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

Joey Levin speaks at the Bloomberg Deals virtual summit about the moves IAC is making and what he sees on the media landscape horizon.

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By Jackie Davalos and Katie Roof

June 8, 2021 at 5:50 PM UTC

This article is for subscribers only.

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.