
Yelp IPO raises $107M
Yelp’s initial public offering was met with positive reviews, allowing the company to price shares at $15 — above its expected range.
The company, led by CEO Jeremy Stoppelman, set the share price late last night, after initially setting a lower marketing range of $12 to $14.
Despite concerns over the company’s quarterly losses and uncertain business model, the online review site is hitting Wall Street at an opportune time.
The share offering comes ahead of Facebook’s much-anticipated IPO, which is helping prime investor appetite for all things tech.
Yelp raised $107.25 million yesterday, and the $15 share price set a valuation of nearly $900 million. Its shares start trading today on the New York Stock Exchange under the ticker symbol “YELP.”
Yelp is selling 7.1 million shares, while its charitable foundation will sell 50,000. Investment bankers also have an option to sell an another 1.07 million shares, depending on investor demand.

