None of Yelp's (YELP +22.5%) three main VC backers, who together own almost 60% of the company,...

|About: Yelp (YELP)|By:, SA News Editor

None of Yelp's (YELP +22.5%) three main VC backers, who together own almost 60% of the company, sold or distributed shares today, a source tells Dan Primack. Another source claims chairman Max Levchin (13.6% stake) and CEO Jeremy Stoppelman (11.1%) also didn't sell on the first day they were allowed to do so. That goes a long way towards explaining today's giant short covering-fueled rally. (earlier: I, II)