IAC, the corporate umbrella in the process of spinning Tinder’s owner Match Group, is planning to expand another mobile app division once the move is completed.
Mosaic is an IAC-owned group of 40+ non-gaming apps that currently average 4 million paying subscribers in total. Among its most popular brands are spam blocker Robokiller and communications tool iTranslate.
According to Axios sources, the group is now targeting $200 million in revenues. Mosaic’s website currently claims 200 million annual downloads, 40 million monthly active users and $123 million in revenues.
A key strategy going forward will be to acquire or develop apps in emerging categories like mental health. The division’s online copy reads: “Mosaic Group is a collection of leading mobile brands that inspire you to live your best life.
“(…) We build and acquire best-in-class brands, providing creators with the platform and expertise to rapidly scale products – along with the inspiration, support and resources to innovate new ones.”
IAC’s plan, Axios says, is to develop and then spin Mosaic in much the same way as it has with its dating company.
Match Group is set to take on some of IAC’s debt as part of the separation deal, a stipulation which is causing some uncertainty as the exact figure hasn’t been disclosed.
Rival dating company MagicLab is set to operate under the American multinational Blackstone Group following a multi-billion dollar acquisition announced this month.
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