PUBLIC

Yelp Valued at $900M

IPO above expected price range.

Online review site Yelp, which begins trading Friday on the New York Stock Exchange under the ticker YELP, has priced its initial public offering at $15 a share, valuing the San Francisco-based consumer review website at nearly $900 million. The offering could raise as much as $123 million before expenses, which some analysts say is a lot of money for a company that hasn't turned a profit since its 2004 founding. Last year, it racked up $16.7 million in losses and $9.6 million the year before, though it booked a revenue of $83.3 million in 2011, up 74 percent from 2010. The stock is expected to do well on its first day, but concerns remain over its longterm earnings potential and dependence on advertising for revenue.