Online Review Site Yelp Files Initial IPO Papers


Online review site Yelp said Thursday it has filed paperwork to launch its initial public offering.

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The San Francisco-based online recommendation service did not detail a proposed price range or share count in the papers filed with the Securities and Exchange Commission.

Lead underwriters for the offering are Goldman Sachs, Citigroup and Jefferies & Co.

The company says it averages about 61 million unique monthly visitors, with five million coming from mobile devices.

Yelp reported $58.4 million in total revenue for the nine-month period ended Sept. 30, up 80 percent from the same period the previous year.

Net loss for the same period was $7.6 million, compared to $8.6 million the previous year.

The filing comes two weeks after the IPO of Groupon, which provides online daily deals for local merchants.

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