Local recommendation site Yelp has finally filed an S-1 to IPO, wanting to raise $100 million. While there is no price per share or valuation designated on the form, reports have held the desired valuation at between $1 billion to $2 billion.
The site generated $58.4 million net revenue in the first nine months of 2011, 80% growth over the same period in 2010. It operated at a net loss however, of $7.6 million. Revenues have grown pretty fast, from $12.1 million in 2008 to $47.7 million in 2010 but as you’ll probably get sick of hearing over the next couple of weeks, it is still not profitable.
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