Company Overview
Angi Inc. (formerly ANGI Homeservices Inc.) is a leading internet services company facilitating connections between homeowners and vetted service professionals. It emerged from the merger of Angie's List and HomeAdvisor in 2017 and is headquartered in Denver, Colorado. Angi operates across various service categories including repair, remodeling, cleaning, and landscaping, and is publicly listed on NASDAQ under the ticker symbol ANGI.
Leadership and Key Executives
- Jeffrey W. Kip - Chief Executive Officer (CEO): Appointed in April 2024, he leads Angi's strategic and operational direction.
- Andrew Russakoff - Chief Financial Officer (CFO): Joined in June 2022, overseeing finance and accounting with a focus on creating a comprehensive home services platform.
- Angie Hicks - Chief Customer Officer: Co-founder of Angi, she plays a critical role in managing customer relationships.
- Dhanusha Sivajee - Chief Marketing Officer (CMO): Responsible for marketing strategies post brand transformation, with prior experience at Bloomberg Media and AOL.
- Kulesh Shanmugasundaram - Chief Technology Officer (CTO): Joined in 2018, assuming CTO role in 2021 to drive technological innovation.
- Michael Wanderer - Chief People Officer: Focuses on human resources strategy and organizational culture.
- Shannon Shaw - Chief Legal Officer: Oversees legal and compliance, bringing over 15 years of expertise.
Business Performance
For the fiscal year ending in 2018, Angi Inc. reported a revenue of US$1.132 billion, an operating income of US$142.035 million, and a net income of US$77.507 million. The company frequently updates its financial results on its investor relations site, demonstrating a commitment to transparency.
Market Position
Angi Inc. is a dominant player in the U.S. online marketplace for home services, connecting with over 200,000 certified professionals. Originating in 1995 as a consumer ratings service known as Angie's List, Angi continues to evolve, integrating technology and customer reviews to ensure trusted service choices for homeowners. Angi, backed by a 3% stake from IAC, leverages strategic acquisitions and brand shifts to address the dynamic home services market.
Competitor Profiling
Competitors
- Thumbtack ([Thumbtack.com](https://www.thumbtack.com)): A tech-driven platform enabling instant job assignments. Compensates via a lead model versus Angi's internal payment management.
- HomeAdvisor ([HomeAdvisor.com](https://www.homeadvisor.com)): Though part of Angi, competes in the large project segment, fostering comprehensive home renovation solutions.
- Houzz ([Houzz.com](https://www.houzz.com)): Specializes in luxury home remodeling and design, offering precise project management tools.
- Porch ([Porchgroup.com](https://porchgroup.com)): Transitioned to software offerings for CRM and moving concierge services, catering to a wide base of service providers.
- Yelp ([Yelp.com](https://www.yelp.com)): Provides a platform for local business visibility enhancement with user engagement focus.
- BuildZoom: Capitalizes on free public data to ensure contractor compliance, directly connecting businesses and potential clients.
- Townsquare Interactive: Offers digital marketing services enhancing online presence, lead tracking, and customer management for home service professionals.
Market Position and Strategy
Angi’s competitive edge lies in its extensive service offerings ranging from minor repairs to large renovations, cementing its reputation amid a competitive $600 billion industry. Strategies involve leveraging brand strength, varied service categories, and comprehensive reviews. Angi navigates competition from HomeAdvisor, Thumbtack, and Porch by emphasizing unique differentiators and partnerships, further strengthening its market position.
Key considerations include cost per lead dynamics affecting client decisions and potential expansion through partnerships or unique services to distinguish from integrated competitors like Porch and Houzz. This analysis highlights strategic insights into Angi's market challenges and potential growth avenues amidst robust competition.