- IAC, the Internet media companies which owns such sites as OKCupid.com, Match.com and CollegeHumor, announced Monday that it has acquired Tutor.com, though the deal's details were not disclosed (though The New York Times reports that a source said the deal was for just under $40 million).
- Tutor.com has been around since 1998 and boasts more than 2,500 screened tutors for K-12, college prep and college-level subjects.
- The NYT also reports that IAC plans to integrate its matching algorithms used on other sites to improve services on Tutor.com.
From the press release:
"Tutor.com has done the hard part, having built over many years an incredible nationwide network of high quality tutors ready to help students improve their learning," said Greg Blatt, CEO of IAC. "We think it's ripe for us to accelerate usage by bringing to bear our consumer Internet expertise in areas like product, marketing and distribution. It's not often we find a company with such untapped potential that our particular skill set can help unlock, in an area that truly helps people improve their lives, all at a compelling valuation. Although it's small, we're excited about the acquisition."