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ABOUT SERVICEMAGIC
ServiceMagic®, Inc., headquartered in Golden, Colo., is the leading online marketplace connecting homeowners with prescreened and customer - rated home service professionals. The company is revolutionizing how people buy and sell home services by creating a better connection between consumers and prescreened, customer - rated businesses matched to their needs and interested in their requests.
ServiceMagic uses its proprietary technology to match consumers' service requests with local service professionals in real time, addressing more than 500 different home service needs that range from simple home repairs and maintenance to complete home remodeling projects. All 26,000 ServiceMagic member businesses are prescreened to ensure consumers are connected with licensed, insured and credible service professionals.
In addition to the free, easy-to-use service, consumers have access to ServiceMagic’s extensive and reliable online HomeFront Library that includes tips, guides and expert advice on hundreds of home-related topics. With more than 1,200 articles, the HomeFront Library provides consumers one of the largest and most comprehensive online resources available on home services.
To date, the company has facilitated more than 3 million consumer requests for home services, representing an estimated $7.5 billion in consumer spending. ServiceMagic is an operating business of IAC/InterActiveCorp (Nasdaq: IACI). Some of the companies under the IAC umbrella include: LendingTree, Expedia, Hotels.com, Hotwire.com, HSN, Evite, Citysearch, Entertainment Publications and a host of other interactive companies.
HISTORY
In 1998, company co-founders Rodney Rice and Michael Beaudoin recognized the need for a more efficient way for homeowners to find and connect to quality service professionals. Yellow page advertisements and other direct marketing were the primary media used to advertise and find home services. However, these methods required consumers to spend significant time calling professionals, following up to coordinate meetings and conducting background checks to ensure they were licensed, insured and credible. Additionally, contractors spent thousands of dollars on yellow page advertisements and other marketing to reach consumers, which offered a low return on investment and no way to target their businesses to specific types of work or locations. The types of leads generated from these sources were expensive and resulted in professionals wasting time driving all over town and bidding on projects, many of which were not focused on their specialty or in their preferred geographic territory.
With the Internet quickly becoming a primary consumer research tool, Rodney and Michael founded ServiceMagic in December 1998 and began building a network of qualified, skilled, licensed and insured home service providers to help consumers find the right professionals in their area. The company’s Web site (www.servicemagic.com) went live in October 1999. The service provides consumers an efficient and easy way to find home service professionals and is the most cost effective way for professionals to find new customers.
In September 2004, IAC acquired ServiceMagic; the company operates as an independent brand within the IAC Local and Media Services Group.
Benefits to Consumers
- The service is free.
- Saves time and stress associated with locating a licensed, insured and customer-rated service professional.
- Access to detailed information on service professionals background, services and previous customer ratings and reviews.
- Educational information is available in the HomeFront Library, including tips, guides and expert advice specific to the consumer's service needs.
| Benefits to Service Professionals
- Targeted leads for preferred locations and types of work.
- Only pay for leads they receive, no fixed costs or contracts.
- Less time and money spent on marketing to secure new clients.
- Automated instant connections with prospects.
- Credibility from ServiceMagic membership and customer Ratings & Reviews.
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