Yelp IPO Named #1 Business Deal of 2012 by TIME Magazine
Palo Alto, Calif. – December 6, 2012 – Cooley LLP announced today that longtime client Yelp's initial public offering was named the "#1 Business Deal of 2012" by TIME Magazine. Cooley advised Yelp on the $123 million IPO in March, as well as on its acquisition of Europe's largest local reviews site, Qype, in October.
Exemplifying why Yelp's IPO was the #1 business deal in 2012, TIME quotes Kendall Whitehouse, director of new media at the University of Pennsylvania's Wharton School: "One of the things that is attractive about Yelp is the site's closeness to the user's purchase decision… and that should be easy to monetize." On the first day of trading on the New York Stock Exchange, Yelp's shares closed 64% above the opening price.
The Cooley team that advised Yelp on its IPO was led by partners Craig Jacoby, Kenneth Guernsey and David Peinsipp and Wendy Davis and included associates Amanda Busch, Robert Jones, Siana Lowrey and Christopher Yamaoka and paralegal Eric Steiner.
The team that advised Yelp on its acquisition of Qype included partners Jodie Bourdet, David Peinsipp and Mark Windfeld-Hansen, of counsel Diane Savage and associates Robin Bennett, Amanda Busch, Aaron Pomeroy and Tali Sealman.
View the TIME article here.
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