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Yelp Files for IPO to Raise $100 Million

Online local review site Yelp has filed for IPO to raise $100 million IPO. According to the company’s S-1 filing with the SEC, the IPO is slated for 2012 and is being underwritten by Goldman Sachs, Citigroup and Jefferies.

The number of shares to be offered and the price range for the offering have not yet been determined. A portion of the shares will be issued and sold by Yelp, and a portion will be sold by certain stockholders of Yelp.

“Reports have been that Yelp will seek a valuation of between $1 billion and $2 billion, although today’s filing does not reflect any specific valuation hopes,” writes Forbes.

In 2009 San Francisco-based Yelp turned down a $550 million offer from Google.

Yelp had a monthly average of 61 million unique visitors and Yelpers have written more than 22 million reviews by the end of Q3 2011. Yelp was founded in San Francisco in July 2004.

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