RiNo-based
BrightNest has been acquired by Indianapolis-based
Angie's List for about $6 million in cash and stock. The eight-employee startup will remain in Denver.
"The success of our mobile app got the attention of a lot of major companies," says CEO and Founder Justin Anthony. "Angie's List made the most sense. It's the missing piece of the puzzle."
Echoes Dina Chaiffetz, BrightNest Director of Marketing: "BrightNest has established itself as a consumer-friendly brand that makes home maintenance easy and engaging. By joining forces with a well-established and trusted national brand like Angie's List, the two companies will be able to further improve the homeowner experience and expand market reach."
The acquisition also means "we get to play in a much larger sandbox," Anthony adds. "The biggest things you're going to see are changes on the product side."
Anthony says BrightNest brings plenty of skills to the table that were attractive to Angie's List management. "There's a lot of things we do well that they want to improve on internally."
BrightNest's iPhone-only app "received every possible accolade from Apple," says Anthony.
The BrightNest brand will remain intact, and the company has no plans of moving from Denver. "Further expansion is likely," says Anthony.
Anthony founded BrightNest in 2011 with Chicago-area homebuilder Allen Shulman. The company's online tools and content covering home maintenance has attracted 120,000 users to date. With 1,000 employees, Angie's List compiles reviews of contractors and service providers in numerous cities.
Contact Confluence Denver Innovation & Jobs News Editor Eric Peterson with tips and leads for future stories at eric@confluence-denver.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.