Winners in the Angie's List IPO

Faith Merino · November 17, 2011 · Short URL:

Who made out in Angie's List's public offering?

After leaping out of the gate at $18 this morning—nearly 40% above the original $13 share price—Angie’s List closed Thursday at $16.26, a full 25% above the initial share price.  The company is now valued at more than $920 million.  So who won in the Angie’s List IPO?

With 11.3 million shares—or 23% of all outstanding Angie’s List shares—TRI Investments owns the largest chunk of the company, and its share is now worth $183 million.

Battery Ventures also took home a nice chunk of green.  With nearly nine million shares, Battery Ventures’ share of the company is now worth $146 million.  Of its nine million shares, Battery offered up 403,000 for sale today, which, if sold at the opening price of $18, then the firm walked away with $7.25 million.  Not a huge sum, but better than a kick in the face.

BV Capital, Angie’s List’s third largest shareholder, also sold off some shares today.  The firm owns 5.7 million shares and put 574,000 up for sale in today’s offering, which means BV took home $10.3 million, while its share of the company is worth $92.7 million.

With 4.8 million shares, T. Rowe Price accounts for the fourth largest share of the company, which is now worth $78 million.

Angie’s List co-founder and CEO William Oesterle rounds out the top five with 3.7 million shares, which are now worth $60 million. Oesterle put 184,000 shares up for sale today to pocket a possible $3.3 million.  Again…better than a kick in the face…

Angie herself—Angela Hicks Bowman—owns 908,000 shares and put 72,000 up for sale today, which means her share in the company is now worth $14.7 million, while she may have walked away today with a possible $1.3 million (enough for a nice winter home in the mountains).

Other shareholders include Michael M. Holt, EVP of Angie’s List, who owns 1.4 million shares now worth $22.7 million.  Additionally, investor and director John Biddinger owns 923,000 shares worth $15 million.

In other big news, Angie's List's primary consumer review competitor Yelp also filed for an IPO Thursday afternoon and plans to raise $100 million.

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