Subscription-based web platform Angie's List, which offers independent reviews of local service providers, filed on Thursday with the SEC to raise up to $75 million in an initial public offering. The Indianapolis, IN-based company, which was founded in 1995 and booked $70 million in sales for the 12 months ended June 30, 2011, has yet to determine which exchange they intend to trade on. The company has raised capital from several venture capital firms, including Boston-based Battery Ventures. Mutual fund giant T.Rowe Price is also a shareholder.
Angie's List has solidified its status as a reputable service review resource with over 820,000 paid memberships and nearly 300,000 contributing members. Joining this week's group of newly registered companies, Angie's List is the seventh company in the past two days to announce their intentions to go public. BofA Merrill Lynch is the lead underwriter on the deal. Pricing terms have yet to be determined.
