The company behind Expedia and Match.com is buying the child and adult care referral site, Care.com, for $500 million dollars,
Sheila Lirio Marcelo founded Care.com in 2007 after expressing frustration about the difficulty in finding child care as well as for her ailing father.
“Since our founding 13 years ago, we’ve delivered on our mission to help millions of people find affordable, high-quality care and caregivers find meaningful work,” Marcelo said in a statement.
Marcelo took her company public in 2014, becoming part of
“Family care is exciting new territory for us — and an accelerating market as demand for both child and senior care intensifies worldwide,” said IAC CEO Joey Levin in a statement. “The Care.com team has built a trusted brand and marketplace for families all over the world. We like marketplace businesses and this is one in a category we think has incredible potential.”
Tim Allen, an executive at IAC, will succeed Marcelo as chair and CEO.
AsAmNews has Asian America in its heart. We’re an all-volunteer effort of dedicated staff and interns. Check out our new Instagram account. Go to our Twitter feed and Facebook page for more content. Please consider interning, joining our staff or submitting a story.