This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

IAC CFO: We Might Sell Ask.com in Pieces

Stocks in this article: IACI

NEW YORK ( TheStreet) -- Internet company IAC (IACI - Get Report) would consider selling a piece of its Ask.com business, although it's not yet prepping the question-and-answer service for a sale, Chief Financial Officer Tom McInerney said Monday at an investor conference.

It's unlikely that a cash buyer would want to acquire Ask.com as a whole, he added.

"If Google (GOOG) or Microsoft's (MSFT) Bing wanted to buy Ask.com , we would have done it already," McInerney said.

Ask.com is a "less material piece" of IAC's core business, he added.

Acquired by IAC in 2005 for $1.85 billion, Ask.com was forced to transition from a search-engine business to a Q&A service last month after conceding it could no longer compete with Google. The company also cut 130 engineering jobs and closed down its offices in New Jersey and China.

Google, the number one U.S. search market provider, holds a 66% share of the market, while Ask.com, ranked fourth, has less than 4%, according to Comscore.

Ask.com will face competition in the Q&A space from startups such as Quora, ChaCha and Facebook.

While IAC has struggled to grow its traditional search business, the company is focused on expanding its tool bar business. In the most recent quarter, IAC increased its active tool bars 55% to 97 million. The company places customized search tool bars on browsers and generates fees when the tool bars are used.

Last week, IAC CEO Barry Diller stepped down from the company, after buying out large shareholder Liberty Media (LPTCA). Liberty will receive $220 million for the stake, as well as IAC's Evite and Gifts.com businesses.

--Written by Olivia Oran in New York.



>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs