The Mobile World Congress was held this week, with some of the
hottest offerings from companies like
One key trend this year was companies trying to pack more features into their offerings without significantly raising prices amid a weak global economy. There was, however, innovation on show at the event, as evidenced by Nokia's attempt to revolutionize smartphone camera technology and Samsung's buzzed-about "projector phone."
(YELP - Get Report) went public on Friday, pricing its offering of 7.15 million shares above range at $15 each, raising $107 million.
Yelp, which compiles reviews for local businesses, has seen its revenue grow sharply, from $25.8 million in 2009 to $83.3 million in 2011, an increase of nearly 300%. Losses, however, have continued to grow as well. Yelp's losses widened to $16.9 million in 2011 from $2.3 million in 2009.
Yelp is highly dependent on
as a "significant source of traffic" but that could end if Google decides to promote its own properties. "Our success depends on our ability to maintain a prominent presence in search results for queries regarding local businesses on Google," Yelp said in its S-1 filing.
Yelp shares finished up 63.87% or $9.58 above their IPO price, to close the day at $24.58.
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-- Written by Chris Ciaccia in New York.
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