Exec: Angie’s List Can Return to Growth
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAs Angie’s List employees continue to move into their new downtown headquarters, a HomeAdvisor executive is confident it can become "a growth company again." Chief Product Officer Brandon Ridenour says, while the trend started late, consumers are making a "huge migration" from word-of-mouth to online references for home services. Colorado-based HomeAdvisor completed the acquisition of Angie’s List last year to create ANGI Homeservices Inc. (Nasdaq: ANGI), and Ridenour says the company is making "very large investments" to make sure it can capitalize on that shift.
Ridenour, who was in town for a TechPoint event, says the move to the new space on E. Washington St. should be complete by next month. He says the new headquarters shows a long-term commitment to Indianapolis and will provide "phenomenal collaboration space" for employees. Angie’s list will occupy four floors of the building, as well as the roof terrace at the top of the building.
When the acquisition was originally announced in May of 2017, it was valued at up to $500 million. Angie’s List has been a long-time beacon of the state’s growing tech scene and Angie Hicks last month was named 2017 Trailblazer Award winner for the annual Mira Awards by the state’s high tech initiative, TechPoint. Ridenour says he knows how important the Angie’s List brand is to Indianapolis, and says the company wants to continue to "perpetuate the legacy it has developed."
In February, ANGI Homeservices Chief Executive Officer Chris Terrill said Indianapolis would play a key role in driving the digital marketplace toward the scope and sale of other properties of parent company IAC (Nasdaq: IAC) like Match.com and Expedia.com.
In March, a group of investors, many with previous ties to Angie’s list, closed on the acquisition of the company’s former corporate campus, with the idea of creating a creative "playground."