Angi Inc. (NASDAQ:ANGI) Q4 2023 Earnings Call Transcript

Joey Levin: Well, I’m glad you raised it. We didn’t talk about Vivian at all. But Vivian is a good growing product and business. I mean, it’s kind of amazing what the business has done. Continues to grow. Continues to grow very healthily in a market that is shrinking dramatically. So the – not many people are familiar with Vivian, so let me just explain what they do. They’re in matching nurses with jobs. They have focused primarily on the travel nurse category, which turned out to be a very big category, especially during the pandemic. Still is a very big category, but the growth in that category – or that category shrank a lot post pandemic. Still bigger than what it was pre-pandemic, but it shrank off. Throughout that whole period, Vivian has been growing.

And the reason Vivian has been growing is because they have an incredible concentration of the available nurses in the market using the platform, actively using the platform, building profiles on the platform, looking for jobs. And while the – there’s been some near-term volatility in that market with the pandemic and the need for nurses in hospitals and facilities, the supply-demand imbalance is still enormous, meaning, there are many more facilities that need nurses than there are nurses available to do those jobs. And so Vivian, I think, is very well positioned there. Parth Bhakta, who runs that business – who founded and runs that business is a phenomenal entrepreneur and has done a wonderful job growing and building through that. And we think that business has a lot of potential.

Where it goes from here, we’ll see. But it is a – the execution so far has been really tremendous in a fun, small business. Not moving the needle for IAC, but since you asked about it, we do like that one in the emerging category.

Brent Thill: Thanks.

Joey Levin: Thank you.

Christopher Halpin: Thank you all for your participation this morning. Operator, that’s it.

Joey Levin: Thank you. Bye-bye.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.