Good article over at the NY Times on IAC. How they’ve scooped up relatively smaller sites, compared to say YouTube or Facebook, specifically in the humor sector of the internet, sites like colleghumor.com and then a joint venture with The Huffington Post. From the article…
Mr. Diller said that although IAC could afford a big acquisition like the $1 billion said to be sought for Facebook, a social networking site, he was reluctant to do so. “Making very large bets on businesses that don’t yet have a business model is just not our history,†he said. “I’ll leave that to the media imperialists.â€
Instead, he and Mr. Jackson said they favored the economics of starting their own ventures and investing in nascent ones. “This is a medium where how much you spend has much less effect on the outcome than ever before,†Mr. Jackson said. “Some of the best content online has been created by amateurs for nothing.â€