Tomorrow morning comes the moment Yelp CEO Jeremy Stoppelman’s been waiting for seven years. According to the NYT, Yelp will drop on the NYSE under the YELP ticker tomorrow morning.
Yelp will be offering 7.15 million shares at $15 dollars a share, wanting to raise about $107.25 million in its IPO. The deal is said to be heavily over subscribed, and I’ve heard that some Yelpers were disappointed by the low price — despite the fact that the company is still not profitable and trading at a valuation of more than ten times its earnings revenues.
While Yelp generated $83.3 million in 2011, it also operated at a $16.9 million loss.
Yelp will be the fourth in a series of high profile tech IPOs, with Groupon, LinkedIn, and Zynga all debuting before it to mixed results. Industry giant Facebook is set to wreak havoc IPO in the spring.
Yelp (NYSE: YELP) connects people with great local businesses. Yelp was founded in San Francisco in July 2004. Since then, Yelp communities have taken root in major metros across the US, Canada, UK, Ireland, France, Germany, Austria, The Netherlands, Spain, Italy, Switzerland, Belgium, Australia, Sweden, Denmark, Norway, Finland, Singapore, Poland and Turkey. Yelp had a monthly average of 86 million unique visitors in Q4 2012*. By the end of Q4 2012, Yelpers had written more than 36 million rich,...
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