US review site Yelp sets IPO price range at

by piaoc5641 on 2012-02-19 02:41:58

February 17消息, according to the Wall Street Journal, U.S. review site Yelp amended its IPO prospectus on Thursday. The document showed that it set the IPO price range at $12 to $14 per share, planning to issue 7.1 million shares and raise up to $100 million. Despite being able to achieve relatively strong revenue growth, Yelp still failed to make a profit. The company previously disclosed that its 2011 revenue increased by 74% to $83.2 million, but due to an expenditure increase of also 74%, its net loss expanded from $9.7 million to $16.9 million. Part of the expenditure growth came from a $5.9 million grant to the Yelp Foundation. Additionally, the number of reviews on the Yelp website increased by 64%, while unique user visits grew by 67% to 65.8 million.