Angie's List, Inc.NASDAQ
Angie's List's Rising Competition Brings Critical Questions To Long-Term Investors
The Socially Responsible Investor
The Socially Responsible Investor
Tue, Nov. 1, 9:13 AM
Tue, Nov. 1, 7:45 AM
- Alongside a sizable miss in earnings, Angie's List (NASDAQ:ANGI) announces the hiring of consultants and bankers to explore strategic alternatives.
- Having removed the reviews paywall, total paid memberships are down 15% Y/Y to 2.77M. Total free memberships are at 1.74M (can't compare to a year ago, as they didn't exist). Overall memberships of 4.5M are up 39% Y/Y.
- Company intends to put in place another $15M-$20M of expense savings in Q4.
- Shares +10.5% in light premarket action.
- Conference call at 8:30 ET
- Previously: Angie's List misses by $0.14, misses on revenue (Nov. 1)
Tue, Nov. 1, 7:34 AM
Mon, Oct. 31, 5:30 PM
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Wed, Oct. 19, 12:38 PM
- In addition to enhancing social recommendation and event discovery features.
- Food ordering – available on restaurant pages integrated with Delivery.com or Slice
- Appointment request – book via a business page, confirmation communicated through Messenger
- Event ticketing – purchase of movie tickets powered by Fandango enabled directly on Pages; Ticketmaster and Eventbrite collaborations for other events further noted
- Quotes – request quotes from local businesses on participating business pages
- Facebook's (FB +1.1%) on a mission to simplify tasks that are often facilitated through multiple products with singular features (i.e. recommendations, food ordering, ticketing, local business quotes etc.) by streamlining them across its own integrated network of platforms.
- N.B. (NYSE:YELP), (NYSE:GRUB), (NASDAQ:ANGI)
- Blog post
- Previously (October 7): Facebook introduces dedicated events app
Fri, Oct. 7, 7:52 AM
- Evans will replace John Chuang, who resigned as chairman and from the board, effective Oct. 3. In addition, Steven Kapner has stepped down from the board, reducing the size to 10 from 12.
- Evans was CEO of Bankrate from 2004 through 2013, and served on the board.
Fri, Aug. 19, 3:00 PM
Wed, Jul. 27, 3:29 PM
- Angie's List (NASDAQ:ANGI) is up 12% and touching its highest point since early June after Q2 earnings posted a surprise profit and member numbers ramping after the company removed its ratings paywall.
- EBITDA came to $13.4M -- compared to consensus expectations for $3.9M and a swing from a year-ago EBITDA loss of $3.5M.
- Revenue breakout: Service provider (includes ads and e-commerce), $67.4M (down 4%); Membership, $15.6M (down 7%).
- The company says results from the paywall change are surpassing the already-strong metrics it saw in pilot tests, with about 700,000 new members since the wall came down. “We are very encouraged by the loyalty of our paid subscriber base,” says CEO Scott Durchslag. “In addition, we have a substantial opportunity to convert our new free members into premium subscribers over time."
- Compared to a year ago, the company said, new member signups are up 411%, unique new member visits are up 219%, unique new members searching the site are up 197%, and unique new members viewing profiles are up 182%.
- Total memberships are up 4% to 3.3M (new free memberships came to 152,586; paid memberships were down 1% to 3.15M).
- Press Release
Wed, Jul. 27, 7:38 AM
Tue, Jul. 26, 5:30 PM
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Wed, Apr. 20, 8:18 AM
- Company remains on track to remove reviews paywall by this summer. The freemium offering is being piloted in some markets, showing metrics higher across the board vs. control markets.
- Q1 adjusted EBITDA of $4.8M fell from $8.6M a year ago, with revenues about flat. Net loss of $4M vs. income of $4.4M. The fall in adjusted EBITDA came as the company spent money to try and reignite revenue growth.
- Total paid memberships of 3.3M up 7% Y/Y. Gross paid memberships added of 188K down 18%. First-year membership renewal rate of 73% up 20 basis points. Participating service providers of 54.9K up 1%. Total service provider contract value of $267M up 2%.
- Full-year revenue guidance of $345M-$355M is reiterated, along with adjusted EBITDA of $31M-$35M.
- Conference call at 8:30 ET
- Previously: Angie's List EPS of -$0.07 (April 20)
- ANGI -7% premarket
Wed, Apr. 20, 7:38 AM
- Angie's List (NASDAQ:ANGI): Q1 EPS of -$0.07 may not be comparable to consensus of $0.05.
- Revenue of $83.86M (+0.4% Y/Y) misses by $2.41M.
Tue, Apr. 19, 5:30 PM
Thu, Mar. 17, 12:00 PM
- Mike Sands, the co-founder and CEO of ad tech provider Signal, has joined Angie's List's (ANGI +1.3%) board. His addition comes after the local services marketplace struck a deal with activist TCS Capital to add three board members (with long-time director John Biddinger simultaneously exiting), and increases the board's size to 12.
- Scott Durschslag, just six months removed from being names Angie's CEO: "Since I’ve joined the company we’ve had a search underway to round out our Board with additional top technology and operating talent from some of the best companies in the world. Mike brings precisely these skills and expertise.”
- Two weeks ago: Angie's List offers light guidance, plans to remove reviews paywall
Thu, Mar. 3, 10:59 AM
- A day after stating it has come to terms with activist TCS Capital, Angie's List (ANGI +1.4%) announces (in tandem with its investor day) it expects 2016 revenue of $345M-$355M, below a $361.6M consensus and up slightly from 2015's $344.1M.
- Adjusted EBITDA is expected to rise to $31M-$35M from 2015's $28M, and free cash flow is expected to be close to breakeven.
- Meanwhile, in a move meant to help the better compete against Yelp (YELP -1.2%) and other free local reviews providers, Angie's says it plans to remove its ratings/reviews paywall, and introduce "new freemium and premium tiered offerings with additional high value services."
- Both features are expected to begin arriving in Q2. Angie's claims early test results "have shown significant increases in consumer engagement and service provider value, including increases in consumer registrations, total profile views, reviews and originations."
- The company is aiming for 2020 revenue of $750M and adjusted EBITDA of $150M. It plans to focus ion strengthening/repositioning its core business in 2016, better leveraging its home service platform (including via value-added services) in 2017-2018, and expanding to "adjacencies" in 2019-2020.
Tue, Mar. 1, 8:40 AM
- TCS Capital head Eric Semler, along with consumer technology and media veterans George Bell and Tom Evans have been appointed to the Angie's List (NASDAQ:ANGI) board as part of the agreement.
- Exiting the board after ten years will be John Biddinger.
- After the moves, the board size will have increased to 11 from nine, with nine of those 11 being independent and having joined within the last five years.
- There's naturally a standstill agreement limiting TCS Capital to no more than a 12.75% stake in the company (not far above where it is right now).
- Previously: Source: Angie's List activist could land four board seats as part of settlement (Dec. 23, 2015)