An IPO, an acquisition and a move to independence boosted three mobile content stocks Friday. Yelp (NASDAQ: YELP), the ad-supported site which shares user reviews of businesses, priced its IPO at $15/share Thursday night, and this morning the stock surged 60% to $24. ” target=”_blank”>Yelp attracts about 66 million unique visitors each month and the Yelp app is used on about 5.7 million mobile devices a month. Still, the company has yet to turn a profit. At $24/share, Yelp would be valued at more than $1.4 billion. Yelp offered only 7.15 million shares to the public in its IPO, but is expected to end up with up to 59 million shares outstanding. (Photo: Associated Press)
Shares of Shutterfly (SFLY) shot up 20% in the blink of an eye after the company said it will buy Kodak’s online photo business. Kodak filed for bankruptcy protection last month. Shutterfly is a leading destination for online photo storage, printing, and sharing. The company recently integrated its popular iOS app with Facebook.
Meanwhile independence from Facebook put some zip into Zynga’s(NASDAQ: ZNGA) stock price today. Shares were up more than 5% after the company said that gamers can now enjoy Words with Friends and four of its other games on zynga.com, and not just on social media sites or through smartphone apps.
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