Interview: Is IAC Undervalued? With Ramneek Kundra (Ticker: IAC)
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Show Notes
This week on the podcast we brought on Ramneek Kundra, an investor from India. We discussed IAC, a company Ramneek has followed for a long time. Here are some questions we asked him:
History of IAC: How did it get to where it is today?
Generally, what are your thoughts on the spin-off strategy? Do you like that flexibility as a shareholder?
Dotdash Meredith’s pro forma revenue is down around 15% - 20% this year. How can this reverse? What sort of margins can this business have once things normalize?
How do you value Angi?
IAC owns ~35% of Turo. What sort of upside could this investment have if the company goes public?
The stake in MGM is now approximately half of IAC’s market cap. What do you think of this partnership?
Care.com has been touted as a big win for IAC over the last few years. Why was that? Do you think this success can continue?
Thoughts on the two new marketplaces (Bluecrew and Vivian Health) and how IAC has partnered with other investment firms to accelerate their growth?
A big part of the IAC investment is trusting management. What do you think of Levin and the team? Is a bear market a good thing for them?
Pre-mortem: How could an investment in IAC go poorly?
Disclosure: The author and podcast guests are not your financial advisors. Ryan Henderson and Brett Schafer are general partners and portfolio managers at Arch Capital. Clients of Arch Capital may hold securities discussed on this show.