Yelp, which operates a local business reviews website with 66 million monthly users, announced terms for its IPO on Thursday. The San Francisco, CA-based company plans to raise $93 million by offering 7.2 million shares (1% insider) at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Yelp would command a market value of $848 million. Yelp, which was founded in 2004 and booked $83 million in 2011 sales, plans to list on the NYSE under the symbol YELP. Goldman Sachs, Citi and Jefferies are the lead underwriters on the deal.
