The big day has come: Yelp filed its S-1! The online review company is looking to raise $100 mn in its IPO, though pricing and the number of shares being offered hasn’t been announced yet. It will be interesting to see if Yelp follows the lead set by LinkedIn, Pandora and Groupon and offers only a small portion of the company’s stock. A portion of them will be sold by Yelp, and some will come from Yelp’s existing shareholders (allowing an exit for them).
1. Capital raise: $100 mn, with more details to come.
2. Lead underwriters: Goldman Sachs, Citigroup and Jefferies.
3. Valuation: it’s still hard to tell, but the company could be pegged at more than $2 bn.
4. 2011 financials: for the first nine months, revenue of $58.4 mn, loss of $7.6 mn. Both are improvements relative to full-year 2010: revenue of $47.7 mn, loss of $9.6 mn.
5. Traffic: 61 mn monthly unique visitors (Q3 2011), with more than half the company’s traffic coming from searches (with Google the top source).
6. Content: 22.4 mn user-generated reviews, 23 percent for stores and 23 percent for restaurants.
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Source: PC Magazine