Text size Dreamstime There’s a fascinating story unfolding at IAC/InterActiveCorp, the internet holding company built by the one-time movie mogul Barry Diller. For many years now, the company has been following the same script. Incubate small online businesses, build them into bigger businesses, and eventually spin them out to the public market, in whole or in part. And then repeat. The list of IAC (ticker: IAC) alumni is long and growing: Match Group (MTCH), Expedia (EXPE), TripAdvisor (TRIP), LendingTree (TREE), Live Nation Entertainment (LYV), and others. The company still owns a majority of publicly traded ANGI Home Services (ANGI), and some day that one will be spun as well. Right now, though, the focus is on Vimeo, a provider of cloud-based video hosting and tools, which IAC will spin off by early in the second quarter or sooner. Earlier this week, IAC posted better-than-expected results for the fourth quarter, driven in part by Vimeo, which had revenue of $83.8 billion, up 54% from a year ago. There were other positive developments. The company is also sitting on a gain of about $700 million on a $1 billion investment in casino operator MGM Resorts International (MGM). IAC will likely book another…
Read More
IAC Stock Rally Continues. The Vimeo Show Picks Up More Fans.
