IAC CEO Levin Says There's No Formula for Spinoffs

The transcript discusses the valuation of a company, highlighting that some assets are valued at a negative billion dollars. The CEO addresses concerns about this valuation, explaining the reasons for asset discounting and emphasizing the company's strong capital allocation and market performance. The discussion also covers the considerations for spinning off businesses, noting that decisions are based on optimizing value for both the subsidiary and the remaining company.

What is the current valuation of IAC's assets excluding cash?

• A positive billion dollars

• Zero

• A negative billion dollars

• Two billion dollars

Which of the following is NOT a reason for the market discounting collections of assets?

• High tax efficiency

• Lack of direct access to businesses

• Potential cash mismanagement

• Uncertain market performance

What does the CEO believe is crucial for changing market perceptions?

• Increasing revenue

• Effective storytelling and execution

• Reducing tax efficiency

• Expanding into new markets

What is the CEO's stance on spinning off subsidiaries like Match and Angi Homeservices?

• Spin-offs are done annually

• Spin-offs are avoided at all costs

• There is a strict formula for spin-offs

• Spin-offs are based on a confluence of events

What is NOT a factor in deciding whether to spin off a subsidiary?

• The best interest of the company

• The age of the subsidiary

• The subsidiary's revenue

• The market value of the subsidiary