Barry Diller's IAC is nearing a deal to sell Care.com, its online caregiving marketplace, as the media conglomerate faces pressure from poor stock performance. The company has been streamlining operations to focus on core assets, suggesting a strategic shift away from non-essential businesses. This move comes as IAC seeks to improve investor confidence and shore up its financial position.

Care.com, which connects families with caregivers, has been part of IAC's portfolio of digital services. The decision to divest reflects broader challenges in the caregiving sector and IAC's need to optimize its holdings. Sources indicate the sale could help IAC redirect resources toward more profitable ventures within its media and technology divisions.

The timing of the potential sale underscores IAC's efforts to boost shareholder value amid market headwinds. By shedding Care.com, Barry Diller aims to streamline IAC's portfolio and concentrate on businesses with stronger growth prospects. This strategic pivot highlights the ongoing evolution of IAC's corporate strategy in response to shifting market dynamics.