Yelp to Raise as Much as $100 Million in IPO Amid Internet Stock Demand - Bloomberg: "Yelp Inc. (YELP), the user-generated review website, plans to raise as much as $100 million in what may be the first initial public offering from a major Internet company this year.
Yelp, based in San Francisco, said in a regulatory filing yesterday it will offer 7.15 million shares for $12 to $14 each. The pricing is scheduled for March 1, according to data compiled by Bloomberg, and the stock will trade on the New York Stock Exchange under the ticker YELP.
The IPO will probably come ahead of Facebook Inc., the biggest social-networking website, which filed to raise $5 billion on Feb. 1, without setting terms. At the midpoint of the price range, Yelp’s offering would value the company at about $778 million, or about 9.3 times last year’s sales. That compares with 5.2 times for Google Inc. (GOOG) and 3.8 times for Yahoo! Inc. (YHOO), which Yelp lists as competitors in its IPO prospectus."
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