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.
REUTERS/Jim YoungYelp shares slumped by as much as 11% in after-hours trading Thursday after the company's projection for first-quarter sales missed analysts' expectations.
The business-reviews site said it expected first-quarter revenue in a range of $195 million to $199 million. But analysts had estimated $204.4 million, according to Bloomberg.
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.
Yelp Inc (NYSE:YELP) announced on Tuesday that it was raising the guidance for the first quarter of fiscal 2015 (1QFY15) and financial year 2015 (FY15) revenues. Following the announcement, the stock was trading up by around 7.11% at $45.3 as of 10:45 AM EST.
The company increased its revenue target for 1QFY15 from a $114-116 million range to the $118-120.5 million range. Analyst had been expecting the company to report revenue of around $115.69 million for the quarter.
Yelp said it lost money in its first quarter on Wednesday, plus delivered an outlook for the year that was at the low end of expectations. Shares immediately fell as much as 16% in after-hours trading, before recovering slightly. The local business ratings and reviews site reported a loss of $1.3 million, [...]
By Renaissance Capital IPO Research:
Local reviews website Yelp (YELP) is looking to continue the internet IPO resurgence this week. The company is expected to offer 7.2 million shares on Thursday, March 1st at a price range of $12 to $14. Trading on the New York Stock Exchange should begin on Friday under the symbol YELP.
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.