The world-wide-web company corporation regarded as Angie’s Listing has rebranded, revamped its website and released a new application as it looks to additional penetrate the dwelling solutions sector.
Less than its new identify, Angi would like to clean out the dwelling renovation system by offering individuals a single platform to link with contractors, ebook and make payments. The opportunity has an addressable sector of $500 billion, CEO Oisin Hanrahan told CNBC Wednesday.
“This is a big industry … It really is every thing you need to have done within your house,” he said in a “Mad Funds” interview. “This is an massive market. It is really unbelievably damaged.”
The holding business adjusted its name from ANGI Homeservices to Angi Inc. It is portfolio of products and services consists of HomeAdvisor, Handy, Fixd Fix and HomeStars.
Arranging an advancement challenge can be tense for the average home owner, from getting a qualified for the occupation to negotiating price ranges to figuring out funding for highly-priced get the job done. Hanrahan claimed Angi was built to support streamline a career by allowing people tackle every thing in one place.
“There is so considerably friction in the shopping for method,” reported Hanrahan, putting emphasis on the relevance of the purchaser knowledge.
Angi mentioned it has 250,000 organizations for hire on its platform, which was utilized by additional than 18 million U.S. homes last 12 months.
And with homebound customers on the lookout to remodel their dwelling cases amid the pandemic, Angi observed double-digit advancement in 2020. The corporation reported about $1.47 billion in revenues for the yr, up 10.7% from 2019.
“If we make that encounter unbelievably simple by supporting our pros, providing them wonderful function, then our prospects will preserve coming again,” he reported. “We’ll see us seriously adjust the group from just one that’s incredibly fragmented to a person that is much additional consolidated.”
Shares of Angi fell 1.74% on Wednesday to near at $16.33 per share.