Angi’s CEO, Oisin Hanrahan, told CNN Business that the name change is intended to help highlight that the company has other housing-related services, notably HomeAdvisor and the Handy gig economy market. (Hanrahan is a co-founder of Handy, which joined Angi in 2018 after the company bought its startup.)
“The Angie’s List brand is known and loved … People understand what it stands for and trust it,” said Hanrahan. “The challenge is that we are no longer just a list. Customers were confined and limited by the literal nature of the name.”
He noted that Angi focused on all aspects of the home renovation business, offering customers an easy way to find contractors, book them and pay them – not just a place to review them.
This strategy paid off last year, when millions were stranded at home during the Covid-19 pandemic or fled to the suburbs in search of more space. Wherever they live, many people are looking to improve their homes or are taking on major projects, such as moving to a new home.
Angi is part of the network of public companies Barry Diller IAC
Angi’s shares have risen nearly 25% this year and have shot up about 250% in the past 12 months.
But what will happen to Angi now that many people trapped at home during the past year are looking to travel further thanks to the increased availability of vaccines and the reopening of the economy? They may not be so focused on finding painters or people to fix a broken closet door.
Hanrahan admits that Americans want to get out and start doing things. But he thinks that the broader trend for people to improve their homes will not change – and they will increasingly want to use services like Angi on their phones to find, book and pay for professional service providers, he said.
“Of course, as people start traveling again, there will be a change in the way people spend. But the much bigger shift is from offline spending to online spending in general,” he said.
As for the namesake Angie on Angie’s list, Angela Hicks Bowman was said to have liked the name change. In fact, Hicks is still at the company, serving as director of customer service and director of Angi’s board.
“She is incredibly excited about the evolution and mission of the company,” said Hanrahan. “Home is the most important place on Earth and we want to help people to love the place where they live.”