According to a press release I received this morning:
The processes Angie’s List relies on to provide reliable, fair and accurate consumer ratings on local companies have been certified by BPA Worldwide, an international, independent auditing firm.
Angie’s List, the nation’s leading provider of consumer ratings, was last reviewed by BPA in 2007, earning high marks for fairness. The current audit covered the company’s activities through February 23, 2009.
“In our opinion, the Angieslist.com service follows a consistent, documented set of techniques and processes to present fairly, in all material respects, the ratings and input of the site’s members,” BPA said in its letter apprising Angie’s List of its findings.
“Our audit included examination of member feedback for service providers that advertise with Angie’s List and service providers that do not advertise with Angie’s List. We found no variation in processing member feedback for all service providers,” the auditor said.
AngiesList reports 750K members. That’s a fraction of the 25+ million users on Yelp or Citysearch. But AngieList doesn’t have to sell ads to SMBs (there is some advetising in the printed magazine). Fees vary by market but in my area they’re $6.95 per month. Assuming members pay an average of $5 per month, that would mean roughly $45M in annual revenues. It’s likely lower than that because of discounts and other factors. But that’s still very healthy revenue.
Angie also writes a blog. What about Twitter? :)
Reviews have become increasingly important, both in terms of consumer reliance upon them for decision support but also as Google starts to factor in this information as part of its organic local ranking algorithm.