Deals
IAC’s HomeAdvisor Uses Online Dating Playbook for Global Growth
- Newest acquisition is HomeStars, largest Canada database
- Company has spent $100 million on global home services deals
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IAC/InterActiveCorp has bought Canada-based HomeStars, its second acquisition in the past four months of an online home services company based outside the U.S.
The deal is part of IAC’s plan to add sales and expand internationally at the fastest possible pace in its business of websites that connect homeowners with contractors such as plumbers and electricians. While the company declined to disclose the transaction price, it said it has spent about $100 million on four overseas deals, including HomeStars, in the past nine years. Toronto-based HomeStars is the biggest Canadian company in the market, with a database of 2 million home service providers, IAC said. The established user base is key, said Chief Executive Officer Joey Levin.