Durchslag replaces Bill Oesterle, the longtime CEO who said in April that he was stepping down from theIndianapolis-based company to pursue state politics, following passage of a controversial state law, the Religious Freedom Restoration Act. Opponents say the law supports discrimination against gay, lesbian, bisexual and transgender people.
The company, known for letting its members review local businesses, has recorded only a handful of profitable quarters and its shares have lagged below the price of its initial public offering in 2011.
The company, which was founded in 1995 and has about 3.2 million paid members, has been shifting from its origins as an online review site to a marketplace that helps customers find everything from chimney sweepers to plumbers. It generates the bulk of its revenue by taking a cut of these transactions and from advertising.
He sees partnerships as one area for expansion. Angie’s List has deals with insurance provider Allstate, paint company Benjamin Moore and Shaw, the carpet manufacturer, but could do more, Durchslag said. Angie’s List can also tap customer data to make its service more personalized, he added.
Angie’s List (ANGI) faces new competition from Google (GOOG) and Amazon.com (AMZN), as well as upstarts such as Thumbtack, which has a marketplace matching local services to customers.
“There’s a massive learning curve that goes into this kind of thing,” he said.
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