Angi Inc. has been through a lot of changes in the last year or so, from a new name to a new CEO, and all of those tweaks seem to be paying big dividends for the company, which reported a 12 percent revenue increase for the second quarter of 2021, jumping from $375.1 million in 2020 to $421 million this year.
This is the third consecutive quarter of double-digit growth for Angi, which rode 127 percent growth in pre-priced Angi Services (now at $73 million) to its new revenue high-water mark. Angi also saw 19 percent growth in Europe in the second quarter of this year as compared to the same time last year.
In addition to the new moniker and leadership team, Angi Inc. also added new capabilities via its acquisition of residential roofing company Total Home Roofing on July 1.
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The home services platform also overhauled its website, adding browsable shopping features last month to allow users to pre-plan home projects, ranging from smaller jobs such as replacing a faucet to larger ones like painting a room. The feature incorporates actual pricing for the projects as well.
The new shopping features are an evolution of Angi Services, the platform’s suite of pre-priced projects that launched last year to remove the uncertainty of waiting for multiple professional matches and quotes.
Angi’s new shoppable features fit with its new “Angi Key” membership program, which recently moved from beta-testing to a permanent feature. The program provides enrolled customers with a 20 percent discount on hundreds of home services for an annual fee of $29.99.
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The company already has about 100,000 members signed up so far. The company has found that members are more engaged in using Angi to find home services and they download the Angi app more frequently.
According to PYMNTS research, 40 percent of consumers sign up for a new subscription plan because it can save them money and 41 percent sign up because it can save them time.