IAC Spins Off Angie's List, Following the Footsteps of Expedia and Match Group
IAC spins off Angie's List into a separate, publicly traded company that also includes HomeAdvisor. The media giant has also spunoff its Tinder and Match business, along with Expedia in recent years.
IAC/InterActiveCorp (IAC) - Get Report is combining HomeAdvisor, with Angie's List, which it purchased for $500 million earlier this year, into one separate publicly traded company ANGI Homeservices (ANGI) - Get Report . Trading began Monday.
"Scale in this business wins," said Chris Terrill, CEO of ANGI HomeServices, adding that Angie's List and HomeAdvisor used to be rivals and have very similar business models making a combination all the more sensible.
Terrill confirmed layoffs occurred amid the spinoff.
IAC's move follows its 2005 spinoff of Expedia (EXPE) - Get Report and its 2016 separation of its Match and Tinder business into Match Group (MTCH) - Get Report .
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