IAC/InterActiveCorp (NASDAQ:IACI) today announced that the company has acquired ZeroDegrees, an online business networking company. Terms of the deal were not disclosed.
The ZeroDegrees services simplify and accelerate the real-life process of connecting people with the contacts of their friends and associates using modern technology and old-fashioned discretion. Consumers are able to choose whether or not to participate at every level of contact. ZeroDegrees business-focused networking service was launched in August of 2003 and has experienced significant growth since launch.
Dan Marriott, Senior vice President of the IAC Interactive Development Group said, “the use of the Internet as a vital means for people to connect and communicate for almost every purpose is assured – much the same way that Internet search has become a staple of our daily lives. Our interests in this area of connecting people led us to Match.com and Evite early on in the life of the Internet. We believe that investing now in the next generation of these services, such as Zero Degrees – is a smart bet to place.
ZeroDegrees Founder and CEO Jas Dhillon said, Öur mission is to build the market leader in secure online business networking that connects business professionals with each other for opportunities, expertise and information. Joining IAC provides us with a fantastic opportunity to take advantage of IAC’s considerable strategic expertise and consumer reach and aggressively apply it to accelerate the expansion of the ZeroDegrees service.
IAC’s acquisition of ZeroDegrees’business focused service adds to the company’s highly successful match.com and Evite businesses which already connect consumers for a variety of personal and social reasons.
ZeroDegrees is the first commercially available service from IAC’s recently formed Interactive Development Group. The Interactive Development Group mandate is to explore a broad range of ideas for new online businesses and to commercially launch the very best of them. IAC’s Interactive Development Group will leverage IAC’s experience and track record of creating successful new Internet brands and business models.
About IAC/InterActiveCorp
IAC/InterActiveCorp (NASDAQ:IACI) is the world’s leading multi-brand interactive commerce company. IAC consists of IAC Travel, which includes Expedia, Inc., Hotels.com, Hotwire, Interval International, and TV Travel Shop; HSN; Ticketmaster, which oversees ReserveAmerica; Match.com Lending Tree; Precision Response Corporation; and IAC Local Services, which included Citysearch, Evite, and Entertainment Publications, Inc.
About ZeroDegrees
ZeroDegrees develops and markets advanced technology that brings people closer in ways that emulate natural social behavior. ZeroDegrees software technology enables individuals and organizations to harness the power of networks to achieve personal and business objectives. People in the ZeroDegrees network have explicitly agreed to be connected with each other, thus eliminating any possible misuse of the system or its connections. In addition, no email content is ever accessed or stored, differentiating it from other social networking systems. ZeroDegrees’privacy policy also ensures that user data will never be mined or used for commercial purposes without the user’s explicit permission.
