IAC Asks For More Google, Please
According to the release, the agreement, through which Google provides IAC’s search products and network partners with sponsored listings and other search-related services, is comparable to the previous agreement.
CEO of IAC, Greg Blatt, said in a statement that its search business has grown from $58 million in Operating Income Before Amortization in 2006 to $125 million in 2010, and generated pre-tax free cash flow(i in excess of $500 million over that period.
Handing over search advertising and technology to Google has been a good bet for the company. Google has actually been contributing to a portion of IAC’s Ask.com’s search results and last Fall, IAC announced that it would be completely outsourcing Ask’s search (although it’s unclear to which company, it could be Google).