IAC explores option to spin off Match, ANGI; beats quarterly revenue

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IAC explores option to spin off Match, ANGI; beats quarterly revenue
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IAC/InterActiveCorp said it was exploring the possibility of spinning off its st...

- IAC/InterActiveCorp said it was exploring the possibility of spinning off its stake in Tinder-parent Match Group and online homeservices provider ANGI Homeservices as it reported a better-than-expected quarterly revenue on Wednesday.

IAC, owned by television giant Barry Diller, has a history of building businesses and later splitting them into separate companies. Schiffman said in the event of the latest spin off, the company will shift focus to its video hosting platform Vimeo, content website Dotdash, on-demand staffing platform BlueCrew and its desktop applications segment.Strong sales in IAC’s dating and homeservices platforms led to a 12% rise in its second-quarter revenue to $1.19 billion, above analysts’ estimate of $1.18 billion, according to IBES data from Refinitiv.

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