Yelp Helps Kill the IPO Market
Poor Yelp. The company does something (sort of) innovative and nobody notices. While Apple was busy applying the Steve Jobs reality distortion field on tech journalists, Yelp quietly announced it had secured a Series E financing deal worth $100 million over several years. On any other day, the announcement would have raised eyebrows for the sheer size of the investment. But the real interesting part of the equation isn’t the size of the round. It’s the fact that the company raised only $25 million in new equity. The rest of the round is going to buying out the shares of vested employees and “other eligible shareholders.”
28 January 2010•2 mins read
