Monday, June 04, 2007

San Jose Mercury: IAC to open VC firm, Prmail Ventures

"IAC/InterActive Corp., the New York-based media and e-commerce conglomerate run by former Hollywood mogul Barry Diller, already has pieced together an empire of dozens of Web properties, ranging from ticket seller to loan site LendingTree to the dating service
And it's just getting started.
That's the message it's sending to Silicon Valley, where IAC is opening a venture investing arm called Primal Ventures in the next couple of weeks.
'We're interested in things that will complement IAC's portfolio,' said former CEO Jim Safka, who is moving from Dallas to San Francisco to launch the operation. Its goal: to incubate some companies, roll up others and find promising start-ups that it can bring into its fold."

No comments: