[ Yelp's S-1 includes this infographic showing its active presence in 43 U.S. markets and 22 markets abroad. ]

We love reading through IPO filings for information a company has not previously revealed, especially things other news stories leave out or gloss over.

Beyond the fact that Yelp is not profitable -- it had a net loss of $7.6M on net revenue of $58.4M in the first nine months of 2011 -- and that it received an average of 61M unique visitors per month in that same period, its S-1 most certainly has a few nuggets worth noting.

Yelp reported that more than half of its visits for the first nine months of 2011 came from Google. The S-1 included similar points about Google that CEO Jeremy Stoppelman made in his congressional testimony in September, namely, "Google has removed links to our website from portions of its web search product, and has promoted its own competing products, including Google’s local products, in its search results."

Yelp's app has been used on 5M "unique mobile devices," and the company sees mobile as an ideal platform for consuming info about local businesses. Beyond smartphones, Yelp plans to bring its content to automobile navigation systems, web-enabled televisions and voice-enabled mobile devices.

Although Yelp is in 22 international markets -- Canada and Western Europe so far -- it does not yet sell advertising in those markets nor does it have sales people abroad. It plans to start hiring such folks in 2012 and to spend $15M internationally next year: "The substantial majority of these expenses will be related to hiring an international sales force." The company will also continue its international expansion, but the S-1 did not name regions. [ We're betting its short list includes places like Dubai, Hong Kong and Singapore. ]

Yelp's "other services" revenue -- which includes Yelp Deals, sales of remnant ad inventory and revenue shares with Orbitz and OpenTable -- makes up the smallest part of its total take (9%). But this stream's growth far outpaces that of local advertising, which makes up 70% of revenue, and brand advertising (22%).

"Other services increased" over 600% from $745K for the first nine months of 2010 to $5.4M for the same period in 2011. Local advertising and brand advertising each grew 67% in the same period.

The S-1 doesn't say how much of "other services" comes from Yelp Deals, but considering that Yelp only began testing its deals in September 2010, we think they account for a good chunk of that $5.4M even though deals suffered a drop in revenue as competition in the deal space heated up this year.

CONTACT INFO

Yelp
Website: http://www.yelp.com
Twitter: @yelp
Facebook: https://www.facebook.com/yelp
Blog: officialblog.yelp.com

Jeremy Stoppelman
Twitter: @jeremys
LinkedIn: http://www.linkedin.com/in/jeremystoppelman

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