Connect with us

Hi, what are you looking for?

Jewish Business News


Angie’s List shares skyrocket 43% after report of Barry Diller’s IAC buyout


IAC’s home services marketplace, HomeAdvisor, owned by media mogul Barry Diller, and customer-review site Angie’s List confirmed they reached a deal values Angie’s List at more than $500 million, according to WSJ.

Shares of the e-commerce site skyrocketed 43 percent after The Wall Street Journal reported Monday that Angie is looking to combine with IAC’s HomeAdvisor to create a new publicly traded company.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The new company will be called ANGI Homeservices Inc., the companies said in a press release.

The deal brings to an end two years of wooing. In 2015 Barry Diller made a hostile $512 million bid for Angie’s List but was rejected. Angie’s List said the bid “dramatically undervalue” the company.

The combined company will enjoy a total of 22 million monthly visitors and 211,000 service providers. ANGI Homeservices made an about $17 billion in transaction value over the last 12 months for its service providers.

The deal Angie’s List shareholders have the option to get one Class A common share of the newly formed company or $8.50 in cash for each share they own. The cash payout would be capped at $130 million, with the deal expected to be completed in the fourth quarter.

IAC Chief Executive Officer Joey Levin told Bloomberg that the merger is key to the combined company’s transition from a recommendation platform to an on-demand marketplace.

“Home services is one of the last commerce categories where the vast majority of the market is still offline. That’s a huge opportunity,” Levin said.

The merger is expected to close in final quarter of this year. Afterward, IAC will own at about 90% of the stock of ANGI Homeservices’ equity value, depending on how many shareholders take the cash payout.

IAC says the combined company will have a target five-year compound annual growth rate of revenue between 20 percent to 25 percent and its target adjusted EBITDA margin will be about 35 percent.




You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.