InterActiveCorp Embraces Enterprise Social Networking with Acquisition
Barry Diller's Internet company buys startup ZeroDegrees, adding a business-oriented networking service to its stable of consumer properties with a social networking bent.In another sign of the growing interest in enterprise social networking, Barry Dillers InterActiveCorp on Monday acquired startup ZeroDegrees Inc. as it expands its scope of community-oriented Web sites. Six-month-old ZeroDegrees, of Santa Monica, Calif., offers an online network targeted to businesspeople who want to connect with friends and associates for sales leads, recruiting and business development. Its network went into final beta in December. Terms of the acquisition were not disclosed. ZeroDegrees initially has focused on signing up individual business users, rather than entire enterprises, who then can control their connections and what information to share, said ZeroDegrees founder and President Jas Dhillon. The company also plans to enter a production release and develop add-on applications later this year.
"We are very excited about being part of the IAC family because of its strategic depth and marketing expertise," said Dhillon, who will remain with the company. "It will only add to our ability to accelerate the expansion of the network."