NEW YORK (
(YELP - Get Report)
has priced its initial public offering at $15 per share, above its projected range of $12 to $14, according to multiple media reports.
The online business review company sold 7.15 million shares in the offering, raising $107 million, according to
The Wall Street Journal
. The company's stock is expected to start trading Friday on the New York Stock Exchange.
In the company's latest
with the Securities and Exchange Commission on Feb. 16, Yelp said it lost $16.9 million in 2011 on revenue of $83.3 million, wider than its loss of $9.7 million in 2010 on revenue of $47.7 million.
Yelp also said in its filing that the majority of the reviews on its site are of restaurants (42%) followed by shopping (20%), and that it averaged 66 million unique visitors on a monthly basis for the December-ended quarter, up 67% from the same period in the prior year.
Written by Michael Baron in New York.
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