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Angie's List acquires Denver firm for $2.7 million

August 5, 2013
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Indianapolis-based Angie’s List Inc. announced Monday that it has acquired Denver-based tech startup BrightNest for at least $2.15 million in cash.

BrightNest, founded in 2011, provides free online tips for home maintenance to about 100,000 users. The company’s eight employees will remain based in Denver.

BrightNest is getting $2.65 million in cash, including $2.15 million that was paid at closing last Friday. Another $500,000 is payable in a year, subject to performance targets. BrightNest owners also will receive options to acquire $3.65 million in Angie's List stock..

"The acquisition of BrightNest fits well with our strategic objective to develop tools and create a user experience that makes it easier for our members to care for their homes,” said Bill Oesterle, Angie’s List CEO, in a prepared statement. “BrightNest has been highly effective at driving member engagement, and we believe this combination will further accelerate our innovation of user-friendly tools."

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  • Just Add Value...
    Good purchase. This is the type of SaaS Angie's List needs to have in its stable. Now tighten up the reviews and add transparency. Add more written content, this is key. Build/buy a good SOA for tracking car fuel consumption and maintenance costs. Then simply rinse and repeat this (build/buy) across other verticals WHILE adding complementary written content with each vertical. - http://goo.gl/p5w6nj

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