About Angie's List, Inc. (adapted from Angie's List, Inc. prospectus):
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Angie's List operates a consumer-driven solution for their members to research, hire, rate and review local professionals for critical needs, such as home, health care and automotive services. Angie's List ratings and reviews, which are available only to their members, help their members to find the best provider for local service needs. As of June 30, 2011, Angie's List had more than 820,000 paid memberships. Angie's List allows local service providers who are highly rated by Angie's List members to advertise discounts and other promotions to their members.
Angie's List helps consumers purchase "high cost of failure" services in an extremely fragmented local marketplace. These services, which include home remodeling, plumbing, roof repair, health care and automobile repair, are typically expensive and carry a high cost to the consumer if performed poorly. Angie's List ratings are based exclusively on reviews from paid members.
As of June 30, 2011, Angie's List offered their service to paying members in 170 local markets in the United States. From December 31, 2008 through June 30, 2011, Angie's List grew from approximately 333,000 to more than 820,000 paid memberships, representing a compound annual growth rate of 43.4%. Their membership growth has been driven largely by national advertising, which resulted in a marketing expense of $30.2 million and $29.2 million in 2010 and the six months ended June 30, 2011, respectively.
In 2010 and the six months ended June 30, 2011, Angie's List revenue was $59.0 million and $38.6 million, respectively. In the same periods, their net loss was $27.2 million and $25.8 million. See their prospectus for their explanation of these numbers.
This description is adapted from Angie's List prospectus. This description is not intended to be a recommendation to buy stock from this company. To see the company's full description, view their prospectus.
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