IAC (NASDAQ: IACI) today announced the company has completed the acquisition of Tutor.com, an online tutoring solution.
Terms of the deal were not disclosed.
“Founded in 1998, Tutor.com connects students anytime, anywhere with more than 2,500 screened and qualified tutors for immediate one-to-one sessions.
“Historically focused on core K-12 subjects, Tutor.com has more recently expanded into AP courses, test prep, college-level curriculum, and real-time writing help.”
“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.””We are on a mission to help every student take control of their own learning and achieve their academic and professional goals,” said George Cigale , founder and CEO of Tutor.com, “and becoming an IAC company will help us reach that goal faster. A high-quality education has never been more important and we think the combination of Tutor.com and IAC will make one-to-one learning accessible, affordable and sustainable for consumers and institutions.”
“Cigale will remain CEO and continue to run the business from Tutor.com’s offices in New York City.
While obviously a business not a domain purchase its another example of how the marriage between a category defining domain with a business can reap huge rewards.
PR Newswire (http://s.tt/1y3qP)
