Those looking for love on sites such as Match.com and OKCupid, which are owned by Internet and media company IAC, can visit another now- IAC-owned site to search for a French tutor after fudging on their online profiles that they’re fluent in French.
Today IAC announced that the company has acquired Tutor.com, the online service that matches professional tutors with students who need them, for an undisclosed amount (with estimations at just under $40 million). The site operates 24/7, so students who need late-night assistance on their algebra homework need not fret in the wee hours of the morning. Students and tutors work within an online classroom, and the site offers assistance in subjects such as math, science, English, social studies, SAT prep, and more within all grade levels.
Since Tutor.com’s inception in 1998, the website has paired almost 3,000 tutors with students. However, only 10 percent of the company’s business comes directly from parents and students — the rest of the business comes from contracts with institutions such as the U.S. Military, libraries, and universities, according to a New York Times article.
IAC, who considers Tutor.com to be “small,” plans on expanding the business by marketing directly to parents and improving the site’s interface. IAC will also apply the algorithms used on IAC’s Match.com and HomeAdvisor.com to match students with tutors.
“Tutor.com has done the hard part, having built over many years an incredible nationwide network of high quality tutors ready to help students improve their learning,” said Greg Blatt, CEO of IAC, in a statement taken from TechCrunch. “We think
it’s ripe for us to accelerate usage by bringing to bear our consumer Internet expertise in areas like product, marketing and distribution. It’s not often we find a company with such untapped potential that our particular skill set can help unlock, in an area that truly helps people improve their lives, all at a compelling valuation. Although it’s small, we’re excited about the acquisition.”