May 19, 2024

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Comfortable residential structure

Angie’s Listing rebrands as one-cease shop for home improvement solutions

The internet service company recognized as Angie’s Record has rebranded, revamped its web site and released a new application as it seems to be to even more penetrate the dwelling expert services sector.

Less than its new identify, Angi needs to smooth out the dwelling renovation procedure by offering shoppers a one system to connect with contractors, e book and make payments. The prospect has an addressable current market of $500 billion, CEO Oisin Hanrahan instructed CNBC Wednesday.

“This is a enormous current market … It truly is anything you need to have carried out within your household,” he explained in a “Mad Income” job interview. “This is an enormous sector. It’s unbelievably broken.”

The holding enterprise adjusted its identify from ANGI Homeservices to Angi Inc. It truly is portfolio of companies consists of HomeAdvisor, Helpful, Fixd Restore and HomeStars.

Scheduling an advancement venture can be demanding for the ordinary home owner, from getting a experienced for the occupation to negotiating price ranges to figuring out funding for costly operate. Hanrahan claimed Angi was made to assistance streamline a occupation by allowing individuals deal with every thing in a person position.

“There’s so considerably friction in the buying procedure,” stated Hanrahan, putting emphasis on the value of the purchaser experience.

Angi mentioned it has 250,000 organizations for employ on its platform, which was used by far more than 18 million U.S. households final 12 months.

And with homebound customers searching to remodel their residing cases amid the pandemic, Angi observed double-digit growth in 2020. The business described about $1.47 billion in revenues for the year, up 10.7% from 2019.

“If we make that encounter unbelievably uncomplicated by supporting our pros, offering them fantastic work, then our consumers will hold coming again,” he claimed. “We’ll see us really adjust the group from a single that’s amazingly fragmented to a person that’s substantially much more consolidated.”

Shares of Angi fell 1.74% on Wednesday to shut at $16.33 for each share.