IAC Restructures After The Match Group IPO

Following The Match Group’s IPO, IAC has just announced a new corporate structure and ticker symbol.

Barry Diller’s internet conglomerate will now trade under IAC, as it splits the company into five new segments.

These include The Match Group, which houses over 45 brands including Match, OkCupid, PlentyOfFish, Meetic, Twoo, OurTime, BlackPeopleMeet and FriendScout24.

The Match Group went public last November, with shares jumping 23% on its first day of trading.

IAC also said that The Match Group now has over 59m MAUs and 4.7m paid members.

Other segments include HomeAdvisor and Video, which has companies like DailyBurn, CollegeHumour and Vimeo.

The final two segments are Publishing, which operates brands like About.com, Dictionary.com, Investopedia and The Daily Beast, and Applications, which includes companies SlimWare and iOS developer Apalon.

The new CEO of IAC, Joey Levin, said:

“As we look ahead to the next great opportunities to come from IAC outside of the Match Group, we do so with substance and strength in four key areas, each within large addressable markets rife with opportunity.

“This year will see IAC focused on continuing its track record of accelerating growth in new markets, assembling strong companies, and backing the leaders who drive them.”

Levin’s new role as CEO was just one of many management changes made by IAC at the turn of 2016.

Longtime Barry Diller favourite Greg Blatt took over the position of Match Group CEO from Sam Yagan, with Mandy Ginsberg becoming the dating segment’s North American CEO and Alexandre Lubot taking the position of Match Group’s European CEO.

Find out more about the restructuring here.