NEW YORK ( TheStreet) -- Local reviews site Yelp on Thursday filed for an initial public offering, hoping to raise $100 million. Yelp, which is not profitable, generated $58.4 million in net revenue for the first nine months of 2011, up 80% from the same period last year. Revenue grew to $48 million in 2011, up from $26 million from the year prior.
The company is likely trying to capitalize on strong demand for Internet offerings in the last few months. Deals site Groupon ( GRPN) saw its stock surge 40% on its first day of trading earlier this month, as did fellow review site Angie's List ( ANGI) during its Nasdaq debut on Thursday. Around 61 million unique visitors use the Yelp Web site and its mobile application is used on more than 5 million unique devices. Yelp is looking to trade under the ticker "YELP" though it didn't specify an exchange on its S-1. -- Written by Olivia Oran in New York >To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: firstname.lastname@example.org.