Angie's List aims for $66 million with public offering

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Consumer review website Angie's List Inc. said Wednesday that it expects to raise roughly $66.4 million with its initial public offering and price its shares between $11 and $13.

The Indianapolis company's shares will trade on NASDAQ under the ticker symbol ANGI.

Angie's List first announced the planned offering in August and said at the time that it hoped to raise up to $75 million.

The company said in the latest filing that expects to sell 6.25 million shares, with about 2.5 million to be sold by current stockholders. The company won't get any of the money from the shares sold by current stockholders.

The offering could raise as much as $81.1 million if its underwriters exercise their option to sell extra shares.

The company said it will use the money for advertising to get new members, and for general corporate purposes.

Angie's List said it plans to continue aggressively investing in national advertising to deepen its market penetration, particularly in New York and Los Angeles. It has also said it is expanding into new categories. It started by focusing on home improvement services, and now covers categories such as health and car restoration.

As IBJ reported Tuesday, Angie's List lost $43.2 million in the first nine months of this year, a 59-percent increase over the same time period of 2010.


  • Mayor's Buddies
    Use it for Advertising... That is comforting if you are an investor.

    This company is about as useful as a Thick Yellow Page Phone Book v. Someone simply going the business online.

    This business model is highly flawed and is rich in the red. So blown away that Mitch and his buddy Ballard are giving $ so this failed business model can buy real estate? IF I AM AN INVESTOR MY FIRST QUESTION IS WHY OWN THE REAL ESTATE NOW AT THIS POINT.

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  1. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

  2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

  3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

  4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

  5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.