THE PLAN: Yelp, which runs a popular online review site, said in an SEC filing Thursday that it plans to raise $100 million in an initial public offering.
THE COMPANY: San Francisco-based Yelp was founded in 2004 by Jeremy Stoppelman and Russel Simmons as a place for consumers to post reviews about — and discover — all sorts of local businesses. It had over 22 million reviews at the end of September and an average of 61 million unique visitors each month.
THE MONEY: Yelp plans to put proceeds from the IPO toward general corporate uses such as sales and marketing, capital expenditures and working capital.
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