Shares of Angie’s List Inc. soared in premarket trading Wednesday after the Financial Times reported that the consumer reviews service was considering a sale of its business.
The newspaper, citing sources it did not identify, said Tuesday that the Indianapolis company has hired bankers to help it explore strategic options, but it was not committed to a sale and may decide not to pursue a deal.
Company spokeswoman Cheryl Reed declined to comment on the report.
Angie’s List provides online access to business ratings and reviews. Its members review companies that provide services for their homes, yards and cars, as well as health care providers.
In July, the Indianapolis-based company, which has been focused on expanding and marketing its business, said it had lost $22.1 million, or 38 cents per share, in the first six months of the year. Revenue grew 20 percent to $36.8 million.
The company went public in 2011, and its stock topped $25 last year. But shares have largely slide since then. The stock closed at $6.37 on Tuesday, which put it down 58 percent so far this year.
On Wednesday, shares were up 16 percent, or $1.03, to $7.40 about 40 minutes before markets opened.
