Diller & IAC In China: You Bet Your Ask (IACI, BIDU)
Despite a pending break-up in the media conglomerate, IAC/Interactive (NASDAQ:IACI) is spending up to $100 million to launch a new Internet company…. In China. IAC is planning bring its Ask.com to the Chinese market, although reports put this as a…
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Despite a pending break-up in the media conglomerate, IAC/Interactive (NASDAQ:IACI) is spending up to $100 million to launch a new Internet company…. In China. IAC is planning bring its Ask.com to the Chinese market, although reports put this as a search and advertising company rather than as a transaction-based company.
The new Internet company could launch within a year and its Ask.com could be available within two years. With the valuations that Baidu.com (NASDAQ:BIDU) and others have seen, this can’t be that big of a surprise despite the pending break-up of the online and media conglomerate. Baidu.com trades at more than 25-times 2008 projected revenues, while IAC trades around 1.15-times 2008 projected revenues. It’s a wonder with numbers like this that everyone hasn’t followed Nixon to China.
IAC/Interactive is under review for our Special Situation Investing Newsletter that covers buyouts, break-ups, spin-offs, reorganization, restructuring, and more.
Jon C. Ogg
November 23, 20
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