Friday, April 11, 2008

Angie's List the nation's leading source for local service provider ratings has raised $35 million

What Company Is Offering:
Angie's List is where thousands of consumers share their ratings and reviews on local service providers in more than 330 different categories. Currently, more than 600,000 consumers across the U.S. rely on Angie's List to help them find the right professional for the job they need done. Angie's List was cited in U.S. News & World Report's "50 Ways to Improve Your Life in 2007"

How Much They Got From VCs:

Angie's List the nation's leading source for local service provider ratings has added Battery Ventures, one of the nation's oldest and most well respected venture capital firms, to its list of investors. Battery invested $35 million in exchange for a minority stake in the company. Angie's List will use the investment to continue its aggressive pattern of growth and service expansion.

"We're very excited to be working so closely with Roger Lee and his partners at Battery," said Angie Hicks, founder of Angie's List. "They were helpful even before we finalized the deal, and we know we're going to enjoy working with them as we continue to grow our presence and the services we offer."

Recognized nationally as an Internet pioneer, Angie's List holds a unique position at the intersection of local search, user-generated content and subscription-based services. Further setting the company apart in the local ratings space is its data integrity process, which maximizes the accuracy and reliability of the information available on Angie's List. Angie's List does not allow anonymous postings, and service providers cannot add themselves to the List.

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