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Wednesday, July 01, 2020 9:37:30 PM
In the quarter century since Barry Diller took the helm of IAC—then a collection of television stations called Silver King Communications worth $250 million—the company has grown into 10 separate publicly-traded businesses, including Match Group. IAC and its progeny are collectively worth nearly $60 billion today.
The transaction allows a smaller, more nimble IAC to shape a new generation of category leaders—from both the seeds existing within IAC's portfolio and the pursuit of entirely new opportunities.
Match Group's combination of category leadership, growth, and cash flow is virtually unrivaled; as a standalone company Match Group now benefits from increased strategic flexibility, enhanced trading liquidity and the eligibility for index inclusion. With a market cap of $30 billion, Match Group is the largest business IAC has separated in its 25-year history. Since Match Group's initial public offering in 2015, the company has more than doubled subscribers and revenue. Match Group's flagship product, Tinder, is the highest grossing non-gaming app worldwide, with a global presence.
"This is just the largest transaction at the core of our strategy throughout these 25 years," said Barry Diller, Chairman and Senior Executive of IAC. "Be opportunistic, be balance sheet conservative, build up enterprises and when they deserve independence let them have it. Be a conglomerate and an anti-conglomerate, a business model that has been unique to us."
"Back to work again," said Joey Levin, CEO of IAC and Executive Chairman of Match Group, "this is the fun part."
Recent IAC News
- Reddit Rises 15% After First Quarterly Report, Upstart and Twilio Plunge Due to Weak Q2 Forecast, and More in Earnings • IH Market News • 05/08/2024 12:23:27 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 08:16:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:13:04 PM
- IAC Earnings Release and Letter to Shareholders Available on Company's Website • PR Newswire (US) • 05/07/2024 08:10:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:06:31 PM
- Dotdash Meredith Announces Strategic Partnership with OpenAI, Bringing Iconic Brands and Trusted Content to ChatGPT • PR Newswire (US) • 05/07/2024 01:08:00 PM
- IAC Set to Join S&P SmallCap 600 • PR Newswire (US) • 05/01/2024 10:45:00 PM
- Care.com Names Amit Goyal Chief Technology Officer • Business Wire • 05/01/2024 02:00:00 PM
- IAC TO ANNOUNCE Q1 2024 EARNINGS ON MAY 7th AND HOST EARNINGS CONFERENCE CALL ON MAY 8th • PR Newswire (US) • 04/16/2024 08:10:00 PM
- IAC Joins with Ben Sherwood and Joanna Coles in Strategic Partnership to Define The Daily Beast's Next Chapter • PR Newswire (US) • 04/15/2024 01:30:00 PM
- Care.com Report Reveals Workplace Common Ground: Care Benefits • Business Wire • 03/05/2024 02:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 09:03:48 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/13/2024 09:19:48 PM
- IAC Earnings Release and Letter to Shareholders Available on Company's Website • PR Newswire (US) • 02/13/2024 09:10:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:30:15 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:30:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/08/2024 09:30:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/08/2024 09:30:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/08/2024 09:30:10 PM
- IAC TO ANNOUNCE Q4 2023 EARNINGS ON FEBRUARY 13th AND HOST EARNINGS CONFERENCE CALL ON FEBRUARY 14th • PR Newswire (US) • 01/17/2024 09:10:00 PM
- Annual Care.com Report Reveals Rising Childcare Costs Deplete the Incomes and Savings of American Families • Business Wire • 01/17/2024 02:00:00 PM
- Robotexts Jump to 19 Billion As 2023 Winds Down, According to Robokiller Insights • PR Newswire (US) • 01/11/2024 02:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 09:08:38 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 12/14/2023 09:07:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/14/2023 09:05:32 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM