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Yelp files for $100M IPO, aiming to prove doubters wrong

Yelp, the giant local-reviews network, filed today to raise as much as $100 million in an initial offering--one that, should it come off as planned, would allow the startup to boast it was right to spurn would-be suitors Google and Yahoo.

Yelp didn't disclose a target share price or a potential market cap valuation, which is par for the course in initial IPO filings. Fortune's Dan Primack notes that Yelp is reportedly seeking a valuation in the $1 billion to $2 billion range.

The IPO filing is a big, but long-expected move for Yelp, which was founded … Read more

Judge dismisses Yelp class action suit for good

A judge dismissed the class action lawsuit against social reviews site Yelp, putting an end to a case filed against it by a group of unhappy business owners.

That suit, which was filed last February, claimed that Yelp was running an "extortion scheme" by asking businesses to pay the company in exchange for the removal of negative reviews, claims denied by Yelp.

"While we were confident that Yelp would ultimately prevail because we knew the allegations were false, it is helpful to have the matter resolved early so we can put these allegations behind us," Yelp … Read more