Yelp insiders rejoice! Yelp holds steady around $24...not bad, considering insiders hold the stock at an average price per share of $1.12.
Yes, that's not a typo. Insiders own the stock at $1.12. America. What a concept.
What did it take to get Yelp to list on the NYSE? No one is talking, but I can tell you this: it's all about co-branding.
Think about it: there are three "stools" to a pitch to list at the NYSE or Nasdaq for a social media company like Yelp: the customer, the company and the merchant.
What matters to Yelp? They want relationships with customers, but also with merchants. Who are the merchants who matter most to a company like Yelp? How about restaurants.
A co-branding deal between Yelp and the NYSE might have included a presentation at the annual meeting of the National Restaurant Association sponsored by the NYSE, for example. NYSE has the long tentacles to build relationships between Yelp and with the merchants who matter.
It cuts both ways. Take Zillow , which elected to list at the Nasdaq. A company like Zillow wants visibility so it can drive people to their website. How about free advertising at the huge Nasdaq sign in Times Square? How about on New Year's Eve, with millions of people in Times Square?
Get it? Each company is different, and each exchange may be able to offer something.
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