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 S-1 filing 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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