Joho Capital, founded by investing Guru
, reported adding onto its stake in online search and review
site, Yelp (
), on Jan. 18, according to
GuruFocus Real Time Picks
. Representing an 8.94 percent increase, this was the firm's
first time buying shares of Yelp since the stock joined Joho's
portfolio a month ago.
Increasing by 80,000 shares, the recent buy places Joho at 5.73
percent owner of Yelp's outstanding shares.
Founded in 2004, San Francisco-based Yelp establishes online
communities that actively review local businesses, serving as a
word-of-mouth centered guide for users. The site has posted over
33 million local reviews, and had an average of 84 million
monthly unique visitors reported in the third quarter of 2012.
When Joho first acquired Yelp, the stock traded around $18, and
was down 0.85 percent. This morning, Yelp's price is $20.30, and
up 0.15 percent from the previous trade day. (
Joho Capital Acquires Yelp
At the time, Yelp's competition with other local discovery
applications was particularly heightened. Facebook (
) had just announced its new feature, the "Nearby" application,
which enabled users to find local spots that their friends have
recommended, checked into, or liked via Facebook. Additionally,
large media operator Liberty Interactive Corp. (LINTA, LINTB,
LVNTA, LVNTB) had just acquired Yelp competitor, TripAdvisor (
), while fellow rival Foursquare continues to add to its
Though Yelp faces growing competition, it has expanded
drastically since its $15 initial public offering in March 2012.
Besides soaring in market value, the company has launched
operations in such locations as Denmark, Sweden, Finland,
Singapore, Turkey and the UK.
Over the months, insiders have taken advantage of its growth,
continuously selling shares from September through January.
Besides Joho Capital, other Gurus who have stake in the company
and Tom Russo.
Out of Joho's 11 stocks, its top holdings are Google Inc. (
), Estee Lauder (
), Mead Johnson Nutrition Company (
) and New Oriental Education & Technology Group (
To view Robert Karr's recent trades, visit his latest stock
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top growth stocks.
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