Question 1

What is Angi?

Accepted Answer

Angi Inc. (NASDAQ: ANGI) generated $1.9 billion revenue in 2024 (down from $2.0B 2023, $2.1B 2021 peak) as home services marketplace connecting homeowners with contractors, plumbers, electricians, cleaners, landscapers through three brands: Angi (subscription directory, formerly Angie's List founded 1995), HomeAdvisor (lead generation marketplace launched 1999 as ServiceMagic), and Handy (on-demand cleaning/handyman, acquired 2018 $500M). Business model bifurcated: (1) Marketplace ($1.3B revenue, 70% total): service professionals (pros) pay $300-500/month subscriptions plus per-lead fees $15-80 (homeowner requests quote, Angi sells lead to 3-4 competing pros, pay-per-lead model), pros complain low conversion rates 10-20% (paying $50 lead, only 1 in 5-10 close job, economics unsustainable versus direct marketing), (2) Fixed-Price Services ($600M revenue, 30%, fastest-declining): Handy cleaning/handyman, Angi roofing/HVAC bundled pricing (homeowner books $199 house cleaning directly, Angi contracts gig worker/pro, margin 20-30%), struggling profitability (thin margins, customer acquisition costs $100-200, retention poor).

Question 2

When was Angi founded?

Accepted Answer

Angi was founded in 1995 in Columbus, Ohio (Angie's List) / Denver, Colorado (HomeAdvisor). formed 2017 merging Angie's List (1995 Columbus, OH by Angie Hicks/William Oesterle, paid membership $5-15/month consumer reviews directory, A-F contractor grades, 1995-2010 geographic expansion 200+ cities, 2011 IPO $600M valuation, Yelp free reviews eroded paywall) and HomeAdvisor (1999 Denver as ServiceMagic by Rodney Rice, lead generation marketplace selling contractor leads $30-100, $300-500/month subscriptions, 2004 IAC acquisition $180M, 2012 rebrand HomeAdvisor $1B+ revenue, contractors complained low quality leads). 2017 IAC merged forming ANGI Homeservices (renamed Angi 2021). 2018 Handy acquisition $500M (2012 NYC on-demand cleaning gig app, Hanrahan/Dua Harvard founders). $1.9B revenue 2024, 200K+ pros. Three brands: Angi (reviews), HomeAdvisor (leads), Handy (fixed-price). Business model: Marketplace $1.3B (70%, subscriptions+leads), Fixed-Price $600M (30%, Handy direct booking). Joey Levin CEO (IAC). Competing Amazon Home Services, Thumbtack $3.2B valuation (pay-per-close vs. subscription+leads), Yelp, ServiceTitan contractor software. Challenges: 2021 peak $2.1B → 2024 $1.9B decline, stock crashed $17 → $2 (90%+), low lead conversion 10-20%, customer acquisition $100-200, pandemic boom-bust, housing slowdown. 2024 AI matching pivot, fixed-price expansion.

Question 3

What are Angi's major milestones?

Accepted Answer

Angi has achieved significant milestones throughout its history. In 1995, Angie's List Founded: Columbus, OH. Angie Hicks, William Oesterle. Paid membership $5-15/month. Consumer reviews directory. A-F contractor grades. Yellow Pages alternative. In 1999, ServiceMagic (HomeAdvisor) Founded: Denver. Rodney Rice. Lead generation marketplace. Contractors pay $30-100/lead, $300-500/month subscriptions. Pay-per-lead model. In 2004, IAC Acquires ServiceMagic ($180M): Barry Diller internet conglomerate (Match, Expedia). Scaling lead gen business. Contractor network expansion. In 2011, Angie's List IPO (NASDAQ: ANGI): $130M raise, $600M valuation peak. 3M subscribers. 200+ cities. Yelp free reviews eroding paywall model. In 2012, ServiceMagic Rebrands HomeAdvisor: $1B+ revenue. 'Advisor' name testing. Contractor lawsuits fraudulent billing, low lead quality. These milestones represent the company's evolution and growth in its industry.

Question 4

What is Angi's mission?

Accepted Answer

Angi's mission is to To help homeowners care for their homes with confidence by connecting them with trusted, high-quality service professionals and transparent pricing.

Question 5

Who founded Angi?

