Joey Levin, the CEO of IAC, has been talking to Cheddar about the variety of brands under his control.
IAC is the parent company of The Match Group (MTCH). Levin explained why Hinge is such a good fit for them, as well as covering the threat of Facebook Dating.
He was asked why MTCH purchased an app which was described as the ‘Anti-Tinder’, Tinder being its flagship product. Levin responded: “One of the things for IAC in general and for Match Group as well, is we have always disrupted ourselves. So when we see something that says it’s the anti-something that we’re doing, if it’s a good business – that’s something that we’re interested in doing.
“Tinder was created inside of Match to disrupt Match – and had a meaningful impact on the dating category.
“I think Hinge is a great product that seems to be getting real traction with a very interesting audience.”
The interview progressed with Levin being asked about how he would plan to compete with Facebook Dating. He flatteringly called Facebook a “giant” company.
“We’ve really been competing with the giants in all of our businesses, for all of our history. I think brand and product are the two antidotes to competing with giants.
“I feel pretty good about the way we deliver a product for our customers, and the way our brands resonate with our customers, and feel pretty comfortable with our ability to compete.”
When asked to comment on if IAC would let Tinder become its own company in the future, like they have done with successful businesses in the past, Levin was careful not to give too much away.
“We look at all of our businesses for opportunities like that – there isn’t really a right moment for any particular business, or a right formula for any particular business, when we would pull that trigger or evaluate that opportunity, but we’re constantly considering those kinds of opportunities.
Watch the full interview here.