Yelp Valued at $900M, to Begin Trading Later Today

Online review site Yelp, which begins trading Friday on the New York Stock Exchange under the ticker YELP, has priced its initial public offering at $15 a share, valuing the San Francisco-based consumer review website at nearly $900 million. The offering could raise as much as $123 million before expenses, which some analysts say is a lot of money for a company that hasn’t turned a profit since its 2004 founding. Last year, it racked up $16.7 million in losses and $9.6 million the year before, though it booked a revenue of $83.3 million in 2011, up 74 percent from 2010. The stock is expected to do well on its first day, but concerns remain over its longterm earnings

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