IAC completes acquisition of Tutor.com
IAC completes acquisition of online tutoring business for undisclosed price
NEW YORK (AP) -- Media and Internet company IAC/InterActiveCorp said Monday that it has completed its acquisition of online tutoring business Tutor.com.
Financial terms were not disclosed.
Tutor.com, founded in 1998, connects students with more than 2,500 tutors for immediate one-on-one sessions. The company provides tutoring services on traditional K-12 subjects, advanced placement courses, test preparation, college-level curriculum and real-time writing help.
George Cigale, founder and CEO of Tutor.com will remain CEO and continue to run the business from Tutor.com's offices in New York.
IAC, also based in New York, operates more than 150 online brands and products, including Match.com, Ask.com and CityGrid Media. Its shares fell $1.39 to $45.55 in midday trading on relatively low-volume trading. The stock has traded between $40.87 and $55.57 in the past 52 weeks.
