Yelp Inc. is so far getting five-star reviews for its initial public offering, which priced its shares at $15, above its $12 to $14 per share targeted range.
The stock had reached 63 percent to $24.41 at 9:47 a.m. EST, having soared to $26 on its first day of trading. The latest price is available by clicking here.
Overall, the IPO values Yelp at $900 million – more than ten times the 2011 annual revenue for the local information, ratings and reviews company, which has yet to show a profit. Yelp saw an operating loss of $16.2 million in 2011 on revenue of $82.3 million, up 73 percent from 2010 revenue of $47.7 million with an operating loss of $9.6 million.
Related links:
Yelp SEC filings – http://tinyurl.com/6n9ay89
Bloomberg – Yelp Surges in Trade Debut After IPO Raises More Than Forecast
Motley Fool – Yelp Me, Please
San Jose Business Journal – Yelp prices IPO at $15 a share, above range
MSNBC – Yelp soars on stock market debut with lofty outlook
