International sales increased an even faster 30%. The company also reported a record profit of $857 million during the second quarter and accelerated expansions ...
Home Depot acquires the operator of a web site for finding home service providers.
The Home Depot Inc.’s new acquisition is designed to make it easier for consumers to use the web and e-commerce to find a repair service, handyman or building contractor.
Home Depot, No. 43 in the Internet Retailer Top 500 Guide has acquired Red Beacon Inc. for an undisclosed amount. The company owns and operates RedBeacon.com, a free online home services platform where professional contractors bid against each other for consumers' home maintenance, repair and renovation needs.
Since launching in San Francisco in 2009, Red Beacon has expanded its bid platform to eight regional housing markets: Atlanta; San Francisco Bay; New York, Chicago; Los Angeles; Washington, DC; Seattle and Houston. “Red Beacon helps homeowners maintain and build upon the value of their most precious asset by connecting them with qualified local service professionals,” says Home Depot.
Red Beacon will maintain its current headquarters in San Francisco and the company’s management team, including CEO Anthony Rodio, will remain in place, says Home Depot.
Red Beacon and Home Depot provided few details on where a home services platform fits into Home Depot’s evolving e-commerce plans. The companies also didn’t disclose any of Red Beacon’s financial information or how many contractors and consumers have signed on to use the bidding platform. Along with expanding into more regional markets in 2011, Red Beacon also rolled out a mobile apps program last year in addition to a web site redesign and a guaranteed referral program.