Angie’s List Buys BrightNest For $2.65 Million
BrightNest is a DIY home improvement website that has been acquired by Angie’s List for $2.65 million in cash. Angie’s List also granted options to BrightNest’s team to buy $3.65 million in common stock. BrightNest’s content delivery and member engagement tools will be rolled into Angie’s List eventually.
Angie’s List started around 18 years ago and helps people connect with trusted maintenance workers. Angie’s List and BrightNest have reportedly been in talks since this past May. BrightNest co-founders Justin Anthony and Allen Schulman will remain at Angie’s List after the acquisition is completed.
BrightNest has raised over $1 million in funding led by David Cohen and the company graduated from the 500 Startups startup accelerator.