OMG. It's going to be a bumpy ride. The investor frenzy for fast-growing Internet companies resurfaced Friday as the stock price of business-reviews site Yelp Inc. jumped 64% in its market debut.
The San Francisco-based company, which makes money mostly by selling advertising on its website to mom-and-pop stores, has piled up a string of losses since its founding eight years ago.
But the red ink didn't stop investors from pouring into the initial public offering which priced above expectations at $15 a share on Thursday night. By the 4 p.m. close Yelp's shares reached $24.58, making it the latest consumer Internet company to experience a big first-day ...
Read more at http://online.wsj.com/article/SB10001424052970203986604577257193903928040.html?mod=business_newsreel
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