By Trent Tillman:Facebook (FB) may be getting most of the headlines and attention, but another social media company has not been lost on the institutional investors. Yelp Inc. (YELP) opened Friday morning at $22.01, after pricing their 7.15 million share IPO at $15.00, above the indicated range of $12-14.
By Chris Katje: Earlier today, review company Yelp (YELP) announced it would be acquiring its European rival Qype. The acquisition gives Yelp control of Europe's largest local reviews site. Qype is headquartered in Germany, and it appears the review site's strong presence in Germany and the United Kingdom are what Yelp was after.
Yelp’s stock opened to five-star reviews from investors on Friday, soaring 65 percent after pricing above its targeted range on Thursday night. The online reviews site’s initial public offering priced at $15 per share, above the expected $12 to $14 per share.
Alibaba has raised the price range for its initial public offering. The Chinese e-commerce giant has raised its IPO pricing range from to $66-$68 from $60-$66, according to an amended filing with the SEC.
By Alexia Tsotsis
Friday morning comes the moment Yelp CEO Jeremy Stoppelman’s been waiting for seven years. According to the NYT, Yelp (YELP) will drop on the NYSE under the YELP ticker.
Renaissance Capital IPO Research submits:
Sky-mobi Limited (MOBI), which operates China's largest mobile application store, raised $58 million by offering 7,250,000 ADSs at $8, at the low end of its expected $8 to $10 range.