yelp: investors grab shares of money-losing online directory - new york times chinese restaurant review hot dish

In the most anticipated ipo of the year, shares in the unprofitable online local business rating and directory service Yelp soared on Friday.
After Jeremy storperman
Yelp's founder and CEO rang the opening bell on the New York Stock Exchange on Friday morning, making his first deal for his company based on the exchange's tradition.
Investors crowded on the floor and watched Stoppelman start the hottest tech IPO this year after Facebook.
Last night, the online review site priced its IPO at $15 per share, above expectations.
The San Francisco-based tech company raised $107.
25 million, valued at $898. 1 million. By 10:50 a. m.
Shares soared to $24.
61% on the New York Stock Exchange.
Despite the fierce competition between local advertising and the market, Yelp has not made a profit since at least 2007.
PricewaterhouseCoopers expects a busy year for the IPO event in 2012, noting that 274 companies submitted initial registration statements in 2011 and that 171 companies were still in the IPO pipeline at the end of the year.
In 2011, $35 was generated for 134 IPOs.
5 billion-168, which is $39 billion in 2010.
Like Facebook and Twitter, Yelp makes money by selling ads to businesses.
But even eight years later, Yelp is still not profitable.
According to the New York Times, the company's earnings are strong but its losses are large, and some investors are skeptical about its future.
Competitors such as TripAdvisor and Google have bought restaurants-
Zagat, the September review site, was very hot on Yelp.
Yelp, founded in 2004, reportedly rejected Google's $0. 55 billion bid.
According to Bloomberg Businessweek, people familiar with the matter said Yahoo provided $1 billion about two years ago.
Stoppelman says the company is still growing. mode.
"Yelp said that in the first three months of 2012, there were an average of 66 million unique visitors per month.
According to the company, the night owl has written more than 25 million local reviews.
There have been some milestones in this week's trading, many in the tech industry. The tech-
The Nasdaq index reached 3,000 points on Wednesday, the highest level since December 2000, while Microsoft launched the latest Windows operating system, with Apple's market value reaching $500 billion.