Angi Inc. (ANGI) Bundle
A Brief History of Angi Inc. (ANGI)
Founding and Early Years
Angi Inc. (formerly known as Angie's List) was founded in 1995 by Angie Hicks and Bill Oesterle. It started as a local business directory and services review site for home services and was initially funded by $1.2 million from private investors.
Transformation and Rebranding
In 2017, Angie's List rebranded itself as Angi Inc. to reflect a broader range of services beyond just listing. The company also launched a digital platform to connect consumers with local service professionals across various categories, including home improvement and maintenance.
Public Offering
Angi went public in 2011 under the ticker symbol ANGI. The company raised approximately $16 million during its initial public offering.
Financial Performance
In 2020, Angi reported a revenue of $1.19 billion, a 12% increase from the previous year. The company's net loss for 2020 was $58 million. By Q2 2021, Angi reported revenue of $429 million, showing a year-over-year growth of 24%.
As of 2023, the following financial metrics were reported:
| Metric | 2021 | 2022 | 2023 (Q2) |
|---|---|---|---|
| Revenue | $1.38 billion | $1.58 billion | $800 million |
| Net Income | -$74 million | -$60 million | -$30 million |
| Market Capitalization | $1.7 billion | $1.5 billion | $1.2 billion |
| Stock Price | $12.50 | $10.00 | $6.50 |
Acquisitions
In 2019, Angi Inc. acquired HomeAdvisor, a major player in the online home services market, for approximately $500 million. This acquisition aimed to enhance its offerings and diversify its service categories.
Market Position
As of 2023, Angi Inc. holds a significant position in the home services market, competing with companies such as Thumbtack and TaskRabbit. The company services around 10 million consumers annually.
Business Model
Angi operates on a subscription-based model, charging service professionals a fee to be listed on its platform. In 2022, the average annual subscription fee was reported at $3,000. The company also earns revenue through advertising and lead generation.
Recent Developments
In early 2023, Angi Inc. announced strategic layoffs impacting approximately 18% of its workforce, justified by the need for cost optimization amidst evolving market conditions. The move was expected to save the company around $25 million annually.
Future Growth Strategy
Angi Inc. is focusing on enhancing its technology platform and expanding its service categories. The company plans to increase investments in artificial intelligence and machine learning to improve customer experiences and service offerings.
Challenges and Criticisms
Angi has faced scrutiny regarding customer service complaints and the quality of service providers listed on the platform. In 2022, the Better Business Bureau rated Angi with a score of 1.5 out of 5 based on consumer feedback.
A Who Owns Angi Inc. (ANGI)
Current Ownership Structure
As of the latest available data in 2023, Angi Inc. (ANGI) has a diverse ownership structure comprising institutional investors, retail investors, and company executives.
| Owner Type | Ownership Percentage | Number of Shares |
|---|---|---|
| Institutional Investors | 78.5% | 110,250,000 |
| Insider Ownership | 8.2% | 11,500,000 |
| Retail Investors | 13.3% | 18,750,000 |
Major Institutional Shareholders
Key institutional shareholders play a significant role in the ownership of Angi Inc. The following table outlines the top five institutional owners as of 2023.
| Institution | Shares Held | Ownership Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 22,500,000 | 16.1% |
| BlackRock, Inc. | 20,000,000 | 14.5% |
| State Street Corporation | 15,000,000 | 10.8% |
| First Trust Advisors L.P. | 10,000,000 | 7.2% |
| Invesco Ltd. | 8,500,000 | 6.1% |
Executive and Insider Ownership
The executive team and board members also hold a notable percentage of the company's shares, influencing corporate governance.
| Name | Title | Shares Owned | Ownership Percentage |
|---|---|---|---|
| Oisin Hanrahan | CEO | 3,000,000 | 2.2% |
| Angela Bossie | CFO | 1,500,000 | 1.1% |
| Tracy McMillan | COO | 1,000,000 | 0.7% |
| Board Member | - | 1,000,000 | 0.7% |
Recent Changes in Ownership
Investors and analysts have noted the recent trends in the ownership structure, especially in response to market performance changes.
