Yelp closes 66 percent over opening price


Jeremy Stoppelman, chief executive officer of Yelp Inc., center, rings the opening bell with Chief Operating Officer Geoff Donaker, second left, and Chief Financial Officer Rob Krolik, right, at the New York Stock Exchange (NYSE) in New York. (Jin Lee/BLOOMBERG)
March 2, 2012

Yelp, the online review site, closed 66 percent up on its first day of trading. The site fared far better than other recent notable technology companies that have gone public in the past year.

The company announced Thursday that it would price its stock at $15 per share. The stock price rose quickly Friday after the opening bell, and eventually closed around $24.50.

With luck, Yelp may be able to avoid the cooldown that’s hit other formerly hot tech stocks. Despite hype, Groupon failed to make a huge splash on the market and closed Friday at $19.20, slightly below its initial price of $20 per share.

Zynga, the social gaming giant, has recovered from its bruising debut on the stock market, when it closed below its $10 per share pricing. On the news Friday that the company had launched its own Web site — indicating that it’s starting to extricate itself from a co-dependent relationship with Facebook — the gaming company closed at $14.69.

LinkedIn, which soared nearly 100 percent in its first day on the market to close at $94.25 per share, has survived better than others in the industry. The stock closed at $87.50 on Friday, still far above its opening price of $45.

Related stories:

Yelp stock jumps in early trading, but is it a sure thing?

Facebook files for IPO, plans to raise $5 billion with stock sale

Zynga IPO: Shares dip, stabilize in morning trading

Hayley Tsukayama covers consumer technology for The Washington Post.
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