November 18, 2011 by staff
Yelp IPO, Yelp, a local business reviews site, filed Thursday with the U.S. Securities and Exchange Commission for an initial public offering (IPO) of up to US$100 million. The Yelp IPO comes shortly after group buying company Groupon and Angie’s List, a consumer review web site, started trading on Nasdaq this month.
The number of shares to be offered and the price range for the offering have not yet been determined, Yelp said in a statement. A portion of the shares will be issued and sold by Yelp, and a portion will be sold by certain stockholders of Yelp, it added.
Yelp in San Francisco has indicated in its registration statement to the SEC a maximum $100 million offering of Class A common stock.
The company said in the filing that its platform featured more than 22 million reviews of a variety of local businesses as of Sept. 30. It had 61 million unique visitors on a monthly average basis for the quarter ended Sept. 30, up 63 percent from the same period last year.
Yelp, which was in 2009 rumored to be a target of acquisition by Google, said it relies on traffic to its website from search engines like Google, Yahoo and Microsoft’s Bing.
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