|Traded as||NASDAQ: IACI|
New York City, U.S.
|Key people||Barry Diller
(Chairman and Senior Executive)
|Revenue||$3.02 billion as of 2013|
|Operating income||$ 426.2 million as of 2013|
|Net income||$ 285.8 million as of 2013|
|Total assets||$ 4.23 billion as of 2013|
|Total equity||$ 1.73 billion as of 2013|
|Employees||4,000 as of January 2014|
IAC/InterActiveCorp (also known as IAC) is an American internet company with over 50 brands across 40 countries headquartered in New York City. The Chairman and Senior Executive is Barry Diller, who was previously head of Paramount Pictures, Fox Broadcasting, and USA Broadcasting.
IAC was incorporated in 1986 under the name Silver King Broadcasting Company, as a subsidiary of the Home Shopping Network. In 1992, Silver King was spun-off to Home Shopping Network shareholders as a separately traded public company.
The company was originally named HSN, Inc. Its name was changed to USA Networks, Inc. in February 1998; to USA Interactive in May 2002; to InterActiveCorp in June 2003; and finally to IAC/InterActiveCorp in July 2004.
In October 2003, Transat A.T. Inc. entered into an agreement to sell its French subsidiary Anyway.com (www.anyway.com) to IAC/InterActiveCorp, for an enterprise value of €53 million (approximately CAD$81.6 million, $62.7 million USD).
In April 2011, IAC extended the deal with Google to hand over all search advertising on Ask.com and other IAC search products to the search giant, which was worth $3.5 billion in 2007, to end on March 31, 2016.
On February 14, 2012, Barry Diller introduced Aereo, an Internet television service. In March 2012 in New York City, Aereo will stream all of the broadcast networks to smartphones, tablets and televisions with Internet capability. On June 25, 2014, in a 6-3 Opinion, the U.S. Supreme Court ruled against Aereo. The Court found that Aereo infringed upon the rights of copyright holders.
On December 22, 2013, IAC fired their Director of Corporate Communications, Justine Sacco. She became a source of controversy for a tweet linking Africa and AIDS to a racial association that was widely taken to be racist although she quickly asserted it to be a joke in the tweet. An IAC spokesperson said the "outrageous, offensive comment" did not reflect the company's "views and values". The tweet went 'viral', being re-tweeted and scorned around the world, and swiftly, she was fired for the tweet. Following her dismissal, Sacco issued an unconditional apology through The Star, a South African newspaper.
The incident has since become a byword both for the need for people, especially professionals, to be cautious about what they post on social media, and for a justified action to immediately end a racist practice.
- CityGrid Media
- Mindspark Interactive Network
- People Media
- The Daily Beast
- The Princeton Review
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- Big News Today: Ask.com Acquires Ask.fm
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