MyHammer

About MyHammer

MyHammer operates as an online marketplace headquartered in Berlin, facilitating connections between private and commercial users and tradespeople in Germany and Austria. The company's origins trace back to 1996 when Ingo Endemann founded Endemann!! Full Service Werbeagentur GmbH, which later evolved through several transformations, including becoming Abacho AG, a company running a web search engine portal. The My-Hammer Aktiengesellschaft subsidiary was officially established on January 1, 2005, with Markus Berger-de León listed as a founder.

The platform's business model primarily generates revenue through fixed, regular contributions from registered tradespeople. These professionals pay a membership fee, which was around €60 per month in 2017 after an initial starter period, to access and bid on jobs posted by homeowners. For homeowners and those posting jobs, the service is free to use. This structure creates a two-sided market that provides homeowners with a selection of vetted professionals and offers tradespeople a channel to secure work and build their reputation. Users can post a job, receive interest from tradespeople, and then select whom to contact based on profiles, work history, and customer ratings.

MyHammer has undergone significant ownership changes throughout its history. In 2007, the Holtzbrinck publishing group acquired a majority stake. A pivotal moment occurred in October 2016 when HomeAdvisor, a subsidiary of the US-based IAC (InterActiveCorp), acquired the majority stake from both Holtzbrinck Digital and Global Founders Capital. This acquisition made MyHammer part of a larger European network of home service marketplaces, including Travaux.com in France and Werkspot.nl in the Netherlands. Following this, MyHammer Holding AG initiated a delisting from the Frankfurt Stock Exchange in 2021. By June 2022, Instapro II AG, another entity within the IAC and HomeAdvisor ecosystem, took over MyHammer Holding AG, further integrating it into the group now known as Angi Inc.