IAC Appoints Joey Levin CEO of Mindspark Interactive Network

• Press Release
• Source: IAC
• On 3:30 pm EST, Monday November 9, 2009

NEW YORK, Nov. 9 /PRNewswire-FirstCall/ -- IAC (Nasdaq: IACI - News) announced today that Joey Levin, currently IAC's Senior Vice President, Mergers & Acquisitions and Finance, has been named Chief Executive Officer of Mindspark Interactive Network.

Mr. Levin succeeds John Park, the previous CEO of Mindspark who is leaving IAC for entrepreneurial endeavors after more than 10 years as an outstanding business leader and strategist for Mindspark and IAC. He will work with Mr. Levin and the Mindspark management team to ensure a smooth transition.

"Mindspark is a great business and has become a leader in its category under John's exceptional management," said Mr. Levin. "The Mindspark brands have shown tremendous success drawing in users and engaging audiences across the web. My goal together with the Mindspark team is to continue to build on and drive new opportunities for growth."

As CEO of Mindspark, Mr. Levin will have primary responsibility for the strategic and operational leadership of all of Mindspark's brands, which include Smiley Central, Webfetti, Zwinky, My Fun Cards, CursorMania, Popular Screensavers, Excite.com and iWon, which, together with IAC's toolbar distribution business, account for roughly 60 million active toolbars reaching more than 35 million unique users each month.

Mark Stein, current SVP of Corporate Development for IAC, will join Mr. Levin at Mindspark assuming the role of Chief Strategy Officer. He will work closely with the management team to develop Mindspark's strategy and identify growth opportunities. He will retain his corporate role at IAC as well. Shana Fisher, currently SVP, Mergers & Acquisitions and Strategy of IAC will assume Joey's M&A responsibilities in addition to her own. Current Vice President of IAC Financial Planning & Analysis Mark Schneider will assume Joey's finance responsibilities, reporting to EVP and CFO Tom McInerney.

About Joey Levin

Mr. Levin has been an executive at IAC for more than 6 years, working in strategic planning, finance, and M&A. As part of IAC Senior management for the last 2 years, Joey has had strategic oversight of many of IAC's businesses and has had a corporate oversight responsibility for Mindspark since mid-2009. He has worked on a number of transactions for IAC including the acquisitions of ServiceMagic and PeopleMedia, and the spin-offs completed in 2008. Prior to joining IAC, Mr. Levin worked in the Technology Mergers & Acquisitions group for Credit Suisse First Boston (now Credit Suisse) in San Francisco, where he advised public and private technology and e-commerce companies on a variety of transactions.

Joey also serves on the board of NASDAQ-listed Tree.com, and private venture-backed companies The Active Network and Merchant Circle. He previously served on the board of Points.com prior to the exit of IAC's 20% position in December 2008. Mr. Levin graduated from the Jerome Fisher Program in Management & Technology from the University of Pennsylvania, with a B.S. in Economics from the Wharton School, a B.A.S. in Engineering from the School of Engineering and Applied Sciences and a minor in Mathematics.

About John Park

John Park was named CEO of Mindspark Interactive Network in January 2008. Previously, John was Executive Vice President and General Manager of the Toolbars and Portals division and had served in various senior management roles in the company since joining in 1999. During his tenure, Park was responsible for the original development of iWon.com and MyWay.com, as well as the revamping of Excite.com following the 2001 acquisition of the brand from @Home. Under his leadership, the Fun Web Products Business has become one of the fastest growing businesses at IAC.

Prior to joining Mindspark (then known as Interactive Search Holdings (ISH)) in 1999, Mr. Park held senior product development and management roles at Ameritrade, Prodigy Services and New York Web. He earned a BS in Information Systems and Management from New York University.

About IAC

IAC operates more than 50 leading and diversified Internet businesses across 30 countries... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at www.iac.com.

    Contact Information:
    IAC Communications                     IAC Investor Relations
    Stacy Simpson / Leslie Cafferty        Lisa Jaffa
    (212) 314-7470 / 7326                  (212) 314-7400

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