Welcome to our dedicated page for IAC news (Ticker: IAC), a resource for investors and traders seeking the latest updates and insights on IAC stock.
IAC Inc. (NASDAQ: IAC) is a leading media and internet company headquartered in New York City. It encompasses over 150 brands and products, making it one of the largest online platforms globally. The company's diverse portfolio includes well-known names like Ask.com, About.com, Match.com, HomeAdvisor, and Vimeo, among others.
IAC operates across various segments such as search, applications, online dating, media, and e-commerce. Its family of websites attracts over two billion monthly visits, reaching users in more than 200 countries worldwide.
In recent years, IAC has focused on spinning off successful ventures; in the second quarter of 2020, it spun off Match Group, a prominent dating app provider, and in the second quarter of 2021, it spun off Vimeo, a video software provider.
IAC's revenue is diversified across several segments: Angi Inc. contributes 33%, Dotdash Meredith 39%, search 14%, and other emerging businesses 14%. Angi Inc. is well-known for home service solutions, while Dotdash Meredith is a major digital and print publisher in the U.S., featuring brands like PEOPLE, Better Homes & Gardens, and Investopedia.
One of the latest strategic moves by IAC includes a partnership with Ben Sherwood and Joanna Coles to revitalize The Daily Beast, aiming to make it an essential source of journalism. Additionally, Dotdash Meredith has entered a strategic partnership with OpenAI to integrate trusted content from DDM into ChatGPT, enhancing user experience and ad-targeting capabilities.
Financially, IAC continues to demonstrate disciplined opportunism, focusing on building category-leading businesses through curiosity and innovation. The company regularly updates its shareholders and the public through quarterly reports and conference calls, highlighting its commitment to transparency.
For more information and to view the full list of IAC's companies, please visit www.iac.com.
On November 5, 2020, Vimeo, a subsidiary of IAC, announced a $150 million equity investment from Thrive Capital and GIC, valuing the company at $2.75 billion. This funding aims to enhance R&D, sales, and international growth. Amid record demand, particularly from corporate clients, Vimeo has over 200 million users globally and 3,500 enterprise customers, including Amazon and Starbucks. CEO Anjali Sud highlighted the goal of simplifying video creation for businesses, as Vimeo reported a 44% year-over-year revenue increase in Q3.
In October 2020, RoboKiller reported a staggering 5.06 billion political text messages sent to Americans, marking an 85% increase from September and the highest monthly total on record. The data highlights a significant shift from phone calls as political campaigns increasingly rely on text messaging to engage voters and solicit donations. Major states receiving these messages include California, Florida, and Texas, which together accounted for 35% of the total. The rise in political texts reflects changing campaign strategies amidst the ongoing pandemic.
On October 27, 2020, Vimeo launched Vimeo Record, a free video messaging tool aimed at enhancing workplace collaboration for distributed teams. The platform allows users to record screen videos, share messages, and provide feedback efficiently. Following a surge in demand during the pandemic, Vimeo reports a 40-50% monthly revenue growth and a 500% increase in Vimeo Enterprise accounts. With over 200 million global members, Vimeo targets over 1 billion knowledge workers to leverage video communication. The tool is designed to replace lengthy emails and Zoom calls, offering a streamlined communication method.
RoboKiller's Political Insights Report reveals that over 2 billion political messages were sent to Americans in the past 30 days ahead of the Presidential Election. Republicans led with approximately 1.5 billion text messages, compared to Democrats' 615 million. Political robocalls fell to around 1 million for Republicans and just over 900,000 for Democrats. The rise of peer-to-peer texting has influenced this trend, effectively increasing voter turnout, particularly among younger voters. Political messaging is expected to continue until polls close on November 3rd.
Vimeo has announced a strategic partnership with GoDaddy, integrating Vimeo's video capabilities into GoDaddy's website builder and marketing tools. This collaboration allows GoDaddy users to upload and manage high-quality video content directly within their websites. Additionally, users can access Vimeo's full suite of video tools for advanced features like custom branding and analytics. The partnership highlights Vimeo's commitment to expanding its market reach and providing businesses with effective video solutions.
Care.com has appointed Megan Poonolly as the new Head of Safety, effective immediately. Poonolly, previously Senior Counsel for Safety at Uber, will lead Care.com's Safety Program, enhancing safety policies and product initiatives for users. CEO Tim Allen emphasized that safety is a top priority for the platform. Care.com mandates comprehensive background checks for caregivers and monitors user interactions for safety. Poonolly will report directly to General Counsel Melanie Goins, focusing on improving safety protocols in the online care industry.
IAC (NASDAQ: IAC) will announce its third quarter results after market close on November 5, 2020. CEO Joey Levin will release a shareholder letter that may contain forward-looking statements. A virtual conference call will take place on November 6, 2020, at 8:30 a.m. EST to discuss the results and answer questions. Investors can access the live audiocast and replay via the provided link. IAC, known for its portfolio of companies including Vimeo and Dotdash, is committed to ongoing innovation and financial discipline.
RoboKiller reports a dramatic rise in political text messages this election season, with Americans receiving 2.6 billion texts in September 2020, a 400% increase since June. The trend shows a shift from political robocalls, which dropped from 93 million in August to 70 million in September. Republicans have sent 6x more political texts than Democrats. RoboKiller forecasts an additional 3 billion political messages before the elections on November 3rd. The app aims to help users manage these unwanted communications effectively.
IAC has released its monthly metrics for September 2020, available on its investor relations website. The company is characterized by a philosophy of financially-disciplined opportunism, focusing on inventing or acquiring new products and brands. Over the last two decades, IAC has evolved into 10 public companies, including Vimeo, Dotdash, and Care.com, while maintaining a majority ownership in ANGI Homeservices, which includes HomeAdvisor, Angie's List, and Handy.
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