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CEO of Angie's List and HomeAdvisor Parent: We're Investing for the Long Haul

Eric Jhonsa

is comfortable making business decisions that weigh on this year's profits if they put the company on better long-term footing and help customers get more value from its platforms, CEO Brandon Ridenour said following his company's latest earnings report. The revenue miss followed a Q1 decision -- explained in IAC's Q1 shareholder letter -- to cut marketing spending that was producing $50 million in annualized revenue via service requests, after ANGI concluded the requests weren't leading to enough jobs for home service providers. In spite of the revenue miss, ANGI reiterated full-year guidance for 25% revenue growth.