Saturday, March 03, 2012

Yelp Shares Surge on Debut - NYTimes.com

Late Thursday, Yelp priced its initial public offering at $15 a share, raising $107.25 million, at a $898.1 million valuation. At an opening price of roughly $22 a share, Yelp is trading at a $1.6 billion valuation –  far smaller than some of the recent Internet offerings, like Zynga or Groupon — but still an impressive debut for a start-up operating in a highly competitive environment that has yet to turn a profit.

The debut augers well for other technology stocks hoping to go public this year.

Yelp Shares Surge on Debut - NYTimes.com

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