IBJNews

Angie's List lands $53 million investment

Back to TopCommentsE-mailPrintBookmark and Share

Indianapolis-based Angie’s List said Thursday that it has received the biggest financial infusion in the company’s history—$53.5 million—with most of it coming from two major investment firms.

The privately held firm, which has been raking in private investment since 2005, did not disclose the names of the companies. Angie’s List spokeswoman Cheryl Reed said the funding came from “two of the world’s largest public money managers.”

One of the companies is a new investor in Angie’s List, Reed said. The round of funding closed March 15.

The consumer-ratings service plans to use the investment to continue its rapid growth. The company, which employs about 400 in Indianapolis, has more than 1.5 million members in 200-plus markets across the United States and Canada.

It grew membership by more than 50 percent in 2010 and plans to exceed that growth in 2011, Reed said.

Plans also include expanding its group-coupons program, “The Big Deal,” to more markets. Online “daily deals” are a hot trend in advertising.

Angie’s List attracted about $25 million in investment last year, including a $22.5 million round of equity financing from Wasatch Funds and other investors.

The previous biggest investment in Angie’s List was a $35 million infusion of venture capital from Battery Ventures in 2008.

The 16-year-old company has landed more than $150 million in private investment since its founding.
 

ADVERTISEMENT

  • I use them
    I think they have a valid business plan. I like the coupon idea, but I think they should only allow coupons from their "star companies" (best performers). They need to keep delivering high quality service. Those who complain about the cost, well, a bad contractor can cost a lot more than their annual membership. And no, I would not rely on my neighbor's advice in a digital age.
  • WHY
    You have to pay to join this company to complain about her vendors, this company is USELESS! I do not use companies on her LIST
  • Why necessary
    I find it interesting that companies continue to be interested in funding this organization. They continue to receive millions - must be something there - but never used them - I contact my own neighbors for FREE!

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT

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

ADVERTISEMENT