IAC acquired Angi in 2017, and it's been weighing a spinoff of the business for several years. The company postponed the effort in 2019 as it completed the spinoff of Match Group, which owns dating services including Tinder, Match and Hinge.

IAC has become known for incubating businesses and spinning them off into separate companies. It's done the same with Expedia, Ticketmaster and LendingTree, among others.