Press release from PR Newswire
IAC Announces Management Changes at Its Match Segment
Tuesday, October 23, 2012
Sam Yagan to head IAC's Match segment
Mandy Ginsberg to head the segment's "Core" businesses
Josh Meyers to focus on new initiatives at IAC
NEW YORK, Oct. 23, 2012 /PRNewswire/ -- Today IAC (Nasdaq: IACI) announced that Sam Yagan, co-founder and CEO of OkCupid, has been named CEO of Match, Inc., making him responsible for IAC's Match segment, which comprises all of IAC's online dating and related operations, domestically and internationally. Mandy Ginsberg, President of Match.com, has been named CEO of Match.com, with responsibility for the segment's "Core" businesses: Match.com U.S., Chemistry.com and People Media. Josh Meyers, CEO of People Media, will leave the segment to focus on new initiatives at IAC, with the majority of his time initially spent on DailyBurn, IAC's subscription-based streaming fitness business.
"The Match segment has grown from what was essentially a domestic business with two brands in 2009 into the global leader it is today with 37 brands in more than 25 countries," said Greg Blatt, CEO of IAC. "This greater scale and complexity requires a single leader responsible for the growth and operations of the overall segment, as well as greater coordination across our brands. This streamlined operating structure, with our Core businesses consolidated under Mandy Ginsberg and the entire business, including Core, consolidated under Sam Yagan, takes full advantage of the assets and leadership talent we've assembled."
IAC's recent success in cross-border and cross-brand collaboration in connection with its Meetic acquisition demonstrates the power of a portfolio approach, and these changes to the operating structure will better maximize this potential.
"Sam's extensive category experience and sharp intellect make him the perfect person to oversee Match's overall growth," said Blatt. "Mandy has a keen brand sense and great operational acumen demonstrated by Match.com's performance over the last few years. I'm confident she'll continue to drive healthy growth in our Core businesses going forward."
After stewarding People Media through three years of rapid growth, Meyers will shift his focus to other parts of IAC, especially DailyBurn, which presents a significant growth opportunity for the company.
"Josh has done an amazing job at People Media, which is probably the highest returning acquisition we've made at IAC in a very long time, and I look forward to him bringing his leadership ability and general management expertise to other parts of IAC," said Blatt.
About IACIAC (NASDAQ: IACI) is a leading media and Internet company comprised of more than 150 brands and products, including Match.com, Ask.com, CollegeHumor, and CityGrid Media. Focused in the areas of Search, Match, Local and Media, IAC's family of websites is one of the largest in the world, with nearly a billion monthly visits across more than 30 countries. The company is headquartered in New York City with offices in various locations throughout the U.S. and internationally. To view a full list of the companies of IAC, please visit our website at IAC.com.
About Match IAC's Match segment is the global leader in online dating, redefining the way millions of people meet, date and start relationships every day. The segment consists of 37 brands in more than 25 countries, including Match.com, OkCupid, OurTime.com, Meetic and ParPerfeito, and manages an investment in Zhenai, a leading matchmaking company based in China. Each of the various subscription-based, ad-supported, and startup companies within this portfolio caters to the unique, individual preferences and personalities of users around the world. More than 1,000,000 people around the world join these sites every week. For more information please visit www.IAC.com.
Contact Information: IAC Corporate Communications Justine Sacco / firstname.lastname@example.org (212) 314-7326
IAC Investor RelationsNick Stoumpas / email@example.com (212) 314-7495