A source tells us IAC is about to buy a social network with a CEO who actually managed to graduate Harvard. The new Diller thrillers? CEO Geoff Cook and his younger siblings, David and Catherine. Venture capitalists cashing in include First Round Capital's Chris Fralic and US Venture Partners's Rick Lewis. How much did IAC CEO Barry Diller have to pay to get this Facebook clone? We don't know yet. But now that word of the deal is out, you might as well tell us.

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