Yelp Files For $100 Million IPO

Yelp Files For $100 Million IPO

This post has been updated.

Local review site Yelp has filed for a $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.

"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.

Yelp reports in its Form S-1 that it generated $58.4 in net revenue during the first 9 months of 2011. This marks 80 percent growth over the same period last year. The company also reported a net loss of $7.6 million during that same period and claimed a monthly average of 61 million unique visitors to its website during the third quarter of 2011.

TechCrunch points out that the San Francisco-based company turned down a $550 million offer from Google in 2009. During that year, Yelp's net revenue was $25.8 million, less than half of what it reported to the SEC on Thursday.

Yelp currently boasts 22 million reviews for services that range from restaurants and bars to travel and auto businesses.

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