Yelp IPO Adds Glitters In The Web World

Posted on Mar 5 2012 - 9:48am by Editorial Staff

Yelp, as we reported earlier priced its initial public offering at $15 a share, a dollar above from its higher limit its indicated price range. Over the news the stock price of business-reviews site Yelp jumped 64% in its market debut. The San Francisco-based company, which makes money mostly by selling advertising on its website to mom-and-pop stores, has piled up a string of losses since its founding eight years ago. The red ink didn’t stop investors from pouring into the initial public offering.

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