Local business review provide, Yelp, has priced above its expected IPO range of $12 to $14. The IPO will begin at $15 a share for 7.1 million shares.
The price is a surprise because of the sell off of recently Web 2.0 IPOs which include LinkedIn and Groupon. For some reason the demand for new wave web businesses in instiable, despite the beating investors have taken.
At its final price, Yelp’s IPO has a total value of about $107 million, though a small portion of is going to an affiliated, non-profit foundation that sold 50,000 shares in the deal. That is well below other recent high-profile Web debuts such as Zynga , the social game maker that raised more than $1 billion in its IPO in mid-December, and Groupon , which raised more than $700 million in its own debut in early November
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