Yelp Files for Initial Public Offering

Yelp is going public. Filing on Thursday with the Securities and Exchange Commission, they are hoping to raise $100 million in an initial public offering. Best known for their restaurant, bar and business reviews, Yelp actually recorded a loss of $7.6 million on revenue of $58.4 million in the first nine months of this year.

Founded in 2004 by current CEO Jeremy Stoppelman and Russel Simmons, Yelp had more than 22 million reviews on its site at the end of September and an average of 61 million unique visitors each month. People have access to Yelp in 43 markets in America and in 22 markets worldwide.

Their largest shareholders are Bessemer Venture Partners, with a 22.5% stake, Elevation Partners, with a 22.4% stake, Benchmark Capital Partners with a 16.2% stake, and Max Levchin, a PayPal co-founder and chairman of Yelp’s board with a 13.8% stake.