Umbrella, the membership platform that connects the elderly to pre-screened and vetted professionals for household services, has been acquired by ANGI Homeservices (NASDAQ: ANGI). Terms of the transaction were not disclosed. “Since we started Umbrella at the end of 2017, our mission has been to build a better, simpler way for customers to take care of their homes. We are thrilled to be joining ANGI Homeservices — the combination of their tremendous scale and decades-long expertise with our consumer-forward product will allow us to accelerate that mission and build the industry-defining consumer subscription for the home,” remarked Lindsay Ullman, Umbrella CEO and cofounder. “This aim is more important than ever, as overnight, our homes have become our workplaces, our schools, and more. We expect this trend will only continue after COVID, and we look forward to making homeownership that much easier for millions of Americans.”
Since we started Umbrella at the end of 2017, our mission has been to build a better, simpler way for customers to take care of their homes. We are thrilled to be joining ANGI Homeservices — the combination of their tremendous scale and decades-long expertise with our consumer-forward product will allow us to accelerate that mission and build the industry-defining consumer subscription for the home – Lindsay Ullman
Umbrella was founded by Ullman, Ron Byrne, and Sam Gerstenzang in 2017. AlleyWatch published an exclusive interview covering the company’s seed and only funding round in 2019 – Umbrella Raises $5M as the Tech World Awakens to the Needs of the Increasing Elderly Population. Investors in the company include BoxGroup, Maveron, Thrive Capital, Collaborative Fund, Refactor Capital, TMV, Inspired Capital Partners, and Sidewalk Labs. The entire Umbrella team is joining ANGI Homeservices, which formed when Angie’s List merged with HomeAdvisor in 2017. ANGI Homeservices itself is a subsidiary of IAC and also operates MyHammer, Handy, HomeStars, Fixd Repair, CraftJack, mHelpDesk, Travuax, Instapro, MyBuilder, and Werkspot.”
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Source: https://www.alleywatch.com/2021/01/umbrella-acquired-by-angi-homeservices-iac-elderly/
