Angie's List picks BofA for August IPO: source

Industries Reuters

CHICAGO (Reuters) - Angie's List Inc, a website that compiles consumer reviews on everything from plumbers to pediatricians, has picked Bank of America Corp <BAC.N> to steer its initial public offering planned for August, a person briefed on the matter said on Saturday.

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The IPO for the Indianapolis-based company is expected to take in from $100 million to $200 million and value the company at about $1 billion, the source said.

The website's selection of Bank of America to lead the IPO was first reported by Bloomberg. Bank of America declined to comment on Saturday.

Founded by Angie Hicks and Bill Oesterie in 1995, the website provides thousands of reviews about local service companies in more than 100 cities.

Subscribers to the site pay a fee to access the aggregated reviews of companies that service homes, autos and health.

The IPO would add to the list of websites going public in recent weeks, including the professional networking site LinkedIn Corp <LINKD.N> and music site Pandora Media Inc <P.N>. The stocks of both have fallen sharply since the initial offering due to concerns about their profitability.

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(Reporting by Clare Baldwin; Writing by Michael Hirtzer; Editing by Peter Cooney)

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