Tuesday, September 21, 2010

Wasatch Funds Backs Angie's List

Salt Lake City-based Wasatch Funds, the provider of no-load mutual funds, is one of the firms backing online business recommendations site Angie's List. According to Angie's List, which is based in Indianapolis, it has closed on $22.5M in financing from Wasatch Funds and prior investor Battery Ventures. Angie's List said it will use the investment to expand its health and welness consumer reviews, as well as its local group coupon program. Angie's List runs "The Big Deal", a local coupon program which competes with Groupon. Angie's List offers local, consumer focused reviews of services and companies. Greg Bohlen at Wasatch Funds said the firm was attracted to Angie's List, in part, because Angie's List "operates outside the herd mentality of Wall Street and the Silicon Valley." More information »