Business Overview and Segments
IAC is a conglomerate, meaning it owns a whole host of companies within it. The main theme with IAC is that they like building online marketplaces which connect buyers and sellers – like an Uber or AirBnb. They own;
- ANGI Home Services (Home Advisor) – the biggest online marketplace that connects people with tradespeople who provide home maintenance and minor construction jobs (like building a deck). They’re like the Uber of home maintenance jobs.
- Care.com – the biggest online marketplace that connects the elderly with carers who provide in-home support services.
- Turo – the biggest online marketplace in the car-sharing economy whereby a car-owner who isn’t using their car can rent it out to someone needing a car rental.
- Blue Crew – the biggest online marketplace connecting employers who need staff, with unskilled workers for jobs like; hospitality, retail, cleaning, driving, etc.
- NurseFly – the biggest online marketplace connecting hospitals with nurses, as many hospitals in the US have a shortage of available nurses.
They also own some other things, including;
- Vimeo – online video production.
- DotDash – multiple online publishing websites (Investopaedia, TripSavvy, VeryWell, Simply Recipes).
- Various Software Apps – free online software for various purposes.
- MGM Resorts – they own 12% of this company which is publicly-traded and one of the largest casino and resort operators in Las Vegas.
Network Effects – most of their brands are online marketplaces which connect buyers and sellers. The more buyers on the platform will attract more sellers who want the biggest potential customer base, and this in turn will attract more buyers who are seeking the biggest variety of options to choose from. This produces a positive feedback loop which leads to astounding growth.
Key Facts and Figures
| Current Price | Cheap |
| Current Free Cash Flow Multiple of Stock | NA |
| Risk of Bankruptcy | Low |
| Last Year’s Growth | 7% (Moderate) |
| ROIC (Company Quality) | NA |
| Free Cash Flow Margin (Company Strength) | NA |