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Who Owns Angi Inc.?
Angi Inc.'s ownership structure underwent a significant transformation with its spin-off from IAC on April 1, 2025. This event established Angi as an independent, publicly traded company, altering its shareholder base and strategic autonomy.
As of August 2025, Angi Inc. (NASDAQ: ANGI) operates as a prominent digital marketplace for home services, connecting homeowners with a vast network of professionals. The company's recent spin-off from IAC marks a new chapter in its corporate evolution.
Understanding who owns Angi Inc. is crucial for grasping its future trajectory and operational strategies. This analysis explores the key stakeholders influencing the company's direction.
The company's journey began with the founding of Angie's List in 1995 and ServiceMagic (later HomeAdvisor) in 1998. These entities merged under the Angi umbrella, with its earliest roots tracing back to 1995. As of June 30, 2025, Angi reported trailing 12-month revenue of $1.09 billion. A comprehensive Angi PESTEL Analysis can provide further context on the external factors impacting its business.
Who Founded Angi?
The company now known as Angi Inc. has roots in two distinct founding entities: Angie's List and HomeAdvisor, formerly ServiceMagic. Angie's List was established in 1995 by venture capitalist William S. Oesterle and Angie Hicks. Their initial concept, 'Columbus Neighbors,' stemmed from Hicks' difficulty finding a reliable contractor, leading to a local publication featuring crowd-sourced reviews of home services.
| Entity | Founders | Founding Year | Key Early Development |
|---|---|---|---|
| Angie's List | William S. Oesterle, Angie Hicks | 1995 | 'Columbus Neighbors' publication, subscription-based model |
| ServiceMagic (HomeAdvisor) | Rodney Rice, Michael Beaudoin | 1998 | Acquired by InterActive Corp (IAC) in 2004 |
Angie's List Genesis
Angie's List began as 'Columbus Neighbors' in 1995, co-founded by William S. Oesterle and Angie Hicks. The platform focused on crowd-sourced reviews to help consumers find trusted home service providers.
ServiceMagic's Foundation
ServiceMagic, the precursor to HomeAdvisor, was founded in December 1998 by Rodney Rice and Michael Beaudoin. Its mission was also to connect homeowners with vetted service professionals.
Early Rebranding and Relocation
In 1996, Angie's List underwent a rebranding and moved its headquarters to Indianapolis after acquiring 'Unified Neighbors,' expanding its operational reach.
Significant Acquisition
A pivotal moment for ServiceMagic was its acquisition by InterActive Corp (IAC) in 2004. The financial terms of this transaction were not publicly disclosed.
Early Funding for ServiceMagic
In the year 2000, HomeAdvisor Technologies, then ServiceMagic, successfully secured over $100 million in equity funding. This significant investment was notably backed by Microsoft.
Founders' Equity Details
Specific details regarding the initial equity distribution among the founders of both Angie's List and ServiceMagic have not been made public.
The early stages of Angi Inc.'s development were characterized by the distinct growth trajectories of its foundational companies. Angie's List adopted a subscription model, offering members access to a curated database of service providers, a model that contributed to its revenue streams and business model. ServiceMagic, on the other hand, saw a significant ownership shift with its acquisition by IAC in 2004, and prior to that, it had secured substantial funding, highlighting different paths to capitalization and expansion in the nascent online service marketplace.
Founding Milestones
The origins of Angi Inc. trace back to two key entities, each with unique founding stories and early strategic moves.
- Angie's List was co-founded in 1995 by William S. Oesterle and Angie Hicks.
- ServiceMagic, the predecessor to HomeAdvisor, was founded in December 1998 by Rodney Rice and Michael Beaudoin.
- Angie's List evolved from a local publication to a subscription-based service.
- ServiceMagic was acquired by InterActive Corp (IAC) in 2004.
- HomeAdvisor Technologies received over $100 million in equity funding in 2000, with backing from Microsoft.
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How Has Angi’s Ownership Changed Over Time?
Angi Inc.'s ownership journey has been dynamic, shaped by significant mergers and a pivotal spin-off. Initially a public entity in 2011, its structure was fundamentally altered by a 2017 acquisition, leading to a period of concentrated control by its parent entity.
| Event | Date | Impact on Ownership |
|---|---|---|
| Angie's List IPO | 2011 | Became a publicly traded company |
| HomeAdvisor Acquisition of Angie's List | October 2, 2017 | Formation of ANGI Homeservices Inc.; IAC became majority shareholder |
| Rebranding to Angi Inc. | Post-2017 | Continued majority ownership by IAC |
| Spin-off from IAC | April 1, 2025 | Angi became an independent public company; elimination of dual-class share structure |
Before its complete independence, Angi Inc. was largely controlled by IAC, which held a significant majority of both economic and voting interests. This was primarily due to a dual-class share structure where IAC possessed all Class B shares, each carrying ten votes, while the publicly traded Class A shares had one vote each. This concentration of power shifted dramatically on April 1, 2025, when IAC distributed its entire stake in Angi to its own shareholders. This strategic move not only made Angi a standalone public company but also unified its voting structure to a one-share-one-vote system.
