Angie’s List was supposed to be a juggernaut in home services. When I was renovating my home, I found the service to be invaluable. But the problem with Angi wasn’t the quality of the service, but demand. Very rich people have a network of contractors that they use, none of which give a shit about third party reviews.
Poor people use masking tape to fix things and veg out all day on Facebook and Instagram, dreaming about a life that could’ve been theirs, but never actually materialized.
That leaves the middle class, which has been shrinking, thanks in large part to a fucked up healthcare system, expensive education, and an urbanization of America that is revolved around renting expensive apartments instead of buying and fixing homes.
All of these things worked to derail ANGI and their misery has ended tonight, with the announcement that $IACI will acquire it whole for $500m or $8.50, a 44% premium over Monday’s close.
Barry Diller’s IAC has been a serial acquirer of web properties, including About.com, Ask, College Humor, Citysearch, Dictionary.com, HomeAdvisor, Investopedia, Match, The Daily Beast, Vimeo, as well as a slew of other small third rate websites.
In spite of lackluster revenue growth, shares of IAC have been on a tear — hitting record highs.
He paid $499 million too much. The site blows.
In B4 frog comes in and posts endlessly about gentrification and other SJW hang ups
That tadpole and its robot shills have painted themselves to the pinnacle of pointlessness! Nobody takes them seriously. LMFAO
Frog is prohibited as he’s an ANGI insider…which preserves the ambiguity of his orientation.
So it’s a company made up of shitty sites that no one uses… Get Out!
I think Dr. Fly’s comments are on point. Good read while enjoying a cup of coffee here.