Tag Archives: InterActiveCorp
IAC Reports A Profit Of $18.1 Million
IAC/InterActiveCorp (NASDAQ:IACI) has reported a first quarter profit of $18.1 million this quarter. They recently renewed a contract with Google Inc. (NASDAQ:GOOG) that estimated to be worth $5.5 billion over 5 years. Google provides IAC with search products and advertising services.
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Categories Ask.com, IAC, InterActiveCorp, Match.com, ServiceMagic
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Match.com Being Sued Because Woman Was Attacked After Date
Match.com is being sued by a woman in California since she was sexually assaulted after a date. Mark L. Webb filed the civil lawsuit against Match.com on behalf of the woman in the Los Angeles Superior Court. The lawsuit is demanding that Match.com screens members for potential sexual predators. Webb filed for a temporary injunction to prevent Match.com from allowing new members to join until the issue is fixed. The woman met the predator last year at Urth Cafe in West Hollywood. After the second date, the man followed the woman home and attacked her. Match.com is owned by InterActiveCorp (IAC). [The Huffington Post]
Categories IAC, InterActiveCorp, Mark L. Webb, Match.com, Urth Cafe
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IAC Extends Search and Ad Deal With Google Until 2016
IAC/InterActiveCorp (NASDAQ:IACI), the parent company of Ask.com, has made an amendment to an agreement made with Google Inc. (NASDAQ:GOOG). The original deal was made to last until 2012, but the amendment extended it to March 2016. Google provides IAC with search products and advertising such as sponsored listings. IAC cut 130 jobs at Ask.com recently. IAC is going to focus on its Q&A services and its toolbar business. [WSJ]
Categories IAC, InterActiveCorp
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Michael Eisner Joins Board of Directors at IAC
Michael Eisner, the former CEO of The Walt Disney Company (1984-2005), has joined the board of directors at IAC/InterActiveCorp (NASDAQ:IACI). IAC now has 13 board members. Before Disney, Eisner was the President of Paramount for 8 years. He also founded investment firm Tornante.
Categories IAC, InterActiveCorp, Michael Eisner
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Match.com Acquires Dating Website OkCupid For $50 Million
IAC/InterActiveCorp (NASDAQ:IACI) subsidiary Match.com has acquired OkCupid for $50 million in cash. This deal includes future earn-outs based on performance. OkCupid is free, but makes money from advertising. OkCupid has raised $6 million in funding and it was co-founded by Max Krohn, Sam Yagan, Chris Coyne, and Christian Rudder. OkCupid will continue to operate out of their offices in New York.
Categories IAC, InterActiveCorp, Match.com, OkCupid
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Barry Diller Buys Back IAC Stake From Liberty and Steps Down From CEO Spot
IAC/InterActiveCorp (NASDAQ:IACI) CEO Barry Diller is stepping down from the company. Liberty Media is also exchanging their equity stake in IAC for cash and assets in a deal that is worth $220 million. Liberty is exchanging 12.8 million IAC shares for all of the capital stock in an IAC subsidiary the runs the Evite and Gifts.com businesses.
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Categories Barry Diller, IAC, InterActiveCorp, Liberty Media
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Online Party Planning Website Punchbowl.com Acquires Rival Socializr
Online party planning company Punchbowl.com has acquired a rival called Socializr. Socializr was started by Friendster founder Jonathan Abrams. Both Socializr and Punchbowl.com compete against Evite.com, a party planning website owned by InterActiveCorp/IAC. The financial terms were undisclosed.
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Categories Evite, IAC, InterActiveCorp, Punchbowl, Socializr
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Newsweek and The Daily Beast Merge
Newsweek magazine is merging with The Daily Beast. The Daily Beast is an online news website that is owned by InterActiveCorp that is run by Tina Brown. The joint venture will be called the Newsweek Daily Beast Company. The Newsweek Daily Beast Company is owned equally by IAC and Sidney Harman (Newsweek owner).
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IAC Shutting Down Ask.com Search Operations, Focusing On Q&A Service
IAC/InterActiveCorp (NASDAQ:IACI) is shutting down the search operations for Ask.com. Ask.com was acquired by IAC for $1.85 billion in July 2005. About 130 engineering jobs will be cut and 20 engineers currently working in New Jersey will be asked to move to Oakland. With a 65% market share of all U.S. searches, Google is simply too big of a company to compete with.
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Categories Ask.com, Doug Leeds, IAC, InterActiveCorp
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Dictionary.com Launches API Development Center
Dictionary.com has released a new service called the API Development Center. Dictionary.com now has APIs available for the public at the Development Center to make apps and services work their website content. Dictionary.com’s APIs also include developer access to content on Thesaurus.com and Reference.com.
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Categories Dictionary.com, IAC, InterActiveCorp
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