Episode Summary:

In this episode, Jonathan Boyar welcomes Chris Halpin, Executive Vice President, Chief Operating Officer, and Chief Financial Officer of IAC—a holding company known for its savvy capital allocation and track record of building internet leaders like Expedia, Match Group, and Ticketmaster.

Chris brings a unique perspective shaped by senior roles at the NFL and Providence Equity before joining IAC. He and Jonathan explore how IAC is navigating today’s market, why the stock is significantly undervalued, and how the company is positioning key holdings like Dotdash Meredith, Turo, and Care.com for long-term success.

Whether you're an investor, media strategist, or just someone fascinated by the business of the internet, this episode offers a front-row seat to how IAC is building value in unconventional and often overlooked digital businesses.

Topics Discussed

Chris’s unique journey from private equity to the NFL to IAC
The transformation of Dotdash Meredith
The business case behind IAC’s OpenAI partnership
How IAC is thinking about Turo’s valuation, growth trajectory, and timing around a potential IPO
Margin structure and monetization strategy in digital media
IAC’s approach to valuation, capital allocation, and market mispricing
“Sacred cows” and how IAC avoids them
Lessons from working with media rights at the NFL
Why Chris thinks IAC is trading at a dramatic discount to fair value

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Biography:

Christopher Halpin is Executive Vice President, Chief Operating Officer and Chief Financial Officer of IAC. Mr. Halpin leads corporate finance, accounting, M&A, investor relations, and administration functions while also overseeing the day-to-day function and execution of IAC’s businesses.

Prior to his appointment at IAC, Mr. Halpin spent nearly a decade in leadership roles at the National Football League (NFL), most recently serving as Executive Vice President, Chief Strategy & Growth Officer. In this role Mr. Halpin oversaw strategic planning and data and analytics, as well as key growth areas, including managing the NFL’s international business and leading its legalized sports betting strategy. Other past leadership roles at the NFL include Senior Vice President, Consumer Products & Licensing, and Vice President of Media Strategy & Business Development.

Before joining the NFL in June 2013, Mr. Halpin was a Partner and Managing Director at Providence Equity Partners. During his 13 years at Providence, Mr. Halpin worked across the firm's investment activities in the Media & Entertainment, Wireless/Satellite and Business Services sectors, and also opened and served as Co-Head of the firm's Hong Kong office. Mr. Halpin started his career in the Merchant Banking Division of Goldman Sachs & Co.

Mr. Halpin is a graduate of Princeton University with an A.B. in Economics (Phi Beta Kappa, Magna Cum Laude), and is a board member of Turo, the Children's Scholarship Fund, the Ladies Profes

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