Yelp Inc. loses $5.3 million in Q4, $19.1 million for year
Steven E.F. Brown
Web Editor- San Francisco Business Times
Online restaurant review business Yelp Inc. lost $5.6 million in the fourth quarter, down from a loss of $9.1 million a year earlier in the same period.
But the San Francisco company (NYSE: YELP) lost more for the full year ended December — $19.1 million — than in the previous year, when it lost $16.9 million.
Fourth quarter revenue grew to $41.2 million, up from $24.9 million a year earlier.
Full year revenue grew to $137.6 million in 2012, up from $83.3 million in 2011.
Jeremy Stoppelman, Yelp’s CEO, said: “2012 was a tremendous year for Yelp.” This year, he hopes, will be a “tipping point” for the company in Europe.
The company’s accumulated deficit — that’s how much money it has lost since it started — grew to $60.4 million at the end of 2012.
Steven E.F. Brown is web editor at the San Francisco Business Times.