IAC's home services model goes deeper in Europe with fifth non-US acquisition
NEW YORK, March 27, 2017 /PRNewswire/ -- HomeAdvisor, an IAC (NASDAQ: IAC) company and operator of the largest home services marketplaces across the globe, today announced that it has acquired MyBuilder, a leading home services platform connecting homeowners and tradesmen in the United Kingdom. The MyBuilder purchase follows HomeAdvisor's recent acquisition of Canada's HomeStars in February, and Germany's MyHammer last year. Terms of the deal were not disclosed.
"By providing vetted, quality tradesmen and delivering extremely high customer satisfaction with its product, MyBuilder has rapidly grown into one of the UK's home services market leaders," said Jeff Kip, CEO of HomeAdvisor International. "We could not be happier to add founder Ryan Notz and the entire MyBuilder team to the HomeAdvisor family."
With the acquisition, HomeAdvisor has added MyBuilder to its market leading platforms in Germany (MyHammer), France (Travaux.com), the Netherlands (Werkspot), and Canada (HomeStars), and the number three – but fastest growing – player in Italy (Instapro).
Launched in 2008, MyBuilder is one of the UK's largest online marketplaces for homeowners to discover vetted, quality tradesmen. Its platform emphasizes accountability through feedback, allowing homeowners to view a tradesman's entire work history and read verified reviews from previous clients. More than 25,000 tradesmen actively use the MyBuilder platform, which sees consumers post more than 60,000 jobs every month. The UK market for home services is estimated at $60 to $70 billion in size, approximately 15% of the total European market.
"MyBuilder is a labour of love because I'm a former tradesman myself. Before I started the company, I wished I had something like this to help me get the right kind of work, when I needed it. But it makes me even happier to be able to help thousands of other tradespeople up and down the country," said Ryan Notz, Founder and CEO of MyBuilder. "I'm very proud of what we have achieved to date, in particular the quality of our trade network, the enthusiasm with which our tradespeople use MyBuilder, and the happy homeowners who come back to us again and again when they need work done on their homes."
Continued Notz, "I'm a great admirer of the strong leadership position HomeAdvisor has built in both North America and Europe. They are the perfect partners to help take MyBuilder to the next level in the UK."
HomeAdvisor's global business continues to grow. Last month, HomeAdvisor's parent company, IAC, released its fourth quarter 2016 results, which saw HomeAdvisor revenue grow 35 percent year over year, driven in part by a 27 percent rise in international revenue. Last year saw HomeAdvisor reach nearly half a billion dollars in revenue. Full results and a letter to shareholders from IAC CEO Joey Levin can be found at www.iac.com/Investors.
About HomeAdvisor and HomeAdvisor International
Owned and operated by IAC, HomeAdvisor is the leading home services marketplace in North America, and, through its HomeAdvisor International operating arm, the leading European home services marketplace. HomeAdvisor International operates in six countries through five leading brands: MyBuilder in the United Kingdom; MyHammer in Germany and Austria; Travaux.com in France; Werkspot in the Netherlands; and Instapro in Italy.
MyBuilder is an online marketplace that helps homeowners find high quality tradespeople, with a mission to change the building industry for good. Based on a principle of accountability through feedback, MyBuilder's unique system makes finding quality tradesmen easier and helps quality builders to find better work. Around 25,000 tradespeople use the site, over 60,000 jobs are posted every month, and 2.5 million jobs have been posted to date.
IAC Investor Relations
IAC Corporate Communications
HomeAdvisor US Corporate Communications
SOURCE IAC and HomeAdvisor International