NEW YORK (
) -- Local reviews site
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
, as did fellow review site
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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