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November 27, 2006

Barry Diller: All Net Cos are Overvalued ... Except Expedia, Of Course

IAC Corp CEO Barry Diller thinks all Internet companies are overvalued:

"We don't see anything big to buy. We think that prices right now for most things Internet ... are very overpriced at various stages from early capitalization to venture capital stage."

But how about his own Expedia division? It's online, isn't it? Surely there must be private equity people sniffing around looking to buy that. Of course there are, but Barry doesn't think they're offering enough:

"People have come and made their arguments to us. I can't tell you we wouldn't do it on either IAC or Expedia. I doubt we would. I can't say 'no', because I don't know for sure. I've not yet met the compelling case why that makes sense for a company like ours."

As an aside, here is audio of Barry Diller explaining why he's not lazy as the "loony" New York Times recently said, and why being paid a half-billion isn't such a big deal.

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