Yelp IPO priced at $12 to $14 a share, will raise $100 million
Yelp Inc. will price itself at $12 to $14 a share when it starts trading on the market, the crowd-sourced review website said in regulatory filings Thursday.
The company, which values itself at $840 million on the high end, plans to sell more than 7.1 million shares. Its charitable foundation will sell 50,000 shares.
Yelp’s market introduction could raise as much as $100 million once it emerges on the New York Stock Exchange as YELP.
The San Francisco-based company began moving toward an initial public offering in November, even though its net loss last year increased to $16.7 million from $9.6 million the year before.
Yelp was founded in 2004 and said it had 66 million unique visitors a month at the end of 2011. The company likely will be the next major Internet IPO after Facebook Inc., which about two weeks ago filed papers showing that the social networking site planned to raise $5 billion in a public stock sale.
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