Yelp to Stay in San Francisco Through 2020

Internet review site to sign a lease to move into a new downtown office.

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    NEWSLETTERS

    Bloomberg via Getty Images
    Yelp Inc. signage hangs outside of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, March 2, 2012.

    Yelp is giving San Francisco a good review.

    The young Internet company is set to announce that it will sign a lease to stay in the city where it first launched through at least 2020.

    Yelp did not immediately respond to a request for comment.

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    But the online review site will reportedly sign an eight-year lease to move into a 100,000-square-foot space in the Pacific Telephone Building at 140 New Montgomery in San Francisco.

    The building, which was once slated to become condos, is currently undergoing a major renovation.

    Yelp is expected to move from its current location at 650 Mission St. sometime in the fall of 2013.

    The company was launched by former PayPal employees Jeremy Stoppelman and Russel Simmons and it went public last March and closed its first day with shares priced at $15 and a $1.47 billion valuation.