| About ServiceMagic: |
ServiceMagic®, Inc. is the nation's leading online marketplace connecting homeowners with prescreened and customer-rated contractors and home service professionals. The company uses its proprietary technology to match consumers' service requests with local service professionals and facilitates connection and information exchange between the parties. The company's more than 52,000 member businesses are prescreened to help consumers connect with licensed, insured and credible service professionals. See more in our 10-point screening process. |
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Executive
Management: |
Craig Smith, Chief Executive Officer
Rodney Rice, Co-Founder and Co-Chairman
Michael J. Beaudoin, Co-Founder and Co-Chairman
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| History: |
• ServiceMagic was founded in December 1998; the Web site
(www.servicemagic.com) went live in October 1999.
• ServiceMagic raised more than $48 million to fund its development, launch
and initial operations.
• ServiceMagic achieved profitability in 2003 with approximately $20M in
revenues.
• In July 2004, IAC/InterActiveCorp (Nasdaq: IACI) announced its agreement
to acquire ServiceMagic. The acquisition closed in September 2004.
• ServiceMagic operates as an independent operating subsidiary within the
IAC Local and Media Services Group.
• Some of the companies under the IAC umbrella include: LendingTree,
HSN, Evite, Citysearch, Ask Jeeves and a host of other interactive
companies. |
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| Key Data: |
• Over three million unique visitors to ServiceMagic's Web site each month.
• An average of nearly 300,000 consumer service requests each month.
• More than 52,000 member businesses are in ServiceMagic's national
network. |
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| Revenue Model: |
• The service is free to consumers.
• ServiceMagic generates its revenue through lead fees from member service
professionals; they only pay for the leads they receive. Lead fees range from
$5 - $55 (depending on the type of job) and there are no monthly membership
fees, long-term commitments or success fees when a service professional
wins or completes a project. |
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| Service Areas: |
ServiceMagic currently operates nationally. |
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| Service Guarantee: |
ServiceMagic offers a problem resolution service and a $500 Service Guarantee to
consumers for unsatisfactory experiences that cannot be resolved with member businesses. |
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| Recognition: |
• ServiceMagic was ranked #60 on the 2004 Inc. 500 list, with a five year
average annual sales growth of 422%.
• ServiceMagic was ranked #2 on the Deloitte & Touche Colorado Fast 50 list,
with a revenue growth rate of 5500% over five years.
• IAC was ranked #325 on the 2005 Fortune 500 list. |
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| Headquarters: |
14023 Denver West Parkway, Golden, Colo. 80401 |
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| Satellite Operations Center: |
15405 College Blvd, Lenexa, Kan. 66219 |
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| Website: |
www.servicemagic.com |
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| Employees: |
ServiceMagic currently employs more than 850 people in the Denver and Kansas City metro areas. |
© Copyright 1999-2008, ServiceMagic, Inc. All Rights Reserved.
