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.