Angie's List, which offers independent reviews of local service providers via its subscription-based web platform, announced terms for its IPO on Wednesday. The Indianapolis, IN-based company plans to raise $106 million by offering 8.8 million shares at a price range of $11.00 to $13.00. At the mid-point of the proposed range, Angie's List will command a market value of $677 million. Angie's List, which was founded in 1995 and booked $79 million in sales for the 12 months ended September 30, 2011, plans to list on the NASDAQ under the symbol ANGI. BofA Merrill Lynch are the lead underwriters on the deal, which is expected to price during the week of November 14.
