Yelp Shares Pop Over 60 Percent In Early Trading; Valued At $1.3 Billion

Wow. Reviews site Yelp just saw a huge pop in early trading of its stock on the New York Stock Exchange this morning. Yelp opened at $22 per share, after pricing at $15 last night. Shares, which are listed under the symbol 'YELP', are trading up 60 percent from last night's pricing, putting Yelp's valuation at over $1.3 billion Yelp offered 7.15 million shares, aiming to raise about $107.25 million. As heard yesterday, the deal is said to be heavily over subscribed. Yelp?s total revenues in 2011 were $83.2 million, up 74.6 percent from $47.7 million in 2010 (and 25.8 million in 2009), but net losses were up to $16.9 million in 2011 ? a 74.2 percent increase from a net loss of $9.5 million in 2010. (Adjusted EBITDA losses were $1.1 million).

Source: http://feedproxy.google.com/~r/Techcrunch/~3/RPSZ-VIcotQ/

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