When last we heard from Jason Rapp, back in February, IAC’s SVP of M&A was going to move on “new growth areas”. Since those areas weren’t defined, most folks figured the term was a bland euphemism for “out of Barry Diller’s company.” Turns out those folks are wrong: Jason is staying in the IAC fold, and will become CEO of Gifts.com; he replaces William Lynch, who is now EVP at IAC’s HSN.com. Release excerpts:
“Within 3 years of launch, Gifts.com has become the leader in its category. Under William’s leadership, the company has grown tremendously — from concept to start-up success,” said Rapp. “Now is the time to create sizeable and sustainable value and I look forward to working alongside the company’s outstanding team to do so.”
Mr. Lynch founded Gifts.com for IAC and served as its President & CEO since 2004. During this time, Gifts.com grew to become the most visited gifting site on the web, hosting over 14 million unique users during the 2007 holiday season. In 2006, Mr. Lynch added management of HSN.com to his responsibilities driving that business to double digit sales growth. In his new role at HSN overseeing marketing and content as well as HSN.com, Mr. Lynch will continue to focus on growing HSN’s online business while also managing all of HSN’s marketing and content efforts.
Mr. Rapp has been with IAC since 2006 identifying, recommending and executing corporate mergers, acquisitions, investments and divestitures for the company. Prior to joining IAC Mr. Rapp worked at The New York Times Company.
See Also: IAC M&A Chief Rapp Out
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