New York, N.Y. - IAC/InterActive Corp., the New York-based conglomerate of Internet media and e-commerce businesses, is opening a venture capital investment arm in Silicon Valley, according to a report in the San Jose Mercury News.

"We're interested in things that will complement IAC's portfolio," Jim Safka, CEO of Match.com, one of IAC/InterActive's portfolio companies, told the newspaper.

Safka is moving from Dallas to San Francisco to head up the operation, the report said.

Other companies in the IAC/InterActive portfolio include LendingTree, Ask.com and Ticketmaster, among others.

Related Links:
http://www.mercurynews.com/business/ci_6051213

http://www.iac.com