In my estimation, the rise and what I expect to be a precipitous decline, of Angie's list could be expressed in terms of comedy except for the sad stockholders to whom the shares have been marketed. I dont know much about Angie's List but everything I see looks un natural from a business standpoint.
Lets look at one interesting point. It has been widely reported that a Federal Case has been filed against Angie's List that goes to the heart of the way the company does business. I dont know if its true, but I do know the company has not addressed this issue with stockholders. If this alleged fact is true, the first thing management would do to protect themselves would be to issue a press release notifying the stockholders. Altho not to do so might help the stock price in the short run, not doing so exposes management. In my estimation Management must not be too bright. Angie's list management must have "Handlers from Wall Street" that managed the stock market side of the company that made the founders rich beyond their dreams. It may be that Angie's List's "Wall Street Handlers" have not been so forthright with managment on the way down.
Now the company has two issues, assuming reports of the non disclosed Federal Case are true.
Angie's has to deal with the Federal Case and the Stockholders and their lawyers who are going to come after management for failing to disclose in a timely manner that exrtremely important and timely event.
I have no beef with Angie's List, altho I reasonably expect a lot of spam email for having once signed up as I cannot imagine the list being well protected from wide distribution. If Angie herself does pizza, I will not hesitate to patronize. There is a niche, I expect, for Angie Hicks Bowman in Portabella Pizza, altho she may have made so much money from selling shares in Angie's list she won't work no more when its gone.
In closing ,I am short, and love to point out what I perceive as the absurd. I concede my comments are neither objective nor based in on depth knowledge of Angie's list.