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Jeremy Levine

Yelp unprofitable

1 Mar, 2012

The company remains unprofitable ahead of its IPO, reporting a full-year net loss in 2011 of $16.7 million on sales of $83.3 million. In 2010, it lost $9.6 million on $47.7 million revenue. It has also cut cut half its sales staff. Other internet companies have successfully gone public despite questions about their business model, and Yelp pushes ahead with IPO plans.