$ANGI is going through a brand transformation to its fixed pricing model. Demand has been strong and growth was 120% YoY. 27% of Angi’s 4th quarter revenue came from their fixed pricing model up from 15% the prior year.

The home services industry has a massive 500bn TAM. Angi only has 5% market share, but they are leading the online industry in revenue, service requests, and they are the only national platform to offer a fixed pricing model.

Angi’s competitive advantage comes from its scale and the complexity of pricing these different tasks. Their strong cross-platform network effects between the number of homeowners and service pros and Angi’s dominant market position gives them a competitive advantage.

Angi management has stated the goal of pricing 500 different tasks in ~42,000 different zip codes. This is an extremely complex undertaking and Angi’s data advantage from their scale will give them the ability to accomplish this.

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