The Federal Trade Commission is currently accepting public comments on an application by Red Ventures to divest the assets of Caring.com, as required under the FTC’s March 12, 2018, final order settling charges that Red Ventures’ $1.4 billion acquisition of Bankrate would likely harm competition in the market for third-party paid referral services for senior living facilities.
Red Ventures’ application petitions the FTC to approve its divestiture of Caring.com to Caring Holdings, LLC. Before its acquisition by Red Ventures, Caring.com operated as a wholly-owned subsidiary of Bankrate.com, with its own management and autonomous business; its current operations are covered by a Commission Order to Hold Separate and Maintain Assets pending the business’ divestiture. According to the application, Caring Holdings, LLC is a newly formed company backed by a group of private equity investors and entrepreneurs with a proven track record of growing online businesses. The Caring Holding, LLC team has experience and expertise in lead generation, search engine optimization, digital marketing and customer acquisition.
The Commission will decide whether to approve the application after a 30-day public comment period, which expires on April 23, 2018. Comments can be filed electronically or sent to: FTC Office of the Secretary, 600 Pennsylvania Ave., N.W., Washington. (FTC File No. 1710196; the staff contact is Elizabeth Piotrowski, Bureau of Competition, 202-326-2623.)
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