IAC spins off Angi, is this a smart move?

In the United States, Barry Diller's IAC has confirmed the approval of a spinoff involving Angi, a prominent home improvement marketplace originally acquired by IAC in 2017. This development was announced on a Monday in January and is expected to finalize in the second quarter of the same year. Angi, which operates under a market capitalization of approximately $770 million, historically traces its origins to 1995 as Angie’s List, a company that went public in 2011. The spinoff will see IAC CEO Joey Levin transition to an advisory role while also becoming Angi's executive chairman, and Jeff Kip will assume the position of CEO at Angi. Levin has been noted for significantly enhancing IAC's value during his decade-long leadership.