Yelp IPO Wants To Raise $107.25 Million

| About: Yelp (YELP)
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By Alexia Tsotsis

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Friday morning comes the moment Yelp CEO Jeremy Stoppelman’s been waiting for seven years. According to the NYT, Yelp (NYSE:YELP) will drop on the NYSE under the YELP ticker.

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.

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 (NASDAQ:GRPN), LinkedIn (LNKD), and Zynga (NASDAQ:ZNGA) all debuting before it to mixed results. Industry giant Facebook (NASDAQ:FB) is set to wreak havoc IPO in the spring.

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