The Barry Diller-led internet firm InterActiveCorp (IAC) has acquired Tutor.com, an online platform which connects students with tutors, for a reported $40m, according to news provider New York Times.
Founded in 1998, Tutor.com raised funding in 1999 and 2000 from firms Garage.com, NorthStar Capital Partners, Princeton Review and children’s publisher Scholastic. It later secured $9.5m from Intel Capital, the corporate venturing unit of US-listed chip maker Intel, and venture debt from MMV Financial.
IAC is comprised of more than 150 brands and products. In August last year IAC acquired About.com, ConsumerSearch.com and CalorieCount.com for $300m, according to news provider Techcrunch. Other sites owned by IAC include Dictionary.com, Match.com, CollegeHumor and Ask.com.
George Cigale, founder and chief executive of Tutor.com, will remain as chief executive.
Cigale said: “We are on a mission to help every student take control of their own learning and achieve their academic and professional goals, and becoming an IAC company will help us reach that goal faster.”