Search isn't working, so Diller tries another flooded market
As his search engine Ask.com inches toward irrelevance, besieged IAC CEO Barry Diller has found another crowded market to pour cash into: videogames. According to Variety, Diller plans to invest $50 million to $100 million of IAC's money on InstantAction, a new site from recently acquired IAC subsidiary GarageGames. GarageGames doesn't develop games quite so "casual" as the type Mark Pincus's Zynga produces, but the venture's product will still be Internet-based games made for those who don't want to waste time in front of a TV. Just like everyone else in the market, only a year or two later.