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Mindspark Interactive Network Acquires Majority Stake in DailyBurn™

Thursday, May 20, 2010 - 02:15

WHITE PLAINS, N.Y., May 20 /PRNewswire/ -- Mindspark Interactive Network, Inc. ("Mindspark"), an operating business of IAC (Nasdaq: IACI), today announced that it has acquired a majority stake in DailyBurn.com, one of the Web's fastest growing diet and fitness tracking sites and creator of the wildly popular DailyBurn FoodScanner application for the iPhone™.  DailyBurn.com is home to a powerful set of interactive diet and fitness tools dedicated to helping people in their quest to lose weight, build body strength and achieve a healthy lifestyle. The alliance with DailyBurn marks Mindspark's entry into the health and fitness category with an innovative and compelling new product, and will complement Mindspark's deep bench of  top social and interactive properties including Zwinky™, the Web's #1 teen community site*; MyFunCards™, the most visited e-card site on the Web; and Webfetti™, the hottest destination for online self-expression. Terms of the deal have not been disclosed.

"The team at DailyBurn is building fantastic products with a rapidly growing audience in the health and fitness category," said Joey Levin, CEO, Mindspark. "We're thrilled to add DailyBurn to our suite of interactive brands and use our resources to build on their momentum in a large and attractive market." 

Launched in 2007, DailyBurn has grown to nearly 500,000 members. DailyBurn offers free, "Pro", and "Elite" memberships.  Members can access a range of enhanced fitness experiences including customized exercise plans created by fitness professionals, advanced nutrition tracking, and a detailed meal planner to keep positive eating habits on track. DailyBurn's FoodScanner application for the iPhone™ is the first and most popular app to allow consumers to use the iPhone™ camera to scan UPC barcodes and quickly track how many calories are consumed throughout the day. The FoodScanner database includes 332,000 foods and continues to grow.

"Becoming part of the Mindspark suite of products was a natural fit for us. The company's strength in delivering products to a wide Internet audience will be a great asset for the brand," said Andy Smith, CEO of DailyBurn. "We're excited to leverage what Mindspark does so well to help DailyBurn reach everyone out there looking to lead a healthy life."

*According to comScore February 2010.

About Mindspark Interactive Network, Inc.

Mindspark, a division of IAC (Nasdaq: IACI), is home to some of the most popular and engaging brands on the Web.  Mindspark  features social and entertainment destinations including Zwinky®, IWON®, Excite®, Retrogamer™, Kazulah™, and GirlSense®, and fun and interactive products that enable users to creatively express themselves online including Webfetti™, My Fun Cards™, SmileyCentral®, Smiley Creator™, MyWebFace™, Cursor Mania™, and Popular Screensavers™.

About IAC

IAC operates more than 50 leading and diversified Internet businesses across 30 countries... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at http://iac.com/.

About DailyBurn.com

DailyBurn (dailyburn.com) is the premier fitness social network for detailed tracking, online accountability and motivation. DailyBurn motivates both health seekers and fitness enthusiasts to achieve better fitness results in less time. DailyBurn, which initially launched in 2007, was incubated by TechStars (techstars.org) and BizTech (biztech.org). 

SOURCE Mindspark Interactive Network, Inc.

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