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Angie's List acquires BrightNest for $2.65M

Angie's List announced the acquisition of online start-up BrightNest. Under the terms of the acquisition agreement, Angie's List acquired substantially all of the assets of BrightNest for $2.65M in cash. Angie's List funded the acquisition with existing cash. In addition, Angie's List will grant options to purchase $3.65M of Angie's List common stock to the members of the BrightNest team, all of whom have been retained by Angie's List. The transaction closed on August 2.