Kara Swisher

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Rapp Becomes CEO of Gifts.com

Jason Rapp, IAC’s SVP of mergers and acquisitions, will become CEO of Gifts.com, an IAC-created gifts recommendation engine.

Gifts.com President & CEO William Lynch, who founded the site for IAC (IACI), will transition to HSN full-time as its EVP of marketing and content. He had previously been managing the HSN.com site, while also running Gifts.com.


The site, which also offers gift cards that can be redeemed at over 100 merchants, is now a 40-person operation.

Rapp has been with IAC since 2006 and, prior to joining the company, worked at the New York Times Company.

After a contentious battle with large shareholder Liberty Media, IAC is in the midst of separating itself into five publicly traded companies, expected to be completed in the third quarter, spinning off HSN, Ticketmaster, Interval International and LendingTree.

Left in the new IAC will be: Ask.com, Bloglines, Citysearch, CursorMania, Evite, Excite, IAC Advertising Solutions, InsiderPages, iWon, My Fun Cards, My Way, Popular Screensavers, Smiley Central, Vimeo, Webfetti and Zwinky, Match.com, ServiceMagic, Shoebuy.com, Entertainment Publications, ReserveAmerica; Pronto, Gifts.com, Green.com, Primal Ventures, InstantAction, BustedTees, CollegeHumor, GarageGames, RushmoreDrive.com, Very Short List, and 23/6.

Also included will IAC’s current investments in Active.com, Brightcove, FiLife, MerchantCircle, OpenTable, Points.com and SHOP Channel.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work