IAC Q2 Results: the Local Part

IAC reported Q2 results, which are very mixed but improved from Q1. Here are excerpts that pertain to local:

Picture 26

Citysearch [part of Media & Advertising] launched its new technology platform and announced the addition of Yellowpages.com and Superpages.com to its Citygrid partner network. IAC now has approximately 5.5 million local smartphone apps downloaded in total.

ServiceMagic revenue benefited from a growing and more active service provider network and 5% growth in service requests driven, in part, by increased marketing efforts. Revenue benefited further from contributions from the businesses now comprising ServiceMagic International (acquired October 29, 2008) and Market Hardware (acquired January 23, 2009). Profits were adversely impacted by an increase in marketing expense per service request as well as a shift in the mix of service requests from higher margin discretionary home repair and improvement requests to lower margin requests which was due primarily to the general economic slowdown. Profit declines also reflect higher operating expenses primarily associated with the expansion of the sales force and losses related to ServiceMagic International and Market Hardware.

Separately, yesterday, ServiceMagic announced a deal with magazine publisher Meredith:

The arrangement pairs the Meredith Women’s Network – a Top 5 online female network of Web sites including well-known, home-related properties inspired by the Better Homes and Gardens brand such as BHG.com, DIYadvice.com, Kitchenbathideas.com and Remodelingcenter.com – with ServiceMagic.com’s network of prescreened local service professionals. Meredith’s premium sites, which draw 16 million unique visitors each month, will now feature a fully-integrated, customized find-a-pro tool powered by ServiceMagic.com. The free tool will allow consumers using Meredith Web sites to link directly to ServiceMagic.com’s database of top-rated local professionals.


3 Responses to “IAC Q2 Results: the Local Part”

  1. Sokratis Says:

    ‘IAC now has approximately 5.5 million local smartphone apps downloaded in total.’ Interesting to see that they’re quoting this figure on their results. More interesting to see how many of those are due to urbanspoon.

  2. Greg Sterling Says:

    Yes I suspect that Urbanspoon is the bulk of that.

  3. Megan "hardware home improvement" Says:

    “Interesting to note that you mentioned this on their results. More interesting to see that many of those urban spoon

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