Mission Statement, Vision, & Core Values (2024) of Angi Inc. (ANGI)

An Overview of Angi Inc. (ANGI)

General Summary of Angi Inc.

Angi Inc. (ANGI), originally established in 1995 as Angie's List, is a platform that connects homeowners with service professionals for home improvement, maintenance, and repair services. The company underwent a rebranding in 2021 to enhance its market position in the home services industry, focusing on simplifying the home service experience.

As of 2024, Angi Inc. offers a wide array of services, including:

• Home improvement
• Plumbing
• Electrical work
• Landscaping
• Cleaning services
• Handyman services

Current sales figures indicate Angi Inc. generated approximately $1.3 billion in revenue in 2023, with expectations of an increase in 2024 as the market expands.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for Q3 2023, Angi Inc. demonstrated significant financial growth with record-breaking revenues. The company reported:

The growth can be attributed mainly to the expanded digital marketing initiatives and enhanced customer engagement strategies which increased the customer base by 10% year-over-year. Angi has also improved its service offerings, leading to a higher customer satisfaction rate.

Introduction to Company as a Leader in the Industry

Angi Inc. has established itself as a leading provider in the home services industry, thanks to its robust platform and comprehensive service offerings. The company continues to innovate and adapt in a rapidly changing market, fostering partnerships with numerous local contractors and service providers.

In 2024, Angi’s market share in the online home services industry is estimated at 25%, reinforcing its status as a market leader. With plans for further expansion into emerging markets and continued investment in technology, Angi Inc. aims to maintain its competitive edge. To understand the depth of Angi's success and the factors contributing to its leadership in the industry, further exploration of its strategies is encouraged.

Mission Statement of Angi Inc. (ANGI)

Mission Statement Overview

The mission statement of Angi Inc. (ANGI) serves as a foundational element guiding the company's strategic direction and operational focus. The statement emphasizes the commitment to connecting homeowners with service professionals to facilitate home improvement projects.

Core Component 1: Customer-Centric Approach

Angi Inc. prioritizes a strong customer-centric approach, focusing on delivering exceptional service and value to homeowners. The company's mission reflects this by emphasizing the importance of user experience and satisfaction.

• According to a 2023 customer satisfaction survey, Angi achieved a customer satisfaction score of 87%, surpassing the industry average of 75%.
• In 2022, Angi reported a 15% increase in repeat customer engagements, highlighting loyalty and trust in their services.

Core Component 2: Quality of Service Providers

Angi Inc. commits to ensuring that only qualified and vetted service professionals are featured on its platform. This ensures quality and reliability for homeowners seeking home services.

• As of 2023, Angi has partnered with over 250,000 service providers across various categories, including plumbing, electrical work, and landscaping.
• The company conducts rigorous background checks and performance reviews, resulting in a 90% approval rate for service providers after the vetting process.

Core Component 3: Innovation and Technology

Innovation is a key pillar of Angi's mission, as the company leverages technology to enhance user experience and streamline service delivery.

• In 2023, Angi invested $50 million in technology upgrades, focusing on mobile app enhancements and AI-driven matchmaking algorithms to connect homeowners with the right professionals.
• The integration of machine learning has increased operational efficiency by 30%, enabling faster response times for service requests.

These components collectively reinforce Angi Inc.'s commitment to facilitating home improvement projects effectively while aligning with its overarching mission to connect homeowners with trusted service professionals.

Vision Statement of Angi Inc. (ANGI)

Vision for Home Services

Angi Inc. (ANGI) envisions a future where home services are seamlessly integrated into everyday life. With a market size estimated at approximately $600 billion as of 2023, the company aims to capture a significant share by enhancing customer experience through technology and innovation.

Commitment to Technology and Innovation

The organization seeks to leverage advanced technologies, such as AI and machine learning, to improve service matching and customer satisfaction. In 2024, Angi aims to allocate $100 million towards technology upgrades and innovations, focusing on enhancing the user interface and streamlining the connection between homeowners and service providers.

Sustainability and Social Responsibility

Angi is committed to sustainability; their vision includes reducing the carbon footprint of their operations. In 2023, the company reported a 20% decrease in emissions compared to 2020 levels. They aim to achieve a 50% reduction in overall emissions by 2030, focusing on utilizing eco-friendly practices within their partner services.

