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

Back to TopCommentsE-mailPrintBookmark and Share

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.

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. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.