IAC/InterActiveCorp : IAC June 2021 Investor Presentation
06/09/2021 | 04:12pm EDT
June 9, 2021
NON-GAAP FINANCIAL MEASURES
This presentation contains references to certain non-GAAP measures. These measures should be considered in conjunction with, but not as a substitute for, financial information presented in accordance with GAAP. The reconciliations between GAAP measures and non-GAAP measures are included in the Appendix to this presentation.
This presentation may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipates," "estimates," "expects," "plans" and "believes," among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to: IAC's future financial performance, business prospects and strategy, anticipated trends and prospects in the industries in which IAC's businesses operate and other similar matters. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: our ability to market our products and services in a successful and cost-effective manner, the display of links to websites offering our products and services in a prominent manner in search results, changes in our relationship with (or policies implemented by) Google, our continued ability to market, distribute and monetize our products and services through search engines, digital app stores and social media platforms, the failure or delay of the markets and industries in which our businesses operate to migrate online and the continued growth and acceptance of online products and services as effective alternatives to traditional products and services, our continued ability to develop and monetize versions of our products and services for mobile and other digital devices, our ability to establish and maintain relationships with quality and trustworthy service professionals and caregivers, the ability of Angi Inc. to successfully implement its brand initiative and expand Angi Services (its pre-priced offering), our ability to engage directly with users, subscribers, consumers, service professionals and caregivers on a timely basis, our ability to access, collect and use personal data about our users and subscribers, the ability of our Chairman and Senior Executive, certain members of his family and our Chief Executive Officer to exercise significant influence over the composition of our board of directors, matters subject to stockholder approval and our operations, our inability to freely access the cash of Angi Inc. and its subsidiaries, dilution with respect to our investment in Angi Inc., adverse economic events or trends (particularly those that adversely impact advertising spending levels and consumer confidence and spending behavior), either generally and/or in any of the markets in which our businesses operate, our ability to build, maintain and/or enhance our various brands, the impact of the COVID-19 outbreak on our businesses, our ability to protect our systems, technology and infrastructure from cyberattacks and to protect personal and confidential user information, the occurrence of data security breaches and/or fraud, increased liabilities and costs related to the processing, storage, use and disclosure of personal and confidential user information, the integrity, quality, efficiency and scalability of our systems, technology and infrastructure (and those of third parties with whom we do business), changes in key personnel and certain risks related to the Vimeo spin-off (some or all of the expected benefits from the Spin-off may not be achieved, increased vulnerability to changing market conditions as a smaller, less diversified company following the completion of the spin-off, the failure of the spin-off to qualify as a transaction generally tax-free for U.S. federal income tax purposes and decreases in the market price of IAC securities following the completion of the Spin-off for a variety of reasons, among other risks). Certain of these and other risks and uncertainties are discussed in IAC's filings with the Securities and Exchange Commission. Other unknown or unpredictable factors that could also adversely affect IAC's business, financial condition and results of operations may arise from time to time. In light of these risks and uncertainties, these forward looking statements may not prove to be accurate. Accordingly, you should not place undue reliance on these forward looking statements, which only reflect the views of IAC's management as of the date of this presentation. IAC does not undertake to update these forward-looking statements.
MARKET AND INDUSTRY DATA
We obtained the market and certain other data used in this presentation from our own research, surveys or studies conducted by third parties and industry or general publications, and other publicly available sources. We have not independently verified such data, and we do not make any representations as to the accuracy of such information.
IAC BUILDS COMPANIES
We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC over 25 years ago have emerged ten public companies and a generation of exceptional leaders. We will always evolve, but our basic principle of financially disciplined
opportunism will never change.
Started as Silver King in 1995 With a ~$250 Million Market Cap
with Angie's List
and CEO of
Now 10 Public Companies and Almost $100 Billion in Value Created for Our Shareholders
Note: Share prices throughout deck as of June 4, 2021
(1) In 2011, Expedia spun-off TripAdvisor
(2) In 2010, Ticketmaster merged with LiveNation, with TKTM shareholders receiving ~50% of the new entity
(3) In 2017, Liberty Interactive purchased HSNi and combined it with QVC Group, with HSNi shareholders receiving ~11% of the new entity, which later became Qurate Retail
(4) In 2018, Marriott Vacations Worldwide acquired ILG, with ILG shareholders receiving ~43% of the new entity
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