Media company Interactive Corp. (IAC) appears to be gearing up for the launch of a mobile app division to bring in $200 million in annual revenue.
Over the last five years, the company has acquired around eight mobile apps, according to Axios.
It’s added them to its mobile division called Mosaic, which continues to build apps itself. To date, Mosaic has built five full-scale apps.
IAC wants to add another eight apps this year across categories such as mental health, meditation and mood journaling.
Sources close to the matter told Axios that the mobile apps group has seen steady growth over the last seven quarters. For Q3, Mosaic apps brought in $51.2 million gearing up to overtake the company’s desktop business.
It has over 4 million paying subscribers across its apps.
More than 40% of IAC’s total app revenue comes from mobile, up 23% from last year.
Most of the company’s apps are non-gaming apps, e.g. Robokiller is a spam blocker and iTranslate is a translation app.