Friday, March 2, 2012

Yelp Prices IPO

San Francisco-based restaurant reviews site Yelp has priced its IPO, saying late Thursday evening that it priced its stock at $15.00 per share. The firm is expected to begin trading this morning on the New York Stock Exchange as YELP. The IPO priced above the firm's expected IPO pricing range, which was between $12.00 and $14.00 per share. Yelp is offering 7,100,000 shares in its IPO, with 50,000 shares being sold by a stockholder; underwriters have the option to purchase an additional 1,072,500 shares from Yelp. The IPO was underwritten by Goldman, Sachs & Co, Citigroup Global Markets, Jeffries & Company, Allen & Company, and Oppenheimer & Co. Yelp is venture backed by venture backed by Bessemer Venture Capital, Elevation Partners, Benchmark Capital, and Max Levchin, among others.