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Angie's List reports 3Q loss of $16.8 million

Posted at 11:44 AM, Nov 01, 2016

INDIANAPOLIS -- Angie's List reported a third-quarter loss of $16.8 million in 2016, the company announced Tuesday. 

The net loss is a big difference compared to the net income of $100,000 reported in the third quarter of 2015.

Since removing the paywall in June 2016, the Indianapolis-based reviews company has added two million more members, bringing its nationwide total to more than 4.5 million.

PREVIOUS | Angie's List removes paywall for business reviews

In a statement released Tuesday, Scott Durchslag, CEO of Angie's List, said the company has decided to "explore strategic alternatives."

Angie's List hired two investment bankers, Allen & Company LLC and Bank of America Merrill Lynch to help.