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Summary:

Joey Levin moves from corporate M&A and finance to CEO of Mindspark Interactive Network, the IAC collection of “fun web products” like Zwink…

Joey Levin, CEO, Mindspark
photo: IAC

Joey Levin moves from corporate M&A and finance to CEO of Mindspark Interactive Network, the IAC collection of “fun web products” like Zwinky, succeeding John Park, who wants a more entrepreneurial life after a decade with IAC (NSDQ: IACI). Levin was SVP for M&A and finance. On the M&A side, IAC vet Shana Fisher, currently SVP, M&A and strategy, now holds the whole portfolio. Mark Schneider, VP-financial planning & analysis, picks up Levin’s his finance duties and will report directly to CFO Tom McInerney. Release.

Mark Stein, SVP of corporate development, will keep that job but also becomes chief strategy officer of Mindspark to “help drive growth,” as IAC Chairman and CEO Barry Diller put it in a memo to staff (obtained by us and published below but first on BusinessInsider.com); he too has an M&A background. With Levin and Stein’s experience in M&A, it’s hard not to wonder if identifying “growth opportunities” means some acquisitions are on the way — or if IAC is looking at Mindspark as a possible spin-out candidate.

You may not know what Mindspark is but chances are you’ve come across one or more of its brands, which can either intrigue or annoy depending on how much you like cute, interactive icons, virtual worlds or casual games for money. The sites include virtual community Zwinky, cash/prize gaming site IWON, virtual fashion site GirlSense, video sharing site Vimeo, how-to site Life123 and my mom’s still favorite home page, Excite.com.

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Mindspark Business Update
From Barry Diller

I wanted to share some news regarding changes at Mindspark. John Park, who for more than 10 years has demonstrated a distinct blend of business acumen and creative entrepreneurialism overseeing Mindspark and the launch of brands like Zwinky, Webfetti and MyWebFace, has decided to move on from his role as CEO of Mindspark to further pursue his entrepreneurial spirit outside of IAC.

Joey Levin will assume the role of CEO of Mindspark. An IAC veteran, Joey has repeatedly shown his strength as a business leader at IAC, with senior roles managing IAC

  1. Diller does it again! He shuffles one of his less-than-talented corporate executives into a line role. Joey Levin has the management talent of a gnat. While he wasn't that great at M&A (which is undoubtedly why Diller gave M&A to Shanna Fisher, a real star), he is going to be a huge failure in a division that isn't much anyway. I guess that's the logic of it all: Levin will do less damage in the division than at corporate.

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