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Jeremy Levine

Yelp files for IPO

1 Mar, 2012

Yelp files a prospectus to raise up to $100 million. It doesn’t say which exchange it wants to list on or how many shares it wants to sell, but preempts investor concerns about its rivalry with Google:

[Google] has promoted its own competing products, including Google’s local products, in its search results. Given the large volume of traffic to our website and the importance of the placement and display of results of a user’s search, similar actions in the future could have a substantial negative effect on our business and results of operations.