Angie's List Gets $35 Million for Local Service Provider Ratings

Authored by Mark Hefflinger on April 10, 2008 - 8:29am.

Indianapolis, Ind. - Angie's List, a site that offers user-generated ratings and reviews on local service providers, announced on Thursday that it has received a $35 million equity investment from Battery Ventures, which will take a minority stake in the company.

Indiana-based Angie's List currently counts more than 600,000 members in 124 major U.S. cities, who provide ratings and reviews on service providers in over 330 categories, such as mechanics, plumbers, handymen and doctors.

The site plans to open service to any consumer in the country in the second quarter of 2008, and subsequently launch in Toronto and London.

Angie's List does not allow anonymous postings, and service providers cannot add themselves to the list.

Revenue is generated through a combination of subscriptions and advertising.

The company will use the new funds for continued growth and service expansion.

Related Links:
http://www.angieslist.com

Published in DMW Daily, April 10, 2008

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Comments

Really?

Submitted by anonymous (not verified) on April 11, 2008 - 1:40am.

Good deal for Angie, but really? With all the money in print YP advertising, you've got to expect silliness like this. Afterall, this is not the only over valuation I can think of (yelp anyone?). But I love how Angie spins it's "membership" and the fact that merchants can't list themselves. Why is that a particularly good thing? Just look at a site like Kudzu and what it does in Atlanta to see what a real collection of neighbor reviews and merchant profiles can look like. Makes Angie's list look silly.

replay

Submitted by emergency plumbers (not verified) on August 13, 2008 - 11:10pm.

Another company founded by two former PayPal employees, Yelp is a local reviews website covering almost 40 states. Users write and read reviews about anything from their favorite hole in the wall restaurant to the worst downtown club.