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ANGI Homeservices

#6347

Rank

$770.19M

Marketcap

US United States

Country

ANGI Homeservices
Leadership team

Dr. Kulesh Shanmugasundaram (Chief Technology Officer)

Ms. Dhanusha Sivajee (Chief Marketing Officer)

Mr. Umang Dua (Sr. Advisor)

Products/ Services
Advertising, Home Services, Local, Marketplace, Professional Services
Number of Employees
1,000 - 20,000
Headquarters
New York, New York, United States
Established
1995
Company Registration
SEC CIK number: 0001705110
Revenue
Above - 1B
Traded as
ANGI
Overview
Location
Summary
Angi Inc. connects home service professionals with consumers in the United States and internationally. Its Angi Ads business, which connects consumers with service professionals for local services through the Angi nationwide online directory of service professionals in various service categories; provides consumers with valuable tools, services, and content, including verified reviews, to help them research, shop, and hire for local services; and sells term-based website, and mobile and digital magazine advertising to service professionals, as well as provides quoting, invoicing, and payment services. The company also owns and operates Angi Leads digital marketplace service that connects consumers with service professionals for home repair, maintenance, and improvement projects; offers consumers with tools and resources to find local, pre-screened, and customer-rated service professionals, as well as online appointment booking; and connects consumers with service professionals by telephone, and home services-related resources. In addition, it operates Handy, a platform for household services, primarily cleaning and handyman services; Angi Roofing, which provides roof replacement and repair services; and home services marketplaces under the Travaux, MyHammer, Werkspot, MyBuilder, and Instapro names. As of December 31, 2021, it had a network of approximately 206,000 transacting service professionals; and approximately 38,000 advertising service professionals. The company was formerly known as ANGI Homeservices Inc. and changed its name to Angi Inc. in March 2021. The company was incorporated in 2017 and is headquartered in Denver, Colorado. Angi Inc. is a subsidiary of IAC/InterActiveCorp.
History

William S. Oesterle and Angie Hicks founded Angie's List in 1995. The idea resulted from Hicks's search for a reliable construction contractor in suburban Columbus, Ohio, on behalf of Oesterle, a venture capitalist who was Hicks's boss. Hicks moved to Columbus to join Oesterle in creating Columbus Neighbors, a call-in service, and publication with reviews of local home and lawn care services. The name and concept were based on Unified Neighbors in Indianapolis, Indiana. Hicks went door-to-door, signing up consumers as members and collecting ratings of local contractors. After Hicks recruited over 1,000 members in Columbus within one year, she turned to Oesterle to raise money from investors to develop the business.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. 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.

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. In 2004, IAC acquired the website for an undisclosed price.On July 22, 2004, IAC acquired ServiceMagic. In October 2008, ServiceMagic acquired the French business 123Devis.com and Travaux.com, as well as UK business 123GetAQuote.co.uk to create ServiceMagic Europe. In March 2009, the UK business was rebranded as ServiceMagic.co.uk.In 2012, the firm changed its name to HomeAdvisor.In 2013, HomeAdvisor acquired Werkspot.nl, the leading Dutch home improvement platform. In 2014, Werkspot.nl opens her twin company in Italy: Instapro.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.In 2016, HomeAdvisor acquired the German home services company, MyHammer. In 2017, it acquired Canada's leading home services platform, HomeStars, and MyBuilder, the UK's leading home services platform connecting homeowners and tradesmen.

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. In November 2010, Saints Capital led an additional funding of $2.5 million.

On November 17, 2011,t he firm began trading on the NASDAQ exchange under the ticker symbol ANGI. It priced 8.8M shares at $13 and opened for trading at $18, a 33% premium.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.On October 2, 2017, IAC announced that it had agreed to acquire Angie's List for $781.4 million. and it merged Angie's List and HomeAdvisor, renaming the merged company to ANGI Homeservices, retaining Angie's List ticker symbol and stock history.In October 2018, ANGI Homeservices bought Handy for $165.5 million. In March 2021, Angie's List changed its name to Angi, and ANGI Homeservices Inc. changed its name to Angi Inc.

Mission
Angie's List takes the “ask-your-neighbor” approach to a higher level to provide reliable, unbiased ratings and reviews on local services.
Vision
Our vision is to be the leading home services platform for both consumers and professionals.
Key Team

Mr. Joseph M. Levin (CEO & Chairman)

Mr. Andrew Russakoff (Chief Financial Officer)

Ms. Shannon M. Shaw (Chief Legal Officer & Sec.)

Mr. Christopher W. Bohnert (Sr. VP, Chief Accounting Officer & Controller)

Mr. Mark Schneider (Head of Investor Relations)

Mr. Andrew Rogers (VP of Consumer Strategy and Bus. Devel.)

Mr. Michael Wanderer (Chief People Officer)

Recognition and Awards
ANGI Homeservices has been recognized over the years by Forbes Magazine, Industry Leaders Magazine, and the Inc 500. The company was also awarded the Golden Bridge Award for Cloud Enablement in 2019 and the Mobile Star Awards for Home Services in 2020.
References

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ANGI Homeservices
Leadership team

Dr. Kulesh Shanmugasundaram (Chief Technology Officer)

Ms. Dhanusha Sivajee (Chief Marketing Officer)

Mr. Umang Dua (Sr. Advisor)

Products/ Services
Advertising, Home Services, Local, Marketplace, Professional Services
Number of Employees
1,000 - 20,000
Headquarters
New York, New York, United States
Established
1995
Company Registration
SEC CIK number: 0001705110
Revenue
Above - 1B
Traded as
ANGI