Accepted Answer

Angi was founded by Angie Hicks and William Oesterle. Angi formed 2017 merging Angie's List (consumer-review subscription service founded 1995) and HomeAdvisor (lead generation marketplace founded 1999 as ServiceMagic). Angie's List origins: 1995 Columbus, Ohio when Angie Hicks (DePauw University grad) and William Oesterle (venture capitalist, later Indiana Republican gubernatorial candidate) launched as alternative to Yellow Pages. Founding insight: homeowners frustrated finding reliable contractors (scams, shoddy work, price gouging common 1990s, no online reviews Yelp-era). Angie's List business model: paid membership $5-15/month (later $50/year), members submitted reviews plumbers/electricians/roofers (A-F letter grades), directory searchable by service/zip code. Advertiser-free positioning (reviews unbiased, unlike Yellow Pages paid ads). 1995-2010 slow geographic expansion (launched Columbus, added Indianapolis, Cincinnati, 200+ cities manually building local databases, pre-internet physical mailers, call centers). 2011 IPO (NASDAQ: ANGI, $130M raise, $600M valuation peak), but growth plateaued (Yelp launched 2004 free reviews undermining Angie's subscription paywall, Google search dominance reducing directory traffic). HomeAdvisor separate origins: 1999 founded as ServiceMagic by Rodney Rice (serial entrepreneur), Denver-based lead generation marketplace (homeowners request quotes, ServiceMagic sells leads to contractors $30-100 each, pay-per-lead model, contractors paid monthly subscriptions $300-500 access leads). 2004 IAC (InterActiveCorp, Barry Diller's internet conglomerate owning Match.com, Expedia, Ask.com) acquired ServiceMagic $180M. 2012 rebranded HomeAdvisor (name tested better, 'advisor' implied expertise). By 2017 HomeAdvisor $1B+ revenue, but controversial: contractors complained low lead quality (homeowners price-shopping, not serious, leads sold to 4-5 competitors simultaneously reducing close rates), lawsuits alleging fraudulent billing (contractors charged for invalid/duplicate leads). 2017 merger: IAC merged Angie's List (struggling $350M revenue, 3M subscribers declining) with HomeAdvisor ($1.2B revenue, 200K+ pros) forming 'ANGI Homeservices Inc.' (later renamed Angi Inc. 2021). Joey Levin (IAC CEO 2015-present, Match.com architect) led consolidation (cost synergies, cross-selling Angie reviews + HomeAdvisor leads). 2018 acquired Handy (on-demand cleaning/handyman app founded 2012 NYC by Oisin Hanrahan/Umang Dua Harvard classmates, gig economy model, $500M acquisition adding fixed-price instant booking versus leads). Post-merger struggles: brand confusion (Angie's List, HomeAdvisor, Handy separate apps/brands until 2021 unified Angi mobile app), pro churn (contractors canceling subscriptions, lead costs outweighing revenue), pandemic boom-then-bust. Angie Hicks (co-founder) left 2016 (became board advisor), William Oesterle exited 2015 (ran unsuccessful Indiana gubernatorial campaign 2016). Handy founders departed post-acquisition. Current CEO Joey Levin (IAC), Angi president Jeff Kip (2023-present, former Zillow/OfferUp exec).

Question 6

What products or services does Angi offer?

Accepted Answer

(NASDAQ: ANGI) generated $1.9 billion revenue in 2024 (down from $2.0B 2023, $2.1B 2021 peak) as home services marketplace connecting homeowners with contractors, plumbers, electricians, cleaners, landscapers through three brands: Angi (subscription directory, formerly Angie's List founded 1995), HomeAdvisor (lead generation marketplace launched 1999 as ServiceMagic), and Handy (on-demand cleaning/handyman, acquired 2018 $500M). Business model bifurcated: (1) Marketplace ($1.3B revenue, 70% total): service professionals (pros) pay $300-500/month subscriptions plus per-lead fees $15-80 (homeowner requests quote, Angi sells lead to 3-4 competing pros, pay-per-lead model), pros complain low conversion rates 10-20% (paying $50 lead, only 1 in 5-10 close job, economics unsustainable versus direct marketing), (2) Fixed-Price Services ($600M revenue, 30%, fastest-declining): Handy cleaning/handyman, Angi roofing/HVAC bundled pricing (homeowner books $199 house cleaning directly, Angi contracts gig worker/pro, margin 20-30%), struggling profitability (thin margins, customer acquisition costs $100-200, retention poor).

Question 7

Who uses Angi?

Accepted Answer

Business model bifurcated: (1) Marketplace ($1.3B revenue, 70% total): service professionals (pros) pay $300-500/month subscriptions plus per-lead fees $15-80 (homeowner requests quote, Angi sells lead to 3-4 competing pros, pay-per-lead model), pros complain low conversion rates 10-20% (paying $50 lead, only 1 in 5-10 close job, economics unsustainable versus direct marketing), (2) Fixed-Price Services ($600M revenue, 30%, fastest-declining): Handy cleaning/handyman, Angi roofing/HVAC bundled pricing (homeowner books $199 house cleaning directly, Angi contracts gig worker/pro, margin 20-30%), struggling profitability (thin margins, customer acquisition costs $100-200, retention poor).

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