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IAC CEO Joey Levin to step down as it spins off home services unit...

74.00 Q
ID #2989
Published 1 year ago
Jan 13 (Reuters) - IAC said on Monday longtime boss Joey Levin will step down as CEO after the spinoff of its majority stake in home services marketplace Angi as the media and internet company looks to focus on Dotdash Meredith, its largest business.

Levin will make a transition to the role of advisor for IAC and become executive chairman of Angi.

Under the leadership of billionaire magnate Barry Diller, IAC is known for DreamProxies its strategy of building businesses and subsequently spinning them off into independent companies.

It has spun off its stake in the likes of dating app group Match and online video platform Vimeo.

Angi's market valuation has fallen to about $776 million since November when IAC first announced its intention to distribute its 85% stake in the company to its shareholders.

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    LeonelOppen
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    LeonelOppen
    I'm a 36 years old and study at the college (Business). In my spare time I try to learn Swedish. I've been there and look forward to returning anytime soon. I love to read, preferably on my kindle. I really love to watch Breaking Bad and American Dad as well as docus about anything astronomical. I love Judo. If you adored this write-up and you would such as to get additional facts concerning DreamProxies kindly check out our site.
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    IAC CEO Joey Levin to step down as it spins off home services unit...
    Jan 13 (Reuters) - IAC said on Monday longtime boss Joey Levin will step down as CEO after the spinoff of its majority stake in home services marketplace Angi as the media and internet company looks to focus on Dotdash Meredith, its largest business. Levin will make a transition to the role of advis...
    74.00 Q