Yelp Files for $100 Million IPO

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

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