- According to Dennis Hong

Vimeo has been a big hit for Barry Diller’s IAC, but Dennis Hong, of $1.3 billion (assets) ShawSpring Partners, thinks the stock, which is up 94% in the last six months, has more room to run. Hong thinks Diller’s August 2020 purchase of 12% of gaming operator MGM for $1 billion lays the groundwork for a major online-gaming play. He also believes Diller’s asset trove contains businesses that will thrive postCovid, including online child-care network Care .com and ANGI Homeservic­es. Homebuyers who have fled to the suburbs will need ANGI’s handymen. Hong estimates that ANGI (worth $7 billion today) could reach a $50 billion valuation. With $2.9 billion in cash, IAC trades at a discount despite decades of spinning straw into gold.

 ??  ??

Newspapers in English

Newspapers from USA