IAC Launches Fellowship Program

NEW YORK, Dec. 11, 2019 /PRNewswire/ -- Today, IAC (NASDAQ: IAC) announced IAC Fellows, a new immersive education program designed to empower high-achieving students from underserved and under-resourced communities in New York City and beyond. The initiative provides participants with the resources, education, and experiences to excel not only in academics and career pursuits, but to build successful and satisfying lives. Core to the program are multiple paid internships that rotate across leading IAC companies—such as Vimeo and The Daily Beast—over the course of six consecutive years. Upon graduation from the program, should a Fellow take a full-time role at IAC or any of its brands, IAC will pay off all of their student debt.

"At the core of IAC is a belief that people will rise to greatness if given the right opportunity, and that's the animating principle of IAC Fellows," said Joey Levin, CEO of IAC. "We're going beyond the standard internship to invest in the rising stars who will shape the future."

IAC Fellows is defined by the following:

• Multi-year: High-achieving students as young as high school juniors can apply to join and remain in the program for up to six years;
• Multi-business: Each summer, Fellows rotate across multiple IAC businesses – such as Vimeo, Dotdash, HomeAdvisor, Angie's List and Bluecrew – to be exposed to different business models, roles and functions. All internships are competitively paid and an academic stipend is provided upon each completion;
• Mentorship: All Fellows have access to IAC executives and brand leaders who serve as mentors and coaches along the way;
• Beyond academics: Fellows enjoy unique experiences that offer both inspiration and creative freedom such as sailing trips on the Hudson River and backstage tours of Julliard;
• Investment: IAC is committed to nurturing Fellows' growth and motivating them to build their careers at IAC. IAC will pay off student loans for any Fellow who accepts a full-time job at an IAC company.

IAC Fellows is made possible through IAC's long-standing partnerships with leading organizations including Prep for Prep, GEM Consortium, LEDA, UNCF, SEO, CSforALL, and TEAK Fellowship. In its inaugural year, IAC Fellows was only available in New York City; however, in 2020, IAC Fellows will expand to new IAC locations including Los Angeles, Denver, Chicago, and Indianapolis.

"Through the Fellows program, IAC is developing the next generation of exceptional business and community leaders," said Kathryn Wylde, President and CEO, Partnership for New York City. "Their unique model embeds students into the IAC family, offering them the opportunity to gain work experience, benefit from mentorships, and have fun."

"The IAC Fellowship Program is an exemplary model for corporate-nonprofit partnership," said Beth Breger, Executive Director of LEDA. "IAC provided a transformative internship experience that was both nurturing and enlightening, offering new perspectives into career pathways and workplace dynamics. We look forward to having more LEDA Scholars participate in this amazing opportunity."

"We want these students to know someone is in their corner, rooting for them as they navigate their academic careers," said Suzanne Kennedy, Head of Philanthropy, IAC. "We're looking to break down barriers to mobility and be a true partner in unlocking Fellows' potential. This is a long game for us. We would be lucky to have any one of these kids choose to come work at IAC."

IAC Fellows is currently accepting applications through its community partners for 2020. For more information about the program and how to get involved please visit the IAC Fellows website at: https://www.iacfellows.org/

About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC over two decades ago have emerged 10 public companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC today operates Vimeo and Dotdash among many others, and also has majority ownership of both Match Group, which includes Tinder, Match, PlentyOfFish, Hinge and OkCupid, and ANGI Homeservices, which includes HomeAdvisor, Angie's List and Handy. The Company is headquartered in New York City and has business operations and satellite offices worldwide. Learn more at www.iac.com.

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Valerie Combs
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