Angie’s List prices shares at $13 for stock offering

Back to TopCommentsE-mailPrintBookmark and Share

Angie’s List Inc. CEO William Oesterle is among the biggest sellers of company stock in a secondary offering that has been priced at $13 per share.

The Indianapolis-based company said in a public filing Tuesday that it plans to sell 8.4 million shares in the offering.

The company is selling 703,235 shares of the common stock, while company stockholders are selling the remainder.

Proceeds from the sale of the company's shares will be used to finance the company’s advertising campaign to drive membership growth and for general corporate purposes, including working capital.

Oesterle is selling 220,641 shares, and board member John Biddinger is selling 125,930 shares, according to the filing.

Scott Brenton, the company’s former chief operating officer, who left in April to join One Click Ventures LLC in Greenwood, is selling 314,826 shares.

Several investment firms also are shedding stock, including locally based City Investment Group LLC, an affiliate of City Securities Corp., which is selling 125,930 shares.
The largest seller is Boston-based venture capital firm Battery Ventures, which is unloading 3.8 million shares.

Angie’s List announced its intention to sell the shares on May 2. The company said in the filing that the offering will help increase its “public float.” Too many shares owned by insiders makes it difficult to have an active market for buyers and sellers of a company stock.

Angie’s List staged its initial public offering in mid-November, raising $114 million. The company sold 8.8 million shares for $13 each. The stock traded as high as $18.75 on the opening day but since has fallen back, opening at $13.14 Wednesday morning.

The company provides its members online consumer reviews of plumbers, electricians and other service providers.

Angie’s List lost nearly $13.5 million in the first three months of 2012 on revenue of $31.1 million.


  • I want my money back
    The city and state have poured in millions into Al and his buddy Bill. I think both entities should be repayed before the ownership reaps the benefits from raping the company. If the state has any money in AL than Murdock should resign and quit his run for senate. In otherwords let Chrysler go down, but prop up a phony company. yeah rah Mitch.
  • ???????
    Only in crony capitalistic times can a CEO, CMO, and COO walk away multimillionaires and none of them could make that company profitable in 16 years. I want that tax break paid back before Bill runs away.
  • What are they going do with that income?
    Still doing national advertising on the Rush Limbaugh show. No thanks, Angie; methinks I know where you also spend your political contributions!
  • Who is buying?
    If there is anyone out there that thinks this is a good investment please let us in on the secret. 700,000 company shares will buy about 2 months of advertising for the company. What happens when the marketing money runs out and memberships dry up? Short this stock today.
  • Oops
    Every single one of the "shares being sold" figures is wrong. The numbers in the article came from the "Repurchase of Common and Preferred Stock" section of the filing. The correct numbers are listed in the "Principal and Selling Stockholders" section.
  • Who is Shorting The Stock?
    This is going to be interesting...


  • Fraudville
    Anyone notice it has been nonstop white collar crime since Daniels (who looted IPL) entered office? Just wait till he's gone and other things come out. Like where the $200 million really went
  • Are Hoosiers Unwitting Investors?
    Let me guess, Richard Mourdock thinks this is a great investment for Indiana treasury?

    Maybe Governor Daniels should be asked about public pension funds being used to support his campaign manager?
  • Red Flag
    Why would ANYONE buy this?!!!! Usually board members continually BUY stock when they have confidence in the company. One guy selling his shares already left the company! WOW!

    Sidenote - the services of angieslist are obsolete and have been since inception
  • Rats Off a Sinking Ship
    I guess if someone is dumb enough to buy the shares......
  • Escape pod?
    If the point is to raise operating revenue for the company, it's interesting that the company is only offering 700,000 shares, while executives and private investors are looking to sell nearly 2,500,000 shares. Has the writing on the wall become too large to shield from the general public for much longer?

Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. Angela IS the best RD

  2. We are a nation of speed. All of our younger lives are filled with deadlines, quotas and bottom lines. We start to ease out of the pressured rat-race when we finally see "retirement." The most enjoyable travel on the planet is passenger rail service. Indy to Chicago does not beat Megabus or Southwest Airlines in speed. Passenger rail however has the best seating, mammoth legroon, seat backs that recline to more than 45 degrees and employers that really want you to return as a customer. Indiana municipalities need to maintain subsidies to support this transportation mode. Losing it is loss for all of us.

  3. Good day! I just want to testify how i got my loan from Mr. Eric Lefkofsky after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan. Until a friend of mine introduce me to this popular Mr. Eric Lefkofsky who promised to help me and indeed he did as he promised without any form of delay. I never thought there are still reliable loan lenders until i met Mr. Eric lefkofsky who indeed helped me with the loan and changed my belief. I promised to share this testimony after I got my loan. I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr. Eric Lefkofsky via their email{grouponfunding@hotmail.com}

  4. Its a THUG issue. Bleecker Street and NYX are thug bars. They attract thugs of all races. Places that attract thugs need to be kicked out of Broad Ripple. Ain't nobody got time for that!

  5. Hello everyone, My name is Marian Gareth, I am from the Texas, United State, am here to testify of how i got my loan from Mr Andre Frank {frankloancompany@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right in this forum,i thought their lending where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Andre Frank the C.E.O of Andre Frank Loan Company who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Andre Frank, who really help me with my loan and changed my lief for better. I don't know if you are in need of an urgent loan, free feel to contact Mr Andre Frank on his email{ Frankloancompany@yahoo.com} for help