Thursday, March 31, 2011
Exclusive: IAC Hatches Hatch Labs, A Technology Sandbox To Incubate Mobile Startups
IAC has made a business out of developing or acquiring mobile applications based on its popular properties. In fact, IAC's mobile apps, which include apps for Match.com, CityGrid, UrbanSpoon, and Dictionary.com, have seen over 40 million downloads as of end of the year 2010. Today, we've learned exclusively that IAC is furthering its mobile strategy by launching Hatch Labs, a technology sandbox devoted to incubating mobile startups and innovations. Hatch Labs is the brainchild of Dinesh Moorjani, who was formerly the SVP of IAC Mobile. At IAC, Moorjani started the mobile group in 2007 and helped lead all product strategy for mobile. During his time, Moorjani helped doubled mobile revenue annually for IAC. He tells us that for the past five years IAC has been acquiring mobile technologies and apps, but this can be an expensive endeavor. Moorjani and the company wanted to help incubate more innovation within IAC, particularly in the mobile sector and thus Hatch Labs was born.