Just finished reading the Angie’s List article [As Angie’s List hits crossroads, shareholders get antsy, Aug. 3 in the IBJ]. I agree that it is time for a change.
My suggestion is that you take the company private and make it into the premium provider it could still be.
When the whole first page from a search of “roofing contractor” results in 100% paid advertisers, you are not living up to your Member Bill of Rights (“Here at Angie’s List, our members come first”). Clearly advertisers and stockholders come first.
Scale down, go back to the lion’s share of revenue coming from membership sales, hire people that really want to help your members, advocate for those members, and bring back the trust that those members have lost.
It’s time to be the best. Not to be confused with the biggest, most profitable, or most appealing to potential buyers.