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As IAC’s Focus Narrows, Diller Era Enters Twilight

Over more than two decades, Barry Diller has invested in everything from online travel to lending and search. But now, six years after spinning off most of those business into separate companies, the future of his flagship company IAC has narrowed to be almost entirely dependent on its online dating business, particularly Tinder.

Given that Mr. Diller recently turned 73, it’s hard to avoid a feeling that an era in Internet investing is nearing its end. Through IAC, under a variety of names dating back to the mid-1990s, Mr. Diller orchestrated a holding company style of investment that was unusual in tech, enjoying some big hits as well as a few misses in the process.

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Mr. Diller orchestrated a holding company style of investment that was unusual in tech, enjoying some big hits as well as a few misses in the process.