Handy’s founder Oisin Hanrahan is a man on a mission. As CEO, he plans to grow the company by increasing the number of services it offers. Today, the company is worth $500 million and has recently secured $50 million in additional funding. Hanrahan was speaking at the Web Summit organized by his old time friend and business partner Paddy Cosgrave. The two studied together in college at Dublin and later started two successful organizations, MiCandidate and Undergratuate Awards.
Oisin Hanrahan explained that back in college, he spent almost three years working in Hungary. This is where the idea for providing home services came to him. Later while working in London for a taxi services company, the idea of using the on-demand platform to offer home services was planted. However, Harahan would only revisit the idea while studying for his masters in Harvard. Together with his roommate, Hanrahan sought seed capital, dropped out of college and left to start Handybook in New York City.
Handy has a competitive advantage over its closest rivals because it is big and enjoys large economies of scale. It has reduced overhead costs and faces lower costs of attracting and retaining clients. Handy balances its customers and contractors efficiently. They run a flexible system that allows all the 10,000 contractors under Handy to get jobs.
Handy was started back in 2012 by Oisin Hanrahan and his roommate Umang Dua. It operates on two sides of the market in that it provides people with home and handymen services while connecting contractors with customers. The company manages 10,000 contractors with a team of 160 employees.
Handy has quickly grown into a premier on-demand company offering home services. It recently started a platform that allows clients to purchase furniture and have Handy deliver and also assemble it in their homes. Handy aims to offer more services to clients as it grows and consolidates its market share.