Tech Stock Alert: (NYSE:YELP) Soars over 60% on Market Debut

New York, NY - March 2, 2012 (Investorideas.com Newswire) Investor Ideas, www.InvestorIdeas.com, a global investor research portal for independent investors, reports on the IPO and market debut for YELP INC. (NYSE:YELP), a local business review website, trading up at $24.58, up 9.58(63.87%) 11:20AM EST on over 12.5 Million shares. The IPO consisted of 7,150,000 shares of Class A common stock at $15.00 per share.

According to the website, http://www.yelp.com, Yelp had an average of approximately 66 million monthly unique visitors in Q1 2012.
Investorideas.com Newswire

Yelp connects people with great local businesses. Our users have contributed a total of approximately 25 million cumulative reviews of almost every type of local business, from restaurants, boutiques and salons to dentists, mechanics, plumbers and more. These reviews are written by people using Yelp to share their everyday local business experiences, giving voice to consumers and bringing “word of mouth” online. The information these reviews provide is valuable for consumers and businesses alike. Approximately 66 million unique visitors used our website, and our mobile application was used on approximately 5.7 million unique mobile devices, on a monthly average basis during the quarter ended December 31, 2011. Businesses, both small and large, use our platform to engage with consumers at the critical moment when they are deciding where to spend their money. Our business revolves around three key constituencies: the contributors who write reviews, the consumers who read them and the local businesses that they describe. Yelp communities have taken root in major metros across the US, Canada, UK, Ireland, France, Germany, Austria, The Netherlands, Spain, Italy, Switzerland, Belgium and Australia.

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