Coming off one of the stock market's worst years in a long time, there are some promising undervalued growth stocks to consider buying at the start of 2023. But I would keep my eye on one overlooked gem in the consumer area.

IAC (NASDAQ: IAC) is one of the most promising growth stocks that no one talks about. IAC is basically a holding company of consumer products and brands. The company has acquired and spun-off many businesses over the years since its founding, turning a $100 investment in 1995 into $4,000 at the stock's peak in 2021. 

The stock is currently trading 71% below its all-time high. The market could be significantly undervaluing the company's future growth, particularly the huge opportunity with one of its top brands, the home services provider Angi (formerly Angie's List). 

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Source Fool.com