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IAC’s Incubator May Shift to Focus Heavily on Crypto

Amy Liu

Summary: Barry Diller’s IAC 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. IAC is “definitely looking” at ...

Barry Diller’s IAC 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.

IAC is “definitely looking” at potential acquisitions in cryptocurrency but high valuations in the overall market will probably make such deals unlikely, he said.

By Amy Liu

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