- In Q1 2023, The Vanguard Group increased its holdings by 2 million shares.
- Institutional ownership saw a decrease of 1.5% compared to 2022.
- Insider ownership increased slightly as executives exercised options.
Market Capitalization and Stock Performance
The market capitalization of Angi Inc. as of October 2023 is approximately $1.25 billion. The stock has shown volatility with a 52-week range of $5.00 - $10.00, reflecting broader market trends.
| Metric | Value |
|---|---|
| Current Stock Price | $8.50 |
| Market Capitalization | $1.25 billion |
| 52-Week High | $10.00 |
| 52-Week Low | $5.00 |
| Dividend Yield | 0% |
Conclusion on Ownership Dynamics
Ownership dynamics in Angi Inc. are characterized by significant institutional investment, a moderate level of insider ownership, and variability influenced by market performance.
Angi Inc. (ANGI) Mission Statement
Overview
Angi Inc. operates with a mission to empower consumers to make confident hiring decisions while simultaneously helping service professionals grow their businesses. This mission is reflected through their various platforms such as Angie's List and HomeAdvisor, which connect consumers with local service professionals.
Financial Performance
As of the latest financial report in Q3 2023, Angi Inc. has shown significant results in its revenue and subscriber growth.
| Metric | Q3 2023 Value | Q3 2022 Value |
|---|---|---|
| Revenue | $404 million | $387 million |
| Net Income | $15 million | Loss of $10 million |
| Active Subscribers | 24 million | 22 million |
| Adjusted EBITDA | $65 million | $60 million |
Core Values
Angi Inc. adheres to several core values that support its mission:
- Transparency: Providing clear information to consumers and service professionals.
- Trust: Building strong relationships through reliable connections.
- Quality: Ensuring high standards for service providers listed on its platforms.
- Community: Fostering local connections and supporting small businesses.
Market Position
As of 2023, Angi Inc. holds a significant position within the home services market. The home services industry was valued at approximately $600 billion, with Angi capturing about 3% market share.
Partnerships and Collaborations
Angi has developed various partnerships with key brands to enhance its service offerings:
- Home Depot: Collaborating to provide users with home improvement solutions.
- Amazon: Integration for user convenience and expanded service reach.
- Local Service Providers: Supporting small businesses through promotional partnerships.
Customer Engagement Strategies
Angi employs multiple strategies to engage and retain customers:
- Personalized Recommendations: Utilizing data analytics for tailored service matching.
- Customer Reviews: Encouraging user feedback to improve service quality.
- Promotional Offers: Regular discounts and incentives for new users.
Future Goals
Looking ahead, Angi aims to:
- Expand its service offerings by integrating additional home services.
- Enhance user experience through technology improvements.
- Increase market share with strategic marketing campaigns.
Recent Developments
In Q2 2023, Angi Inc. announced a new initiative aimed at increasing customer trust through enhanced verification processes for service providers. This initiative is expected to improve user confidence and drive growth.
Competitive Landscape
Angi Inc. competes with several companies in the home services market, including:
- Thumbtack: A platform connecting consumers with local professionals.
- TaskRabbit: Offering on-demand labor for various household tasks.
- HomeAdvisor: A direct competitor within the Angi brand umbrella.
Conclusion
As Angi Inc. continues to evolve, its commitment to its mission statement remains central to its strategy and operations. The company's focus on consumer empowerment, service provider success, and community engagement underscores its significance in the home services ecosystem.
How Angi Inc. (ANGI) Works
Business Model Overview
Angi Inc. operates primarily through its online marketplace, connecting homeowners with service professionals. The company generates revenue through a subscription model and transaction fees from leads provided to service professionals.
Financial Performance
In the fiscal year 2022, Angi Inc. reported revenues of approximately $1.3 billion. The company has been focusing on expanding its member base and service offerings.
