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IAC’s Incubator May Shift to Focus Heavily on Crypto

  • High valuations still make crypto acquisitions unlikely
  • Levin says he ‘isn’t a SPAC fan’ for future spinoffs
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Joey Levin speaks at the Bloomberg Deals virtual summit about the moves IAC is making and what he sees on the media landscape horizon.

Barry Diller’s IAC/InterActive Corp. is considering shifting its incubator platform Newco to focus “heavily” on cryptocurrency, said Chief Executive Officer Joey Levin.

“Practices that have existed for decades or centuries are just going to be more efficient when done on a blockchain,” Levin said, speaking Tuesday at the online Bloomberg Deals Summit.