Yelp (YELP) IPO Prices at $15, Above Expected Range
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Yelp Inc. (NYSE: YELP) priced its initial public offering of 7,150,000 shares of Class A common stock at a price to the public of $15.00 per share, above the expected $12-$14 range. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "YELP" on Friday, March 2, 2012.
59,873,181 shares are expected to be outstanding following the offering, giving the company a market cap of nearly $900 million if they open at the $15 price.
Goldman, Sachs & Co. is the lead bookrunning manager and representative of the underwriters for the offering. Citigroup Global Markets Inc. and Jefferies & Company, Inc. are joint bookrunning managers, and Allen & Company LLC and Oppenheimer & Co. Inc. are co-managers for the offering.
In the first nine months of 2011, the company generated $58.4 million in net revenue, representing 80% growth over the first nine months of 2010. In this same period last year, they generated a net loss of $7.6 million and an adjusted EBITDA loss of $1.1 million.
Yelp is a company that connects people with local businesses.
59,873,181 shares are expected to be outstanding following the offering, giving the company a market cap of nearly $900 million if they open at the $15 price.
Goldman, Sachs & Co. is the lead bookrunning manager and representative of the underwriters for the offering. Citigroup Global Markets Inc. and Jefferies & Company, Inc. are joint bookrunning managers, and Allen & Company LLC and Oppenheimer & Co. Inc. are co-managers for the offering.
In the first nine months of 2011, the company generated $58.4 million in net revenue, representing 80% growth over the first nine months of 2010. In this same period last year, they generated a net loss of $7.6 million and an adjusted EBITDA loss of $1.1 million.
Yelp is a company that connects people with local businesses.
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