Yelp Closes With $1.47 Billion Valuation

Priced at $15, shares are numbered at 7.1 million.

Started eight years ago in San Francisco, consumer-generated review site Yelp pushed its initial public offering live -- and priced a little higher than expected Friday. The company began trading  Friday with the stock symbol of YELP.

[You can follow the bouncing ball stock price here.]

At $15 a share, the IPO consisted of 7.1 million shares, 50,000 offered by the Yelp Foundation, and an additional 1.07 million shares were available for purchase by key underwriter, Goldman, Sachs & Co., according to The Tech Chronicles.

Shares were expected to be priced between $12 and $14. The Gate also reports Yelp averaged 66 million unique visitors in the last quarter of 2011.

Yelp closed the day at a price of $24.58 a share and a valuation of $1.47 billion -- for a company that has yet to turn a profit.

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