IAC said Wednesday it's exploring a possible distribution of its interests in Match Group and ANGI Homeservices to its shareholders. IAC shares rose as much as 6% in after-hours trading before settling on a slight gain. In a letter to shareholders that coincided with the company's June quarter earnings release, IAC CEO Joey Levin said the company was considering spinning out the two publicly traded subsidiaries, but that "we don't yet know where that process will lead" and said it may ultimately choose to spin off both, one or neither company. IAC owns 80% of Match Group, which includes online dating services providers like Tinder, Match, Hinge and OKCupid. IAC also owns 83% of ANGI Homeservices, which holds digital marketplace companies like Angie's List and Handy. "This isn't just legalese to preserve IAC's options with an expected outcome in mind – we sincerely haven't yet decided what's best," Levin wrote.