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 Robert Broens: Yelp (YELP) is a website that shows reviews for local businesses. The company made its public debut on Friday. There was great demand for the company's shares, which were offered at $15 per share. The opening trades took place at $22 per share and shares ended the day 64% higher to close at $24.58, valuing the company at $1.5 billion.
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.
While early investors in Yelp got their first chance to sell shares in the online reviews site on Wednesday, it appears they are holding on to their stakes for now, with the stock up nearly 25 percent.
By Interactive Brokers: YELP - Yelp, Inc. - Shares in Yelp are screaming higher today, up 26.5% at an all-time high of $32.00 as of 11:35 a.m. ET, after the provider of online consumer reviews of local businesses posted first-quarter sales that handily beat analyst estimates.
Yelp Inc., the business review site, will add health scores to information it provides about restaurants, part of a push to be more useful to consumers and local governments while promoting public well-being.
Yelp, a website which posts user reviews of businesses and services, filed for an initial public offering Thursday seeking to raise up to $100 million.Yelp, in a filing with the US Securities and Exchange Commission (SEC), did not say how many shares of Class A common stock it plans to issue or which Wall Street exchange it would be traded on.The company, which has its headquarters in San Francisco and was founded in 2004, will trade under the symbol "YELP."