Yelp Files $100 Million IPO Forms With SEC

By Adam E. John

Yelp has filed for an IPO of up to $100 million in Class A common shares.  The proposed maximum aggregate price of $100 million is used to calculate registration fees, and the final size of the IPO may be different. The ticker symbol, as you may have guessed, is ‘Yelp’.

Goldman, Sachs will be the lead bookrunning manager for the offering. Citigroup and Jefferies & Company, will be joint bookrunning managers, and Allen & Company and Oppenheimer & Co. will be co-managers for the offering.

According to Yelp’s Form S-1 filings with the SEC, since its inception, Yelp has incurred significant operating losses, and, as of September 30, 2011, had an accumulated deficit of approximately $32.1 million. The company had rapid revenue growth, increasing from $12.1 million in 2008, to more than thrice tha amount, $47.7 million in 2010.

Yelp features more than 22 million reviews of local businesses and approximately 61 million unique visitors have used Yelp. Yelp’s mobile application was used on more than 5 million unique mobile devices, on a monthly average basis during the quarter ended September 30, 2011.

Also see:

SAP introduces Datasphere

SAP announced its Datasphere solution, the next generation of its data management portfolio, which gives customers access to business-ready data across the data landscape.

Omron using Red Hat OpenShift for virtualized control platform PoC

Omron, a Japan-based global electrical equipment manufacturer, has chosen Red Hat OpenShift as a conceptual model for its virtualized control platform proof-of-concept.

Oracle to invest $1.5B in Saudi Arabia to open public cloud region

Oracle says it plans to open a third public cloud region in Saudi Arabia. Located in Riyadh, the new cloud region will be part of a planned US $1.5 billion investment.