Angie's List IPO: Here's What You Need to Know

Angie’s List, a survivor from the last dotcom boom, is looking to go public this time around. The site, which provides consumer reviews, is looking to raise up to $114.3 mn, according to Bloomberg. It’s offering up 8.8 mn shares at a range of $11 to $13, which would translate to a valuation of $667 mn at the mid-point. Look for the IPO on November 16, 2011 … not far from when Zynga is expected to go public.

Here’s what you need to know about Angie’s List:

Revenue: $62.6 mn for the nine months ending September 30, 2011. That’s up 46 per cent year over year.

Losses: net losses stretched to $43.2 mn for this period from $18.9 mn the year before.

Users: last month, the site topped 1 mn members.

Shares: of the 8.8 mn being offered, 2.5 mn are going to existing shareholders. Those selling include Battery Ventures, which will take its stake in the company from 18 per cent to 15 per cent. BV Capital is going to trim its holdings from 12 per cent of the company to 9.3%. Angie Hicks is selling some stock, too: here holdings will go from 1.8 per cent to 1.5 per cent.

Net proceeds: expected to be around $66.4 mn.

Bank of America is the lead underwriter, and the company will trade on NASDAQ under the symbol ANGI.

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Source: Bloomberg

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