*By Conor White* At first glance, Match Group's acquisition of dating app Hinge, known as the "anti-Tinder," doesn't seem to make much sense, considering its properties already include OkCupid, Match, and of course, Tinder. But for parent company IAC, the more competition ー even internally ー the better. "We have always disrupted ourselves, and we like to disrupt ourselves," explained Joey Levin, CEO of IAC, which owns Match. "So when we see something that says it's the anti-something-we're-doing, if it's a good business, it's a good management team, it's a good story, it's a good product, that's something we're interested in doing. We like competing with ourselves." IAC and Match are also competing with Facebook. In May, Mark Zuckerberg announced the platform would introduce a dating feature, looking to take users away from apps like Tinder and OkCupid in the process. In an interview taped at the Allen & Co. Conference in Sun Valley, Idaho, Levin explained it's another challenge, but not an impossible one. "Brand and product are the two antidotes to competing with the giants. You have a product customers love, you can win ー you have a brand your customers believe in and trust, you can win." As for whether he prefers subscription-based or ad-supported businesses, Levin pointed to an example that's been around for quite a while. "I think both can be great businesses, both can be great revenue sources in the same business. Look at television ー it's a combination of subscription and ad revenue." Asked about the possibility of IAC acquiring Groupon, as has been rumored, Levin declined to comment, but he said he's happy to see all the wrangling for assets in the media space, whether it be for British broadcaster Sky or 21st Century Fox. "From my perspective, it's fun to watch," he said. "I like that they're trying to compete with Amazon, Netflix, Facebook Google. If these combinations give them a better shot...then I hope they succeed." "I'd like to see more competition among those companies and, however they can make it work, I'm cheering for them." For the full segment, [click here.](https://cheddar.com/videos/iac-ceo-joey-levin-talks-hinge-dating-app-acquisition)

Share:
More In Business
Tech leader who navigated the internet’s 90s crash weighs in on AI
Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology in artificial intelligence. Chambers is trying take some of the lessons he learned while riding a wave that turned Cisco into the world's most valuable company in 2000 before a crash hammered its stock price and apply them as an investor in AI startups. He recently discussed AI's promise and perils during an interview with The Associated Press.
Tesla sales jump after months of boycotts
Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk’s foray into right-wing politics avoided buying his company’s cars and even protested at some dealerships. Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year.
Load More