisclosed sum.NEWS,weblink IAC to acquire Ask.fm, agrees to combat cyberbullying, 14 August 2014, 14 August 2014,weblink" title="web.archive.org/web/20140819083214weblink">weblink 2014-08-19, no, Big News Network.com, In November 2018, IAC announced the acquisition of TelTech a software and mobile app company. WEB,weblink IAC FORM 10-Q November 9, 2018, www.sec.gov, 2019-03-21,

Match Group

In early 2009, IAC created Match Group, a conglomerate of Match.com and IAC's other dating sites.WEB,weblink Earnings Preview: What To Expect From Match.com On Tuesday, Sarhan, Adam, Forbes, en, 2019-08-23, After its formation, Match Group acquired a number of dating sites, including Singlesnet in 2010, OkCupid in 2011,NEWS,weblink IAC's Match.com buys rival OKCupid for $50M, 2 February 2011,weblink" title="web.archive.org/web/20110205121111weblink">weblink February 5, 2011, yes, Bloomberg, and PlentyOfFish in 2015.Bootstrapped dating site PlentyOfFish has fewer than 100 employees and Match just bought it for $575 million in cash {{Webarchive|url=https://web.archive.org/web/20150716012212weblink|date=2015-07-16}}. Retrieved 14 July 2015. In June 2015, IAC announced its intent to pursue an IPO of Match Group,NEWS,weblink IAC/Interactive Plans an IPO for Its Matchmaking Business, Wells, Georgia, June 25, 2015, Wall Street Journal, October 7, 2015,weblink" title="web.archive.org/web/20151016160135weblink">weblink 2015-10-16, no, Alpert, Lukas I., yes, which officially filed documents for an initial public offering on October 16.NEWS,weblink Match Group, Parent of Tinder, Files for IPO, Wells, Georgia, October 16, 2015, Wall Street Journal, October 19, 2015,weblink" title="web.archive.org/web/20151018223841weblink">weblink 2015-10-18, no, Armental, Maria, yes, Shares of Match Group (MTCH) debuted on the Nasdaq on November 19, and finished that first day up 23% from the initial public offering price of $12.NEWS,weblink Tinder parent Match ends up 22% in trading debut, 19 November 2015, 8 December 2015,weblink" title="web.archive.org/web/20151210232901weblink">weblink 2015-12-10, no, CNBC,

IAC Publishing

On December 9, 2015, IAC announced the creation of IAC Publishing, a unit that combined The Daily Beast, About.com,WEB,weblink Ask.com Parent To Buy About.com For About $300M, NPR, August 27, 2012, Dictionary.com and Investopedia, which it had acquired in 2013,WEB,weblink ValueClick, Inc. Signs Definitive Agreement to Sell Owned & Operated Websites Segment - IAC, iac.com,weblink" title="web.archive.org/web/20180317011140weblink">weblink 2018-03-17, no, 7 March 2018, into a single operating group.IAC Places Next Bet on Digital Media {{Webarchive|url=https://web.archive.org/web/20170709233259weblink|date=2017-07-09}}. Retrieved 8 Jan 2016. IN 2018, IAC sold Dictionary.com and Thesaurus.com to Rock Holdings.WEB, Reindl, J. C., Dan Gilbert just dipped into the online dictionary, thesaurus business, Detroit Free Press, 2019-08-06,weblink

ANGI Homeservices Inc.

On May 1, 2017, IAC announced it had entered into a definitive agreement with Angie's List to combine HomeAdvisor, a digital marketplace for maintenance and repair services, and Angie's List into a new publicly traded company, to be called ANGI Homeservices Inc.NEWS,weblink IAC Plans to Buy Angie’s List, Jamerson, Joshua, Wall Street Journal, May 3, 2017,weblink 2017-05-03, no,

Businesses

In January 2016, IAC categorized its businesses into distinct segments for the purposes of financial reporting. Those segments are labelled by the company as Match Group, Publishing, Applications, Video, and ANGI Homeservices Inc. Each business listed may have multiple brands connected to it.IAC Realigns Reporting Segments, Changes Ticker {{Webarchive|url=https://web.archive.org/web/20170710000143weblink|date=2017-07-10}}. Retrieved 25 Jan 2016. {{col-begin}}{{col-break}}

Match Group

{{col-break|gap=4em}}

Publishing

Applications

  • Apalon
  • Ask Applications
  • iTranslate
  • mHelpDesk
  • SlimWare
  • TelTech
{{col-break|gap=4em}}

Video

ANGI Homeservices Inc.

  • Angie's List
  • HomeAdvisorWEB,weblink ANGI : Summary for ANGI Homeservices Inc. - Yahoo Finance, finance.yahoo.com, 7 March 2018,weblink 2017-11-12, no,
  • Handy
  • CraftJack
  • HomeStars
  • Instapro
  • ImproveNet
  • MyBuilder
  • MyHammer
  • Travaux.com
  • Werkspot
{{col-end}}

See also

References

{{Reflist|30em}}

External links

  • {{Official website|www.iac.com}}
{{IAC}}{{Major Internet companies}}

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