Angi Inc.
Formerly | ANGI Homeservices Inc. |
---|---|
Company type | IAC (3%) |
Number of employees | 4,500 |
Subsidiaries | |
Website | ir |
Footnotes / references [1][2] |
Angi Inc. (formerly ANGI Homeservices Inc.) is an internet services company formed in 2017 by the merger of Angie's List and
For the
In March 2019, Angi moved its corporate headquarters to Denver, Colorado.[1]
History
William S. Oesterle and
In 2013, Angie's List investors worried that the company had been in business for more than 18 years, yet never had shown an annual profit and that valuations of the company were unrealistic based on the actual revenue the company produces.[8] But by 2015 growth estimates indicate a significant earnings-per-share growth, with a long-term growth rate at 19%. Combine this with stock estimates rising in 2015 by 13.3%, some Securities research firms such as Zacks Investment Research indicated ANGI is well-positioned for future earnings growth.[9]
HomeAdvisor
In 1996, the company bought Unified Neighbors from its creator and moved the company's headquarters to Indianapolis.
In 1998, ServiceMagic was founded by Rodney Rice and Michael Beaudoin who were part of the founding management team of Einstein Bros Bagels.
On July 22, 2004,
In 2012, the firm changed its name to HomeAdvisor.[14]
In 2013, HomeAdvisor acquired Werkspot.nl, the leading Dutch home improvement platform.[15] In 2014,[16] Werkspot.nl opens her twin company in Italy: Instapro.[17]
By 2015, the firm had achieved more than $300 million in annual revenue, been used by more than 30 million homeowners, had nearly 100,000 pre-screened service professionals in its network and almost 3 million verified reviews.[18]
In 2016, HomeAdvisor acquired the German home services company, MyHammer.[19] In 2017, it acquired Canada's leading home services platform, HomeStars,[20] and MyBuilder, the UK's leading home services platform connecting homeowners and tradesmen.[21]
Angi
In 2010, Angie's List raised a total of $25 million in capital from investors. In September 2010, Wasatch Funds and Battery Ventures invested $22 million.[22] In November 2010, Saints Capital led an additional funding of $2.5 million.[23] On November 17, 2011, the firm began trading on the
In July 2016, Angie's List was made a freemium service; the basic membership tier, with access to more than 10 million reviews, was made free, alongside subscription tiers offering additional functionality.[25][26]
On October 2, 2017,
In October 2018, ANGI Homeservices bought Handy for $165.5 million.[1] In March 2021, Angie's List changed its name to Angi, and ANGI Homeservices Inc. changed its name to Angi Inc.[28]
In May 2023, William Oesterle, who co-founded the company with Angie Hicks, died.[29]
Lawsuits
In 2014, Angie's List Inc. paid $2.8 million to settle a lawsuit alleging that it automatically renewed members at a higher rate than they were led to believe.[30]
In August 2016, HomeAdvisor has agreed to settle three lawsuits for a payment of $1,400,000. The class action lawsuits focused on HomeAdvisor acceptance of advertising payments from service providers, and whether those payments affect service providers’ letter-grade ratings, reviews, and place in search-result rankings. HomeAdvisor denies plaintiffs’ claims, but disclosed that revenue from service providers can affect the order of search-result rankings of the service provider under certain settings (Moore vs. AngiesList).[31]
References
- ^ a b c d "ANGI Homeservices 2018 Annual Report". Retrieved August 29, 2019.
- ^ "ANGI Homeservices Inc. (ANGI)". Yahoo Finance. Retrieved August 29, 2019.
- ^ "Golden-based HomeAdvisor completes purchase of Angie's List, goes public, grows 33 percent in a day". October 2, 2017. Retrieved August 28, 2019.
- ^ Yahoo Finance, August 23, 201
- ^ Jamerson, Joshua. "IAC Plans to Buy Angie's List". The Wall Street Journal. Retrieved May 3, 2017.
- ^ Avery, Greg (October 2, 2017). "Colorado's HomeAdvisor and Angie's List combine into new public company". Denver Business Journal. Retrieved May 3, 2019.
- ^ Evans, Teri (October 6, 2010). "No Free Stuff Here: At Angie's List, Members Pay". Wall Street Journal. Retrieved August 2, 2011.
- ^ "Angie's List: Worth $9 Based On Expected Lifetime Member Value In 2015". Seekingalpha.com. October 26, 2013. Retrieved October 18, 2014.
- ^ "Why Angie's List (ANGI) Could Be an Impressive Growth Stock". zacks.com. October 28, 2015. Archived from the original on December 22, 2015. Retrieved October 28, 2015.
- ^ Perez, Sarah (January 21, 2016). "Waldo Raises $5 Million For A Photo-Finding Platform Targeting Professional Photographers & Events". TechCrunch.
- ^ "IAC/InterActiveCorp Acquires ServiceMagic, Inc". IAC. July 22, 2004.
- ^ "IAC/InterActiveCorp Acquires ServiceMagic, Inc". IAC. July 22, 2004. Retrieved October 28, 2015.
- ^ "IAC's ServiceMagic Buys Market Hardware". BIA Kelsey. January 29, 2009.
- ^ "Golden's ServiceMagic becomes HomeAdvisor in risky rebranding strategy". Denver Post. September 28, 2012.
- ^ Ruth, Joao-Pierre (September 13, 2016). "HomeAdvisor CEO: The Marketplace for Home Services Is 'Operationally Intense'". StreetFight.
- ^ "Instapro si accredita in Italia come leader dei marketplace di servizi per la casa". Adnkronos. Retrieved November 11, 2019.
- ^ "Instapro - Confronta Preventivi e Imprese per Lavori in Casa". www.instapro.it. Retrieved November 11, 2019.
- ^ Moorhead, Patrick (July 15, 2015). "lAC's HomeAdvisor Is One To Watch In The Growing "Humans As A Service" (HaaS) Business". Forbes.
- ^ Chuang, Tamara (October 16, 2016). "HomeAdvisor expands to Germany with purchase of MyHammer". Denver Post.
- ^ Avery, Greg (2017). "HomeAdvisor buys Canada's big home improvement site". Denver Business Journal.
- ^ McCaffrey, Erin (March 27, 2017). "HomeAdvisor buys UK home services marketplace MyBuilder". Seeking Alpha.
- ^ Merino, Faith (September 21, 2010). "Angie's List strikes big with $22M". VatorNews.
- ^ Merino, Faith (November 11, 2010). "Angie's List raises $2.5M adding to $22.5M". VatorNews.
- ^ "Angie's List gains 25% in IPO". CNN. November 17, 2011.
- ^ a b "Golden-based HomeAdvisor completes purchase of Angie's List". Denver Post. October 2, 2017. Retrieved October 2, 2017.
- ^ Mercado, Darla (July 13, 2016). "Need a plumber? Angie's List reviews are now free". CNBC. Retrieved July 27, 2016.
- ^ "Merger Proposal". ANGI Homeservices. Retrieved August 28, 2019.
- ^ Monica, Paul R. La (March 17, 2021). "Angie's List changes its name in a complete rebranding | CNN Business". CNN. Retrieved March 26, 2022.
- ^ Slotnik, Daniel E. (May 14, 2023). "Bill Oesterle, Co-Founder of Angie's List, Dies at 57". New York Times. Retrieved May 14, 2023.
- ^ "HomeAdvisor to pay $2.8M in membership-fee settlement". Ibl.com. Retrieved October 18, 2014.
- ^ "Moore v. Angie's List - Home". www.moorevalsettlement.com. Retrieved August 30, 2016.