September 22, 2018

Angie’s List Files For IPO

Angie’s List, an Indianapolis-based consumer website that provides consumer reviews of local service companies such as contractors and doctors, filed an initial public offering on Thursday. The company is looking to raise $75 million.

Founded in 1995 by Angie Hicks and Bill Oesterie, it has about 820,00 subscribers in 170 markets across the United States, posting an average of 40,000 reviews a month. The website works on a registered subscription basis, ensuring only unbiased reviews.

Angie’s List is not yet seeing a profit: even though Revenue increased by 40.5 percent to $38.6 million in the first half of 2011, it had a loss of $25.8 million. With marketing expenses on the rise, the filing states that the company intends to increase advertising spending, using money raised to “fund our advertising strategy to drive membership growth and for general corporate purposed, including working capital.”

The lead underwriter of the IPO will be Bank of America Merrill Lynch, Also participating are Allen & Company, Stifel Nicolaus Weisel, RBC Capital Markets, Janney Montgomery Scott, Oppenheimer & Co, ThinkEquity and CODE Advisors.

Read More:

Techcrunch Article

Dealbook Article

SEC S-1 Filing

Angie’s List

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