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.
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.
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.
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.
Yelp on Thursday told US regulators that it aims to raise about $115 million in a March stock market debut by pricing its initial shares somewhere between $12 and $14.Yelp, a website which posts user reviews of businesses including restaurants, bars and hotels, amended a filing with the US Securities and Exchange Commission to indicate that it will issue slightly more than seven million shares of Class A stock.The stock was to commence trading on the New York Stock Exchange under the symbol "YELP" the first week of March, the amended filing indicated.
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.