Yelp, the online local review service, expects to sell 7.15 million shares in its IPO, at US$12 to $14 each. The total potential take is $100 million. The company will list its stock on the New York Stock Exchange under the symbol “YELP.” Yelp’s price target values the company at roughly $778 million, about nine times last year’s sales. That compares to Google’s IPO at five times sales and Yahoo’s IPO at four times sales. Yelp listed both Google and Yahoo as competitors in its IPO filing. Yelp claims about 66 million unique visitors per month and has about 25 million local reviews.
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Yelp Steps Out on IPO High Wire With Cautious Pricing
Posted by: Rob Spiegel February 20, 2012 05:00 AMYelp, the online local review service, expects to sell 7.15 million shares in its IPO, at US$12 to $14 each. The total potential take is $100 million. The company will list its stock on the New York Stock Exchange under the symbol “YELP.” Yelp’s price target values the company at roughly $778 million, about nine times last year’s sales. That compares to Google’s IPO at five times sales and Yahoo’s IPO at four times sales. Yelp listed both Google and Yahoo as competitors in its IPO filing. Yelp claims about 66 million unique visitors per month and has about 25 million local reviews.