Indianapolis-based Angie’s List (Nasdaq: ANGI) says it reached more than five million members at the end of 2016, up more than 50 percent from the previous year. The company says its move to drop the paywall for online reviews nationwide contributed to the growth.
Angie’s List says it hit the one million membership mark in 2011 and topped two million members in 2013 before the paywall was dropped. The company’s membership growth in 2016 came as its main competitor, HomeAdvisor, opened a downtown Indianapolis office in February and announced expansion plans in November.
"This milestone is a testament to the value we provide to our customers," said Scott Durchslag, chief executive officer of Angie’s List. "Angie’s List remains solidly grounded on a foundation of quality, reliability and authenticity."
The announcement comes more than two months after the company detailed job cuts and reported a third quarter net loss of nearly $17 million. Angie’s List said the cuts were part of continued efficiency efforts that could save the company up to $20 million.