IAC is forming a new venture unit based in San Francisco that will be headed by Jim Safka as CEO. The new unit doesn’t have a name or an announced funding level. The mission: identify new business opportunities from start-ups to existing entities in various stages of development; actively seed and incubate new concepts; leverage IAC’s strength for launch. Release. Not in the published details — he’ll be reporting to Victor Kaufman, vice chairman of IAC; Kaufman’s responsibilities include strategic planning.
Safka moves from Match.com, where he was CEO for nearly three years. Prior to that, he was VP and GM of e-commerce for AT&T Wireless; he was at eTrade before that. He is succeeded at Match.com by Thomas Enraght-Moony, promoted from COO. Release.
This is the latest in a series of announcements from IAC — the personal finance portal JV with Dow Jones, the Black online destination — all with CEOs, none with names yet, all aimed at expanding the company’s mission in some way. Given the broad interests of IAC, investments could crop up in a variety of areas.