Investing
Diller & IAC In China: You Bet Your Ask (IACI, BIDU)
Published:
Last Updated:
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
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
