Online local reviews and social networking site Yelp.com has received a first round of venture funding, which this story estimates to be between $3million-$8 million. Bessemer Venture Partners led the round.
Based in San Francisco, Yelp features reviews that compile personal recommendations for things like restaurants, bars, spas, and even moving services. It also facilitates social networking between reviewers.
Yelp is one of three companies incubated by Max Levchin, co-founder of PayPal.
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