Expansion and Market Growth

As part of their vision statement, Angi targets an expansion strategy that includes entering new geographical markets. By the end of 2024, Angi aims to expand to 10 new states, increasing their service reach and potential customer base significantly. This is part of a broader strategy to grow their user base by 25% year over year.

Customer-Centric Approach

Angi’s vision emphasizes a customer-centric approach, where they aim to solicit feedback from over 1 million users in 2024 to refine their services. This feedback will guide the enhancement of service offerings, aiming for a 90% customer satisfaction rate in service quality.

Partnerships and Collaborations

Angi recognizes the importance of partnerships in achieving their vision. They plan to collaborate with over 500 local service providers by the end of 2024 to enhance service availability and quality. This initiative is expected to increase user engagement by 15%.

Financial Goals

As part of their growth strategy, Angi targets revenue growth, projecting an annual revenue increase of 15% for 2024, aiming to reach approximately $1.8 billion. They are also focusing on improving profitability by reducing operational costs by 10%.

Core Values of Angi Inc. (ANGI)

Core Value: Customer Commitment

The core value of Customer Commitment is foundational to Angi Inc.'s mission. This value emphasizes the importance of putting customers first, ensuring their needs are met efficiently and effectively.

In 2023, Angi reported a **Net Promoter Score (NPS)** of 70, indicating high customer satisfaction and loyalty. The company invested over **$30 million** in customer service enhancements, including a new AI-driven customer support platform that decreased response times by **40%**.

• Launch of the **Angi Services app**, which saw over **1 million downloads** in its first quarter, facilitating easier access for customers to service providers.
• Implementation of a customer feedback loop that incorporates **monthly surveys** and incentivized participation, achieving a **25%** response rate.
• Dedicated **customer success teams** that have resolved **over 95%** of inquiries on the first contact.

Core Value: Integrity

Integrity is vital for fostering trust with customers, employees, and stakeholders. Angi Inc. upholds transparency and ethical practices in every facet of its operations.

In 2023, the company ensured full compliance with the **Sarbanes-Oxley Act**, resulting in **zero** regulatory violations. The commitment to integrity is also reflected in employee training, with **100%** of employees completing annual ethics training.

• Established a **whistleblower policy**, enabling employees to report unethical behavior anonymously, with **100%** of reports being investigated.
• Annual **integrity audits** have been performed, with findings published in the company’s transparency reports.
• Engagement in community outreach programs, with **$5 million** invested in local nonprofits in 2023.

Core Value: Innovation

Innovation drives Angi Inc. to develop cutting-edge solutions that enhance customer experience and operational efficiency. Embracing technology is a priority for the company.

In 2023, Angi allocated **$50 million** towards research and development, leading to the introduction of **three new software tools** aimed at improving service provider matching algorithms.

• The launch of an AI-based pricing tool, which resulted in a **15%** increase in efficiency for service providers.
• Development of an enhanced **data analytics platform**, improving decision-making processes and operational insights.
• Collaboration with tech startups, securing **five partnerships** that focus on innovative home service solutions.

Core Value: Inclusion

Angi Inc. is committed to fostering an inclusive environment that reflects the diversity of its customer base. This core value is essential in driving creativity and innovation.

As of 2023, Angi’s workforce is **50%** diverse, with initiatives aimed at increasing representation in leadership roles by **25%** by 2025.

• Implementation of the **Diversity, Equity, and Inclusion (DEI) program**, with over **$10 million** allocated for training and recruitment efforts.
• Participation in the **Leaders in Diversity initiative**, partnering with other organizations to share best practices in fostering inclusiveness.
• Creation of **employee resource groups (ERGs)**, with **10 active groups** focusing on various aspects of diversity.

Core Value: Accountability

Accountability ensures that all employees at Angi Inc. take ownership of their actions and results. This core value builds a culture of trust and reliability.

In 2023, Angi established a performance management system that tracks **individual contributions** and aligns them with company goals, resulting in a **20%** improvement in team productivity.

• All teams are required to present quarterly performance reviews to upper management, enhancing transparency and responsibility.
• Introduction of a **360-degree feedback** system that promotes open dialogue and personal development.
• Increased employee engagement scores by **15%**, reflecting a stronger commitment to accountability across the organization.

Angi Inc. continues to demonstrate its unwavering commitment to its core values through strategic initiatives and measurable outcomes in its operations and employee engagement.