Angie's List parent company acquires Handy
ANGI Homeservices, the parent company of Angie's List's and HomeAdvisors, is acquiring Handy, a New York-based startup that provides cleaning and other home services.
Why it matters: Unlike one-time rival Homejoy, Handy has been able to stay afloat for several years despite criticism of its use of independent contractors (and even a lawsuit,) and even turning a profit last year.
What they're saying: "We gotta figure out a way to give people access to benefits, access to training," while also keeping the flexibility Handy's contractors have with their work, Handy CEO Oisin Hanrahan told Axios. Handy has advocating for so-called "portable benefits" that would enable independent contractors to have benefits that are not tied to a single employer.
- Asked if the company was considering making some or all of its workers into full employees, Hanrahan said "it's too early to have these conversations."
- The companies declined to disclose an acquisition price. Handy has raised about $115 million in total funding, and Pitchbook pegs its last valuation at about $360 million.