Barry Diller’s IAC has produced a long string of success stories, in large part because of patient, strategic capital allocation. The company has built a powerful niche for itself in taking offline businesses into the digital marketplace. Its successful spinoffs include online travel stalwart Expedia (EXPE) in 2005, ticketing behemoth Ticketmaster in 2008, and online dating pioneer Match Group (MTCH + 0.06%) in 2020. Last month IAC spun off Vimeo and is now embarking on its next phase where businesses such as Care.com and their investment in car sharing company Turo will hopefully capture investor’s attention now that they are out of the shadow of Vimeo.
On The World According to Boyar podcast, IAC’s CEO Joey Levin traces his investment approach back to Diller’s strategy to “always think bigger.”