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Entertainment Media/Telecom

IAC Mulls Spinning Off Match Group, Angie’s List

IAC is considering spinning out Match Group, which includes the dating app Tinder, and Angi Homeservices, which includes Angie’s List and HomeAdvisor.

The news was disclosed by IAC, the conglomerate of tech and media brands owned by Barry Diller, in a letter to shareholders by IAC CEO Joey Levin, who cautioned that “we may ultimately choose to spin off both, one or neither.”

Both Match Group and Angi Homeservices are publicly traded subsidiaries of IAC with valuations of roughly $25 billion and $6 billion respectively. Thanks in large part to the success of Tinder’s business, the value of Match Group’s stock has more than doubled in the past year alone, while Angi’s marketplace business has struggled to find its footing. 

That IAC would potentially spin off Match Group or Angi Homeservices should come as no surprise given IAC’s long history of building up and then spinning out entities such as Ticketmaster and LendingTree. IAC recently added to its many bets with a $250 million investment in car sharing app Turo, and itself raised more than a billion dollars in debt to fund future acquisitions and investments. 

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