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Search Parent Co. IAC Posts 7% Growth for Q2 2008

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IAC, the parent company of top-5 search engine, has posted a 7% year-over-year growth in revenue for the second quarter of 2008.

IAC is preparing for a transition, spinning off various assets into different companies.

"We are now right around the corner from the separation of IAC into five separate companies and the dissolution of the complexity surrounding the combined structure," said IAC's Chairman and CEO, Barry Diller. "Besides the detailed numbers contained throughout this release, focusing on consolidated results is only about the past, and I would think it far more productive for the future to analyze and judge the entities on their own merits ... as a large shareholder in each that is certainly what I intend to do."

Earlier this year, changed up their management and cut 8% of their workforce. IAC also announced a bunch of new niche sites that serve up a mix of search and social media.

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