Welcome to our dedicated page for Angi news (Ticker: ANGI), a resource for investors and traders seeking the latest updates and insights on Angi stock.
About Angi Inc. (NASDAQ: ANGI)
Angi Inc. is a leading digital platform dedicated to simplifying the homeownership experience by connecting homeowners with a vast network of skilled service professionals. From small repairs to large-scale renovations, Angi empowers homeowners to find, hire, and manage home service providers with ease. Operating under well-known brands such as Angi, HomeAdvisor, and Handy, the company offers a comprehensive solution for researching, booking, and completing home improvement projects.
Business Model and Revenue Streams
Angi's business model is built on three primary revenue segments: Ads and Leads, Services, and International. The 'Ads and Leads' segment generates the majority of the company's revenue by connecting service professionals with homeowners seeking their expertise. Through subscription-based advertising and lead generation, Angi enables service providers to grow their businesses while ensuring homeowners receive quality service. Additionally, the 'Services' segment offers pre-priced options, allowing customers to book and pay for services directly through the platform. The company also has a growing international presence, particularly in Europe and Canada, further diversifying its revenue streams.
Industry Context and Market Position
Angi operates within the expansive and evolving home services industry, which encompasses everything from home repairs and cleaning to landscaping and remodeling. With the rising trend of homeowners opting to renovate rather than relocate, Angi is well-positioned to capitalize on the increasing demand for reliable and convenient home services. The company addresses common homeowner pain points, such as the stress of finding trustworthy professionals and managing project costs, by offering a seamless digital experience and a robust network of over 230,000 vetted service providers.
Competitive Landscape and Differentiation
In a competitive market that includes platforms like Thumbtack and TaskRabbit, Angi distinguishes itself through its extensive professional network, user-friendly platform, and commitment to quality. The company also invests in initiatives to address industry challenges, such as the skilled labor shortage, through programs like the Angi Trade Up Scholarship. This initiative not only supports the next generation of tradespeople but also reinforces Angi's role as a leader in the home services ecosystem.
Commitment to Homeowners and Service Providers
Angi's mission extends beyond connecting homeowners with service professionals. The platform provides tools for cost research, project inspiration, and seamless booking, ensuring a positive experience for both customers and professionals. By fostering trust and transparency, Angi helps homeowners achieve their project goals while enabling service providers to grow and thrive in their businesses.
Looking Ahead
With over 25 years of experience in the home services industry, Angi continues to innovate and adapt to the changing needs of homeowners and professionals. The company's focus on sustainability, technology integration, and support for skilled trades positions it as a key player in shaping the future of homeownership and home improvement.
ANGI Homeservices (NASDAQ: ANGI) announced that CFO Jamie Cohen will step down effective January 1, 2021, to pursue another opportunity. Glenn H. Schiffman, CFO of IAC, will act as interim CFO while a search for Cohen's permanent replacement is conducted. Cohen will remain in her role until the year's end and then move to an advisory position to ensure a smooth transition. CEO Brandon Ridenour praised Cohen's contributions over nearly a decade, emphasizing her role in building a strong financial foundation for the company's growth.
On Nov. 16, 2020, HomeAdvisor, a subsidiary of ANGI Homeservices (NASDAQ: ANGI), released its 2020 State of Home Spending Report. The report reveals that average spending on home services surged to $13,138 in 2020, up from $9,081 in 2019, driven by increased home improvement due to COVID-19. Key findings include 30% of projects being delayed or unstarted due to the pandemic, with a significant shift in consumer spending from entertainment to home services. Millennials are leading in home improvement expenditures, averaging $10,000.
ANGI Homeservices will participate in the Needham Virtual Internet Services Conference on November 16, 2020. CEO Brandon Ridenour is scheduled for a fireside chat at 10:00 a.m. ET. This event will be accessible via a live webcast on Needham’s website, with a replay available afterward. ANGI Homeservices connects consumers with over 230,000 service professionals for various home improvement tasks, facilitating 25 million projects annually across multiple brands. The company is headquartered in Denver, Colorado.
On November 5, 2020, ANGI Homeservices reported its third quarter financial results. The details are available on their investor relations website. A virtual conference call is scheduled for November 6, 2020, at 8:30 a.m. ET, where key executives will discuss quarterly performance and answer questions. ANGI Homeservices connects consumers with over 230,000 service professionals for home improvement projects across North America and Europe, facilitating more than 25 million projects annually.
ANGI Homeservices will release its third quarter results on November 5, 2020. The announcement will follow after market trading closes.
A virtual conference call will be held on November 6, 2020, at 8:30 a.m. EST, co-hosted by ANGI Homeservices and IAC, allowing stakeholders to discuss the third quarter results.
ANGI operates across North America and Europe, connecting consumers with over 230,000 service professionals for home improvement projects. The company emphasizes its role in transforming the home services marketplace.
HomeAdvisor, a digital marketplace under ANGI Homeservices (NASDAQ: ANGI), has expanded its payment tool, HomeAdvisor Pay, enabling service pros to accept payments from all homeowners nationwide. Since its launch in April 2020, it has processed approximately $100,000 daily, facilitating millions in total payments. This tool offers a contactless payment option, addressing consumer preferences heightened by the COVID-19 pandemic. A survey indicates that 92% of homeowners plan to hire pros this year, pushing demand for digital solutions.
IAC released September metrics for ANGI Homeservices, highlighting its extensive network of over 230,000 service professionals across North America and Europe. The platforms facilitate consumer connections for home improvement projects, enabling more than 25 million projects annually. IAC, which owns several brands including HomeAdvisor and Angie’s List, emphasizes its role in transforming the home service industry through effective matchmaking. This report underscores the company's commitment to connecting consumers with quality home service pros.
HomeAdvisor released a report titled Skilled Trades in America, examining job opportunities within the $500 billion home services industry. The survey revealed that 82% of skilled trades professionals are satisfied with their careers, yet 71% report a shortage of skilled labor. Only 10% of workers in certain trades are women, highlighting diversity issues. Recommendations include improved recruitment via vocational programs in high schools and enhancing the perception of blue-collar work. The report is based on responses from 3,766 professionals during late 2019 and early 2020.
On September 14, 2020, IAC announced the release of its monthly metrics for August, available on their investor relations website. ANGI Homeservices, a subsidiary of IAC, provides a platform for home improvement services across North America and Europe, connecting consumers with over 230,000 service professionals. The company facilitates more than 25 million projects annually, offering services in over 500 categories, including remodeling, cleaning, and landscaping. ANGI operates renowned brands like HomeAdvisor, Angie’s List, and Handy, redefining home service accessibility.
ANGI Homeservices (NASDAQ: ANGI) announced the appointment of Christopher Bohnert as Senior Vice President, Chief Accounting Officer and Controller, effective immediately. Bohnert, who joined as Corporate Controller earlier this year, brings over 20 years of accounting and financial reporting experience. He succeeds Michael Schwerdtman, who retains his position as Senior Vice President and Controller of IAC/InterActiveCorp. The leadership change aims to enhance ANGI's accounting operations and SEC reporting as the company continues its growth trajectory.
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