Online review giant Angie’s List has acquired Denver-based tech startup BrightNest for $2.65 million in cash. The price included $2.15 million at closing Friday and $500,000 payable in a year subject to performance targets. The BrightNest team will also receive $3.65 million in stock options.
BrightNest provides free online tips and tools for home maintenance. Founded in 2011, the company raised about $1.5 million in funding and participated in the 500 Startups accelerator program. The company’s eight employees will remain based in Denver’s River North Art District.
Since officially launching in early 2012, BrightNest has garnered 100,000 users. Indianapolis-based Angie’s List claims more than 2 million users, who visit the site for reviews on local service providers.
