Colorado-based HomeAdvisor Inc. has solidified plans to expand in downtown Indianapolis. The online home services marketplace intends to more than triple the size of its current central Indiana work force with the addition of 170 jobs in the coming months. In a June interview on Inside INdiana Business Television, Chief Executive Officer Chris Terrill alluded to the scope of the growth and said the 70-member Indy office had quickly become the company’s most productive since opening in February. He told host Gerry Dick, "we had always really looked at Indy."
The subsidiary of New York City-based IAC/InterActive (Nasdaq: IACI) says it will invest $1.9 million to expand its current space near Bankers Life Fieldhouse and open an additional office in the city’s Mass Ave District. The work is expected to be complete in March.
President Craig Smith says "our Indianapolis team offers unrivaled talent and energy – and we look forward to expanding our presence in the Hoosier state. With domestic revenue up 39 percent year over year, the company is on an incredible trajectory. The opportunity for employees to grow and succeed is significant."
HomeAdvisor is headquartered in Denver and has additional offices in Colorado Springs, Golden, Kansas City and New York City. Its current work force totals 2,000 and Indianapolis is the only city outside of Colorado where the company has multiple offices.
Up to $1.25 million in conditional tax credits have been offered to HomeAdvisor through the Indiana Economic Development Corp.
For consumers and employees within the sector, the story of the Indianapolis online home services scene continues to become more complex. On Monday, Amazon (Nasdaq: AMZN) Home Services, a competitor of both HomeAdvisor and Indianapolis-based Angie’s List Inc. (Nasdaq: ANGI), named Indianapolis one of 20 markets where it was expanding. Late last month, Angie’s List announced an unspecified number of job cuts related to a strategy to save $20 million. Angie’s List in July removed its longstanding paywall for online reviews and has since reported a surge in new members. The company’s most recent earnings report detailed a quarterly net loss of $16.8 million and announced a partnership investment bankers to "explore strategic alternatives" for the future. HomeAdvisor’s parent, IAC made an unsolicited, $512 million offer to acquire Angie’s List late last year, a move that was rejected by the Angie’s List board.