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.
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