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The 16-year-old company filed its intentions to offer 8.8 million shares for $11 to $13 each with the U.S. Securities and Exchange Commission Wednesday. According to Bloomberg, the pricing event is scheduled for Nov. 16.
About 2.5 million of the 8.8 million shares will be sold by current stockholders. Angie's List won't pocket any of the profit from the sales of these shares, but it expects to earn about $66.4 million from the remaining 6.25 million shares.
The paid membership service helps customers find local service providers by verifying consumer reviews and provides a "complaint resolution team" if the result isn't up to par. Like many other Internet companies that have recently submitted IPO filings, it is not yet profitable.