Review, Yelp | featured news

YelpInc., the online review website, has picked Goldman Sachs Group Inc. and Citigroup Inc. to lead an initial public offering that could value the company at up to $2 billion, according to people familiar with the plans. Yelp intends to file its IPO plans publicly within the next few weeks, said one person familiar with the matter. It's aiming to complete the sale in the first quarter, though timing may change with market conditions, the person said.

The founders of Zagat Survey hope that the rise of apps will help prove its pay model correct... But in the next breath, most of them wonder why Zagat hasn’t won on the Web. The review site Yelp, for example, which made its debut in 2004, draws much more traffic.

Small businesses have complained about how Yelp chooses and ranks reviews. Yelp is responding with changes to the site.