Yelp, as we reported its earlier plans to lists its stock on the New York Stock Exchange (NYSE) in its upcoming IPO and plans to offer the price range between $12 to $14, priced its initial public offering at $15 a share, a dollar above from its higher limit its indicated price range.
The company on the offering planned to sell about 7.1 million shares, with the rest being sold by a stockholder. Yelp shares are expected to begin trading on Friday on the New York Stock Exchange under the ticker symbol “YELP.” Goldman Sachs was the lead bookrunning manager for the offering, while Citigroup and Jefferies acted as joint bookrunning managers.
The company recently posted its full-year 2011 financials, showing total revenue of $83.3 million, up 74.6% from the previous year $47.7 million in 2010, and a net loss of $16.7 million, up 74.2% from a net loss of $9.566 million in 2010.
Yelp had 66 million monthly unique visitors and 5.7 million monthly mobile users in the quarter ending in December 2011. There are 25 million total user-generated reviews on Yelp. For those who do not know, Yelp, Inc. is a company that operates yelp.com, a social networking, user review, and local search web site.