INDIANAPOLIS, Oct. 14, 2014 (GLOBE NEWSWIRE) -- Angie's List
(Nasdaq:ANGI) announced today that as part of its continued investment
in growth, it plans to expand its Indianapolis headquarters, creating
hundreds of new jobs by 2019. The expansion, which is enabled in part
by an attractive incentive plan from the City of Indianapolis and State
of Indiana, is expected to begin in 2015 and extend through 2019,
broadening Angie's List's footprint in the city's east side.
"Today's announcement reflects our expectation for continued growth and
expansion and highlights our commitment to the city of Indianapolis,"
said Bill Oesterle, Angie's List Chief Executive Officer. "We look
forward to growing our thriving campus and continuing to attract talent
to Indianapolis."
Angie's List intends to continue its growth in its headquarters
location, expanding from approximately 500 employees in 2011 to
approximately 2,800 by the end of 2019. The Company plans to begin
hiring in 2015 for positions including information technology, sales
and member services. As part of the incentive plan, Angie's List has
agreed to achieve certain business and financial targets including
annual investment, number of employees and average wage levels. The
company expects to invest more than $10 million in expansion-related
capital expenditures in 2015, with cumulative investment expected to be
approximately $40 million by the end of 2019.
About Angie's List
Angie's List helps facilitate happy transactions between more than 2.8
million consumers nationwide and its collection of highly-rated service
providers in 720 categories of service, ranging from home improvement
to health care. Built on a foundation of authentic reviews of local
service, Angie's List connects consumers directly to its online
marketplace of services from member-reviewed providers, and offers
unique tools and support designed to improve the local service
experience for both consumers and service professionals.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding expected job growth, the receipt of city
and state incentives and expansion-related capital expenditures. These
forward-looking statements are based on Angie's List's current
assumptions, expectations and beliefs and involve substantial risks and
uncertainties that may cause results, performance or achievement to
materially differ from those expressed or implied by these
forward-looking statements. Factors that could cause or contribute to
such differences include, but are not limited to: our ability to
accurately measure and predict revenue per paid membership, membership
acquisition costs or costs associated with servicing our members; our
ability to protect our brand and maintain our reputation among
consumers and local service providers; our ability to attract and
retain local service providers to advertise on our service; our ability
to increase our pricing on memberships and service provider contracts
as we increase our market penetration; our ability to replicate our
business model in our less penetrated markets; our success in
converting consumers and local service providers into paid memberships
and participating service providers; competitive factors; our ability
to stay abreast of modified or new laws and regulations applying to our
business, including those regarding sales or transaction taxes and
privacy regulation; our ability to adequately protect our intellectual
property; our ability to manage our growth; our ability to attract and
retain qualified and experienced personnel, and general economic
conditions worldwide.
Further information on these factors and other risks that may affect
our business is included in filings we make with the Securities and
Exchange Commission from time to time, including Angie's List's Annual
Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K.
These documents are or will be available online from the SEC or on the
SEC Filings section of the Investor Relations section of our website at
http://investor.angieslist.com
. Information on our website is not part
of this release. All forward-looking statements in this press release
are based on information currently available to us, and we assume no
obligation to update these forward-looking statements in light of new
information or future events.