Amazon founder and CEO Jeff Bezos Joshua Roberts/Reuters
Back in 2014, Amazon did what Amazon does, and launched a completely new business called Amazon Services, a marketplace for finding home and business professionals, directly competing with Angie's List and HomeAdvisor.
By 2015, Angie's List was struggling. Growth had stalled and quarterly revenues declined, the stock price crashed to a low of $3.73. By the next year, with no real growth in site and the stock hovering in the mid $5, Angie's List accepted a buyout offer from its hated rival, HomeAdvisor, and in late 2017, the two companies merged.
During that same period, HomeAdvisor was also competing against Amazon, as well as its better known rival Angie's List. And it was thriving, CEO Chris Terrill tells us.
Between the years 2010 and 2014, before Amazon entered the market, HomeAdvisor had about 6 million service requests per year, Terrill says. In 2015, after Amazon, service Read more