Yelp Celebrates IPO and First Day of Trading on NYSE
Yelp, a global online business review site, opened for trading Friday, March 2, on the New York Stock Exchange (NYSE) under the ticker symbol “YELP” after its initial public offering (IPO) in which it raised $107.25 million in gross proceeds.
CEO Jeremy Stoppelman, joined by members of Yelp’s management team and employees from their New York office, celebrated the company’s first day of trading on the NYSE by ringing The Opening Bell.
“We’re thrilled to welcome Yelp to our growing community of innovative technology companies,” said Scott R. Cutler, EVP and co-head of U.S. Listings and Cash Equities, NYSE Euronext.[ Also Read: Facebook Going Public at Peak Valuation: NIA ]
Yelp was founded in San Francisco in July 2004. Since then, Yelp communities have taken root in major metros across the US, Canada, UK, Ireland, France, Germany, Austria, The Netherlands, Spain, Italy, Switzerland, Belgium and Australia.
According to the company, Yelp had a monthly average of 66 million unique visitors in Q4 2011. By the end of Q4 2011, Yelp users had written approximately 25 million local reviews, making Yelp the leading local guide for real word-of-mouth on everything from boutiques and mechanics to restaurants and dentists.
On average, more than 5.7 million monthly unique visitors relied on Yelp Mobile applications in Q4 2011 to help them make a spending decision on the go, says the company.
In the picture above: Yelp CEO Jeremy Stoppelman, along with members of the company’s management team and employees from the NY office, rings The Opening Bell to celebrate Yelp’s IPO and first day of trading on the NYSE.