Angie’s List Inc., the Indianapolis-based consumer-review service with more than 1 million paying members, raised about
$114 million in its initial public offering Wednesday after pricing the shares at the top end of the proposed range.
The company sold 8.8 million shares for $13 apiece, according to data compiled by Bloomberg, after offering them for $11
to $13. Angie’s List will trade on the NASDAQ Stock Market under the symbol ANGI.
Angie’s List, which provides reviews of plumbers, electricians and other service providers, may benefit from the success
of Internet peer Groupon Inc.’s IPO this month. The Chicago-based online-coupon leader raised $700 million Nov. 3, 30
percent more than it sought, after pricing the shares above the marketed range. The stock surged 31 percent in its trading
debut and is up 20 percent since the IPO.
At the midpoint price of $12, Angie’s List would be valued at $667 million. Revenue at Angie’s List increased
46 percent, to $62.6 million, in the nine months ended Sept. 30, compared with the year-earlier period, the filing shows.
Its net loss widened to $43.2 million from about $19 million.
The company planned to sell about 6.3 million shares in the offering, with the remaining 2.5 million sold by existing shareholders,
according to the prospectus. Battery Ventures had planned to reduce its stake to 15 percent from 18 percent, while BV Capital
was paring its stake to 9.3 percent from 12 percent. Company co-founder Angie Hicks planned to trim her stake to 1.5 percent
from 1.8 percent, the filing shows.
Angie’s List plans to use net proceeds from the offering to fund advertising and increase membership, the filing shows.
Bank of America Corp. led the offering.

















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Insiders lost $43.2 million through the first nine months of 2011, pushing total losses since 2006 to $160.6 million.
At that cash burn rate, the company will be out of cash within 24 months, after the insiders have dumped their stock options/shares and the "goodwill" writedowns begin.
Using non standardized accounting rules to measure financial performance and taking cash from clueless investors is not key.
We live in different worlds. Mine is real.
In terms of turning a profit, just look at I3, Aprimo (never completed but did file initial paperwork several years ago), Groupon, Pandora, LinkedIn, etc. None of these companies were profitable other than LinkedIn which was just above water. Cash and Non-GAAP income are the keys.
The company planned to sell about 6.3 million shares in the offering, with the remaining 2.5 million SOLD BY EXISTING SHAREHOLDERS, according to the prospectus."
"in terms of turning a profit, that matters very little with a technology IPO."
What world do you live in?
Must be the one that valued AOL stock by the number of internet hits it received;)
Pump and dump.
Everyone connected with the company is selling.
Never turned a profit.
Doesn't even project to be profitable in the future.
Who the heck is buying shares in this company?