Indianapolis-based Angie's List had sought an injunction, arguing the trio misappropriated trade secrets and/or solicited former co-workers to join them.
CEO Scott Durchslag told analysts he will reinvigorate growth by dropping the paywall, which he said will open the floodgates to a deluge of new customers.
Angie’s List Inc. announced plans Thursday morning to overhaul its membership model by offering a tiered subscription plan that includes free access to its ratings and reviews.
TCS Capital founder Eric Semler and two other outsiders are joining the board under a settlement announced Tuesday morning. The pact bars TCS from increasing its ownership stake beyond 12.75 percent. It currently owns 10.7 percent.
Angie’s List made history Tuesday by notching its first profitable year, but the company’s shares tumbled more than 10 percent after it reported underwhelming revenue growth.
The 21-year-old Indianapolis-based home-services reviews and marketplace firm announced a 2015 profit of $10.2 million, up from a loss of $12 million in 2014.
Angie’s List Inc. and rival HomeAdvisor both connect consumers and service providers, but their business models are very different. That adds a complicating wrinkle as speculation intensifies that HomeAdvisor’s parent will take another run at acquiring Angie’s List.
New York-based Internet giant IAC/InterActiveCorp is gearing up for another run at acquiring Angie’s List Inc., The New York Post reported Tuesday.
Angie’s List Inc. is rejiggering its marketing strategy, a move that includes hiring a new branding agency to help get the home-services giant growing rapidly again.
The Colorado-based firm, which connects homeowners to service providers, expects to open a downtown Indianapolis office in February.
Major shareholder TCS Capital Management on Monday disclosed that it has rejected a board seat offered by Angie’s List and is still pushing the company toward a merger with rival firm HomeAdvisor.
Internet behemoth IAC appears bent on hashing out an acquisition and likely would stage a hostile takeover if Angie’s List resists, market analysts say.
IAC/InterActiveCorp went public with its offer after Angie's List's board spurned private overtures. The company said it wants to combine Angie's List with its HomeAdvisor unit to create a home services powerhouse.
Even after the company shelved a $40 million expansion plan this spring, former CEO Bill Oesterle said he planned to continue pursuing a way to consolidate office space and add workers. New CEO Scott Durchslag said that’s not an urgent issue.
Monetizing free users is just part of the vision that new CEO Scott Durchslag, who took the helm of Angie’s List in September, is laying out to reinvigorate the struggling home-services company, which has seen revenue growth slow notably since last year.
Shares sank 15 percent on Wednesday morning despite an $82,000 profit in the third quarter. New CEO Scott Durchslag told analysts he wanted to increase shareholder value organically rather than pursue a sale or merger.
The New York-based investor that’s been boosting its stake in Angie's List in recent months has gone public with its demands, blasting the company's chairman and urging a merger.