May 15, 2012

Angie's List Announces Pricing of Its Follow-on Offering

INDIANAPOLIS, May 15, 2012 (GLOBE NEWSWIRE) -- Angie's List, Inc. (Nasdaq:ANGI) today announced the pricing of 8,440,423 shares of its common stock at $13.00 per share in a follow-on public offering. Angie's List is selling 703,235 shares of common stock; the remaining shares will be sold by Angie's List stockholders. In addition, certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to 1,266,063 additional shares of common stock.

The proceeds of the primary portion of the offering will be used to fund the company's advertising strategy to drive membership growth and for general corporate purposes, including working capital. Angie's List will not receive any proceeds from shares of common stock to be sold by the selling stockholders. The principal purposes of the offering are to facilitate an orderly distribution of shares by the selling stockholders and increase the company's public float.

BofA Merrill Lynch is the lead bookrunning manager of the offering. Stifel, Nicolaus & Company, Incorporated, Allen & Company LLC, RBC Capital Markets, LLC, Janney Montgomery Scott LLC, Oppenheimer & Co. Inc., CODE Advisors LLC, Wells Fargo Securities, LLC and ThinkEquity LLC are acting as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 15, 2012. This offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from the offices of BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, or by email at dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Angie's List

Angie's List collects consumer reviews on local service providers ranging from home improvement to healthcare in more than 550 service categories. More than one million paying households in the United States rely upon Angie's List to help them make the best hiring decisions. Members get unlimited access to local ratings via Internet or phone, exclusive discounts, the Angie's List Magazine and help from the Angie's List complaint resolution service.

CONTACT: Investor Relations at Angie's List

         888-619-2655

         investorrelations@angieslist.com

         

         Or

         

         Brinlea Johnson

         The Blueshirt Group for Angie's List

         212-331-8424

         brinlea@blueshirtgroup.com


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