IAC: Which Emerging Businesses Will It Sell or Close?
In the Q3 earnings call, Barry Diller dropped multiple hints about closing down or selling some of what IAC (NSDQ: IACI) calls its “emerging businesses”. And he said that it would happen within the next month. On the call: “No businesses in the emerging sectors are carrying any big investments. It is an area we not going to emphasize in the future: we think that is a bit defocusing.”. We don’t think emerging businesses are the tomorrow of our business. Some of the things within our emerging businesses: we will sell off and shut down, and we will do that next month.”
The emerging unit is heavily skewed towards its digital media companies, some bought and some incubated within the company. This also includes its IAC Programming unit headed by Michael Jackson, and where MTVN (NYSE: VIA) vet Nicholas Lehman joined as COO last year. Tina Brown’s newly launched DailyBeast site is part of the programming unit.
Which ones will be shut down and which ones will be sold? Any guesses or tips? In the comment box below tell us what you think, or send through the anonymous tip box in the left column (RSS readers will have to click through).
Full list of emerging businesses after the jump...
Emerging Business Unit:
Pronto.com
Gifts.com
CollegeHumor
Busted Tees
Very Short List
Vimeo
ConnectedVentures.com (CV)
23/6
Primal Ventures
GarageGames
FiLife.com
Life123.com
Instantaction.com
RushmoreDrive.com
TheDailyBeast.com
ReserveAmerica
Bagsbuy.com
Shoebuy.com
Green.com
Details on each of them here.
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Comments (3)
Nov 5, 2008 10:33 PM
So…?
Nov 14, 2008 12:39 PM
My guess is that VSL, Primal Ventures, FiLife, Life123, Rushmore Drive, Green.com and 236.com will all either be sold or shut down.
Feb 4, 2009 9:50 AM
I never understood the emerging businesses approach anyway because they all seemed to be content businesses (except Rushmore Drive), which was contrary to IAC’s stated focus on search and local. I agree with Jonathan Marcus except I think Rushmore Drive will make it. Remember Diller’s still pushing vertical search (NASCAR is a new Ask vertical). Plus, its Black History Month and IAC would be crazy to piss of that community by closing a business that’s been open less than a year and by my quick look at its traffic is showing promise. Just my two cents . . . The rest of the stuff should all be closed or sold.