Angi's Shareholder Landscape Post-Spin-Off
Following its separation from its former parent company, Angi Inc. is now broadly held by a diverse group of institutional and individual investors. The company's transition to an independent entity has reshaped its shareholder base.
- As of August 15, 2025, Angi Inc. has 383 institutional owners and shareholders.
- These entities collectively manage 44,420,700 shares.
- Key institutional investors as of June 30, 2025, include BlackRock, Inc. and Vanguard Group Inc.
- Insider holdings represented a notable portion of ownership, fluctuating between 9.85% in January 2025 and 10.41% by March 2025.
- The spin-off effectively established Angi as a public company with a unified share structure, impacting its Angi founder and ownership history.
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Who Sits on Angi’s Board?
The governance of Angi Inc. is overseen by a board of directors, with key leadership roles held by Joey Levin as Executive Chairman and Jeffrey W. Kip as Chief Executive Officer and Director. Angie Hicks Bowman, a co-founder, also serves on the board as Chief Customer Officer. The board is further strengthened by several independent directors, contributing diverse expertise to the company's strategic direction.
| Director Name | Role |
|---|---|
| Joey Levin | Executive Chairman |
| Jeffrey W. Kip | Chief Executive Officer and Director |
| Angie Hicks Bowman | Chief Customer Officer and Director |
| Thomas Evans | Director |
| Glenn Schiffman | Director |
| Jeremy Philips | Director |
| Alesia Haas | Director |
| Thomas Pickett | Director |
| Suzy Welch | Director |
| Sandra Hurse | Director |
A significant shift in Angi's corporate structure occurred on April 1, 2025, with the completion of its spin-off from IAC. This event led to the elimination of Angi's previous dual-class voting structure. Prior to this, IAC held considerable voting power through its ownership of Class B common stock, which carried ten votes per share, contrasting with the single vote of Class A common stock. Following the spin-off, all high-vote shares were converted to low-vote shares, establishing a uniform one-share-one-vote common stock structure. This fundamental change ensures that each share of common stock now possesses equal voting rights, thereby rebalancing voting power among all shareholders and removing the disproportionate influence previously held by the former parent company. This move is intended to enhance equity attractiveness and broaden the influence of diverse shareholder interests in corporate decision-making, impacting Angi ownership dynamics.
Voting Power Realignment
The transition to a one-share-one-vote system marks a pivotal moment for Angi's corporate governance. This structural change directly impacts Angi stock ownership and the influence of Angi shareholders.
- Elimination of dual-class stock structure
- All shares now carry equal voting rights
- Former parent company's voting control removed
- Enhanced shareholder equity
- Impact on Angi corporate structure explained
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What Recent Changes Have Shaped Angi’s Ownership Landscape?
The ownership landscape of Angi Inc. has undergone a significant transformation in recent years, marked by its complete separation from its former parent company. This strategic divestiture has repositioned Angi as an independent entity, reshaping its corporate structure and future trajectory.
| Event | Date | Details |
| Announcement of Spin-off Intent | November 2024 | IAC announced its intention to spin off its 85% ownership stake in Angi to its shareholders. |
| Completion of Spin-off | April 1, 2025 | Angi transitioned to an independent, publicly traded company, with IAC no longer holding direct control. |
| Leadership Transition | April 2024 | Jeff Kip appointed Angi CEO; Joey Levin transitioned to Executive Chairman of Angi. |
| Executive Changes | March 2025 | Kris Boon appointed Chief Product Officer; Chief Technology Officer Kulesh Shanmugasundaram departed. |
| Reverse Stock Split | March 24, 2025 | A 1-for-10 reverse stock split for Class A and Class B common stock became effective. |
| Share Issuance to IAC | Prior to Spin-off | Over 1.2 million Class A shares issued to IAC, valued at approximately $2 million, for equity award reimbursement. |
Following its separation from IAC, Angi Inc. is charting a course as a standalone public company. The company anticipates a year of steady improvement in service quality and robust profitability in 2025, with projections for revenue growth to resume in 2026 and an Adjusted EBITDA target between $135 million and $150 million for 2025. This newfound independence is expected to provide Angi with greater flexibility for strategic initiatives, including potential mergers and acquisitions, capital raising, and talent acquisition.
Institutional Ownership Dynamics
As of August 2025, Angi Inc. reported 383 institutional owners. Institutional holdings saw a significant shift, decreasing from 100.29% in January 2025 to 11.00% by March 2025, likely due to share redistribution post-spin-off.
Insider Holdings and Leadership Focus
Insider holdings experienced a slight decrease by March 2025 after reaching 9.85% in January 2025. Angi's leadership, including CEO Jeff Kip and Executive Chairman Joey Levin, is focused on driving incremental progress and profitability.
Strategic Outlook Post-Separation
Angi's strategic vision emphasizes leveraging its independent status to accelerate growth. The company aims to enhance service quality and achieve solid profitability, with an eye on future expansion opportunities.
Financial Targets and Growth Acceleration
The company has set an Adjusted EBITDA target of $135 million to $150 million for 2025. Angi expects its independent structure and improved equity currency to facilitate strategic growth initiatives, as detailed in our analysis of the Target Market of Angi.
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