IAC’s Mindspark Buys Majority Stake In Fitness Site DailyBurn
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IAC’s Mindspark Interactive division has bought a majority stake in diet tracking site DailyBurn. The site, which bills itself as the “fastest-growing diet and fitness tracking site on the web,” lets users calculate how much they are eating via a food database and create exercise plans; visitors can also compete in “fitness challenges.” It claims roughly 500,000 members, up from 125,000 a year ago.
SEE ALSO: DailyBurn Raises $525,000 For Online Fitness Community
The acquisition is the first for Mindspark Interactive under Joey Levin, who was put in charge of the division in November. Mindspark’s other properties include virtual community Zwinky and fashion site GirlSense. IAC (NSDQ: IACI) says in a release that DailyBurn will “compliment its deep bench of top social and interactive properties.”
No financial terms were released, although the deal fits with IAC’s recent track record of making smaller investments; IAC’s CitySearch invested in search marketer OrangeSoda in March, while Match.com purchased dating site Singlesnet in February, which the company told us it acquired for “virtually nothing.”
DailyBurn had raised $525,000 in a seed round a year ago led by Founders Fund.
Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, IAC, dailyburn, mindspark
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