IAC Announces Cost Cuts and Rebranding as People Inc. to Improve Valuation
IAC is rebranding as People Inc., aiming to streamline operations, reduce costs by over $40 million annually, and close the valuation gap between its stock price and intrinsic value. The company reported 8% growth in first-quarter digital revenue despite traffic declines on owned sites.
Topics: capital allocation cash flow strategy cost-cutting IAC rebrand to People Inc.