Online reviews site Yelp to go public

Nov 17, 2011
Yelp, a website which posts user reviews of businesses and services, filed for an initial public offering Thursday seeking to raise up to $100 million.

Popular online reviews site Yelp is going public, the latest in a slew of Internet businesses to do so.

Yelp Inc. said in a regulatory filing Thursday that it plans to raise $100 million in an initial public offering. The amount of money Yelp is seeking in its IPO will likely change as its bankers determine how many shares should be sold and at what price. That process typically takes three to four months.

San Francisco-based Yelp, a website best known for reviews of restaurants, bars and other local merchants, generated $58.4 million in net revenue in the first nine months of this year. It booked a net loss of $7.6 million in the same period. The company makes the bulk of its money from advertising.

Yelp filed its initial IPO papers the same day that another reviews site, Angie's List Inc., began trading its stock. Unlike Yelp, Angie's List charges a monthly fee for access to its reviews of local services such as dentists, veterinarians, roofers and plumbers. , meanwhile, is free.

And Groupon Inc., the online deals site, filed for its IPO earlier this month. The offerings have been successful, but it'll take some time - and earnings reports - to see how well the companies can do over the long term.

Yelp's underwriters include , and others.

Explore further: India on tap as first market for Microsoft Lumia 535

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Online review site Yelp planning IPO: WSJ

Nov 08, 2011

Yelp is moving ahead with an initial public offering that would value the website which posts user reviews of businesses and services at $2 billion, The Wall Street Journal reported on Tuesday.

Angie's List stock rises in first trading day

Nov 17, 2011

(AP) -- The stock of consumer-reviews site Angie's List Inc. increased 16 percent on its first day of trading Thursday, showing ongoing investor appetite for Internet companies.

Yelp testing 1-day sales of local coupons

Aug 27, 2010

(AP) -- Review website Yelp said Thursday that it is testing out "Yelp Deals" - large discounts at local businesses that site users can buy on one day only.

Yelp to show reviews it automatically filters

Apr 06, 2010

(AP) -- Yelp, seeking to combat allegations that the online reviews site manipulates its users' feedback on local businesses, will now let visitors see the items that had been automatically removed by software meant to catch ...

Recommended for you

Netflix sues Yahoo CIO for alleged kickbacks

11 hours ago

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

BlackBerry courts iPhone users with cash

Nov 25, 2014

Canadian smartphone maker BlackBerry is wooing Apple customers with a cash offer for trade-ins of iPhones for its new square-screened, keyboard-equipped Passport.

HP earnings show continued struggle

Nov 25, 2014

Venerable tech giant Hewlett-Packard has been struggling for three years to turn its business around. Its latest earnings show it still has more work ahead.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.