Despite net losses, more people using Angie's List
Posted on Thursday, July 25, 2013 at 12:55:28 PM
Homeowners looking for ways to use their home improvement financing may turn to websites like Angie's List to provide listings about potential services.
This site compiles reviews from a number of consumers, all of which have to pay to post in order to maintain integrity. Despite an increase in membership, Angie's List reported a net loss for the second quarter, continuing a string of months in the red.
Even with the overall negative numbers for the site, recent gains are up, but they aren't enough to offset its current debt. More people are now using the site to help with home improvements, and Angie's List noted a 51 percent increase in total paid memberships over 2012's second quarter.
"We are reporting record levels for memberships added, service provider revenue and total revenue, as well as continued efficiencies in our cost per member acquired," Bill Oesterle, CEO of Angie's List, said in the news release. "We achieved these results while simultaneously improving our operating leverage and producing cash flow."
While the site is great for people with home improvement financing, some renovations don't provide the boost to home equity one might think. Expensive changes might not appeal to everyone, while a swimming pool may hurt during a re-sale, according to Nolo. Sites like Angie's List can help find the best methods for fixing up a home.