Online reviews site Yelp priced itself up yesterday for an upcoming, but as yet unspecified, IPO date, modestly telling the markets that its worth up to $840m. Yelp, which first filed to go public in November last year, is hoping that investors will pay between $12 and $14 for its shares, showing once again that they believe in …
Zynga makes money
Although they seem to have blown all last year's profits on hiring staff. But they needed to get that year's cash. So at least they can make profits if they grow, or sack them if not, and still make money.
Yelp seems to have lost just shy of 10% of turnover in 2009, but in order to not quite double its turnover for the next 2 years - it's had massively increase its losses. So Yelp now loses nearly 20% of turnover!
That's not progress!
Even Groupon's losses are falling. Although I can't see that ending well either. I heard a lovely interview on The Media Show (Radio 4) with some Guardian luvvie praising Facebook, and talking about how it can do lots of innovative things to raise its profit per user, in order to justify that $100bn price tag... Well hang on? That's all very well. If they tell you what that great idea is before you buy. And wishing really hard doesn't fucking count. Although the Guardian have been doing a lot of that, unsuccessfully, for the last few years. They burned £30 odd million last year - still hoping that magic fairies would bring them more revenue via their website.