Loading…
Wednesday, July 09, 2014
Current Weather
Loading Current Weather....
Published: Friday, 11/18/2011

Angie’s List stock jumps 25% in value on 1st day

BLADE NEWS SERVICES

NEW YORK -- Consumer-reviews site Angie’s List Inc.’s stock grew 25 percent on its first day of trading Thursday, showing investor appetite for Internet firms.

The company’s public debut came the same day that another reviews site -- San Francisco-based Yelp Inc. -- filed for an initial public offering of stock.

Founded by Angie Hicks in 1995, Angie’s List runs reviews of dentists, doctors, veterinarians, gardeners, plumbers, and other businesses. About 1 million people pay a monthly fee to access the reviews.

On Wednesday, Angie’s List priced its offering of 8.8 million shares at $13 each -- at the top of the range it had expected. The stock rose $3.26 to close at $16.26 a share on Thursday, valuing Angie’s List at about $904 million. It opened at $18 and traded in the range of $15.02 and $18.75.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.