Revenue Breakdown
| Source | Revenue (2022) | Percentage of Total Revenue |
|---|---|---|
| Subscription Revenue | $988 million | 76% |
| Transaction Fees | $312 million | 24% |
Market Position
As of Q2 2023, Angi Inc. held a market share of approximately 23% in the U.S. home services sector, competing with companies such as HomeAdvisor, Thumbtack, and TaskRabbit.
User Engagement Metrics
The platform experienced around 25 million unique monthly visitors, showcasing a significant engagement level within the digital home services marketplace.
Service Professional Network
Angi Inc. has established a network of over 250,000 service professionals across various categories, including plumbing, electrical work, and landscaping.
Customer Base
Angi Inc. boasts approximately 10 million active users who utilize the platform to find and review home service professionals.
Cost Structure
| Expense Category | Amount (2022) | Percentage of Total Expenses |
|---|---|---|
| Marketing and Advertising | $450 million | 38% |
| Technology and Development | $210 million | 18% |
| General and Administrative | $265 million | 22% |
| Operational Costs | $230 million | 19% |
Recent Developments
In August 2023, Angi Inc. announced a strategic partnership with a major home improvement retailer, projected to enhance user acquisition by 15% over the next year.
Future Outlook
The company aims to increase its revenue by 20% annually through expansion in service categories and enhanced digital marketing strategies.
How Angi Inc. (ANGI) Makes Money
Business Model Overview
Angi Inc. operates primarily within the home services sector, generating revenue through a variety of service offerings which include digital marketing solutions and subscription services.
Revenue Streams
- Service Listings
- Advertising Revenue
- Subscription Fees
- Lead Generation
- Partner Services
Service Listings
Angi Inc. provides a platform where service professionals can list their services. The company charges these professionals for enhanced visibility and features on the platform.
In 2022, Angi reported a revenue of approximately $1.58 billion, with approximately $1 billion coming from service listings and lead generation.
Advertising Revenue
Angi generates additional income through advertising. Companies pay to have their advertisements displayed to users on the Angi platform. In Q2 2023, Angi's advertising revenue reached $45 million.
Subscription Fees
Angi also derives revenue from subscription services. Users can subscribe for premium services, which grants them access to exclusive content and enhanced features. In 2022, subscription revenue was reported at approximately $200 million.
Lead Generation
Lead generation represents a significant portion of Angi's business model. The company connects customers with service providers and charges fees for each lead generated. According to financial reports, lead generation accounted for approximately 62% of total revenue in 2022.
Partner Services
Angi offers partner services which provide additional benefits to businesses operating in the home services sector. These services allow for value-added offerings to consumers. As of 2023, partner services contributed around $75 million to the overall revenue.
Financial Performance Metrics
| Year | Total Revenue ($ Million) | Service Listings Revenue ($ Million) | Advertising Revenue ($ Million) | Subscription Revenue ($ Million) | Lead Generation Revenue (%) | Partner Services Revenue ($ Million) |
|---|---|---|---|---|---|---|
| 2020 | 1,492 | 900 | 40 | 150 | 55% | 60 |
| 2021 | 1,554 | 950 | 45 | 175 | 57% | 65 |
| 2022 | 1,580 | 1,000 | 50 | 200 | 62% | 75 |
| 2023 (Q2) | 810 | 500 | 45 | 100 | 60% | 40 |
Market Position and Competition
Angi Inc. holds a significant competitive position in the home services market, with a strong focus on digital solutions. As of 2023, Angi had over 15 million service professionals listed on its platform. The company competes with other major players such as HomeAdvisor and Thumbtack.
User Metrics and Engagement
Angi's platform attracted approximately 30 million unique users in 2022. User engagement metrics are vital, with an average session duration of 6 minutes.
Future Growth Strategies
- Expanding service offerings
- Enhancing mobile app functionalities
- Increasing marketing investments
- Acquisitions in complementary sectors
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