Angie’s List Expected to Go Public as Soon as Thursday

Angie’s List has built a platform for consumers to review all kinds of home improvement services.

Now, the company will face its own public scrutiny, starting as soon as Thursday.

According to IPO watchers, the Indianapolis-based firm is one of nine companies that are anticipating going public this week.

Earlier this month, Angie’s List said it planned to sell about 8.8 million shares at $11 to $13 apiece to raise as much as $114 million. Including overallotments, that could increase to $131.5 million.

At the high end of its price target, the company will be valued at $722 million, based on 55.6 million outstanding shares after the offering.

The company will trade on the Nasdaq market under the symbol ANGI.

Angie’s List is similar to Yelp in that consumers use it to review services, ranging from home improvement to physicians. However, you must be a paying member to read the reviews.

The company, which estimates it will bank $66.4 million to $81.1 million in the IPO, will spend the proceeds on advertising strategy to drive membership growth and for general working capital.

Angie’s List charges $6.80 a month to receive both home and health and wellness reviews, plus an additional $10 sign-up fee. If users sign up for a year or more, the sign-up fee is waived. One year costs $62.40; four years costs $164.80.

Yelp is reportedly working with bankers and is moving closer to an IPO next year.