XNYS:YELP Yelp Inc Class A Insider Activity 3 Filing - 3/1/2012

Effective Date 3/1/2012

XNYS:YELP (Yelp Inc Class A): Fair Value Estimate
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XNYS:YELP (Yelp Inc Class A): Fair Value Uncertainty
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XNYS:YELP (Yelp Inc Class A): Economic Moat
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XNYS:YELP (Yelp Inc Class A): Stewardship
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FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Benchmark Capital Management Co. V, L.L.C.
2. Date of Event Requiring Statement (Month/Day/Year)
03/01/2012
3. Issuer Name and Ticker or Trading Symbol
YELP INC [YELP]
(Last)
(First)
(Middle)
2480 SAND HILL ROAD, SUITE 200
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed (Month/Day/Year)
(Street)

MENLO PARK, CA 94025
6. Individual or Joint/Group Filing (Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Series C Converitble Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 24,689,270 (1) I See Footnote(5)
Series C Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 3,025,390 (1) I See Footnote(6)
Series C Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 579,250 (1) I See Footnote(7)
Series C Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 455,800 (1) I See Footnote(8)
Series C Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 32,288,630 (1) I See Footnote(9)
Series D Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 1,021,340 (1) I See Footnote(5)
Series D Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 125,150 (1) I See Footnote(6)
Series D Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 23,960 (1) I See Footnote(7)
Series D Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 18,860 (1) I See Footnote(8)
Series D Convertible Preferred Stock   (1)   (2) Class B Common Stock(3)(4) 1,335,710 (1) I See Footnote(10)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Benchmark Capital Management Co. V, L.L.C.
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
Benchmark Capital Partners V L P
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
BENCHMARK FOUNDERS FUND V LP
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
Benchmark Founders Fund V-A LP
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
Benchmark Founders Fund V-B LP
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
BALKANSKI ALEXANDRE
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
HARVEY KEVIN
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
KAGLE ROBERT
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
DUNLEVIE BRUCE
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    
GURLEY J WILLIAM
2480 SAND HILL ROAD, SUITE 200
MENLO PARK, CA 94025
    X    

Signatures

/s/Steven M. Spurlock, as managing member of the GP of Benchmark Capital Management Co., V, L.L.C. 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M Spurlock, as managing member of the GP of Benchmark Capital Partners V, L.P. 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M. Spurlock, as managing member of the GP of Benchmark Founders' Fund V, L.P. 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M. Spurlock, as managing member of the GP of Benchmark Founders Fund V-A, L.P. 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M. Spurlock, as managing member of the GP of Benchmark Founders Fund V-B, L.P. 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M. Spurlock, by power of attorney for Alexandre Balkanski 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M. Spurlock, by power of attorney for Kevin Harvey 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M. Spurlock, by power of attorney for Robert C. Kagle 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M Spurlock, by power of attorney for Bruce Dunlevie 03/01/2012
** Signature of Reporting Person Date

/s/ Steven M. Spurlock, by power of attorney for J. William Gurley 03/01/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The Series C and Series D Convertible Preferred Stock shall automatically convert into Class B Common Stock on a one-for-four basis in connection with the completion of the Issuer's initial public offering of Class A Common Stock.
(2) Not applicable.
(3) Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock and has no expiration date. Class B Common Stock will convert automatically into Class A Common Stock on the earlier of (i) the date on which the number of outstanding shares of Class B Common Stock represents less than 10% of the aggregate combined number of outstanding shares of Class A Common Stock and Class B Common Stock and (ii) seven years following the effective date of the issuer's initial public offering.
(4) In addition, each share of Class B Common Stock will convert automatically into one share of Class A Common Stock (i) upon any transfer, whether or not for value (subject to certain exceptions), or (ii) in the event of the death or disability (as defined in the amended and restated certificate of incorporation of the issuer) of the reporting person.
(5) Shares are owned directly by Benchmark Capital Partners V, L.P. ("BCP V").
(6) Shares are owned directly by Benchmark Founders' Fund V, L.P. ("BFF V").
(7) Shares are owned directly by Benchmark Founders' Fund V-A, L.P. ("BFF V-A").
(8) Shares are owned directly by Benchmark Founders' Fund V-B, L.P. ("BFF V-B").
(9) Benchmark Capital Management Co. V, LLC ("BCMC V"), the Designated Filer and general partner of each of BCP V, BFF V, BFF V-A and BFF V-B, may be deemed to have the sole voting and dispositive power over 32,288,630 shares of the Issuer's Series C convertible preferred stock. BCMV and each of its managing members disclaim beneficial onwership of these shares except to the extent of any pecuniary interest therein, and the filing of this report is not an admission that BCMC V and each of its managing members is the beneficial owner of these shares for purposes of Section 16 or any other purpose.
(10) BCMC V, the Designated Filer and general partner of each of BCP V, BFF V, BFF V-A and BFF V-B, may be deemed to have the sole voting and dispositive power over 1,335,710 shares of the Issuer's Series D convertible preferred stock. BCMV and each of its managing members disclaim beneficial onwership of these shares except to the extent of any pecuniary interest therein, and the filing of this report is not an admission that BCMC V and each of its managing members is the beneficial owner of these shares for purposes of Section 16 or any other purpose.
 
Remarks:
Alexandre Balkanski, Bruce W. Dunlevie, J. William Gurley, Kevin R. Harvey, Robert C. Kagle, Steven M. Spurlock, Peter H. Fenton and Mitchell H. Lasky are the managing members of BCMC V, which serves as the general partner to each of BCP V, BFF V, BFF V-A and BFF V-B.  Each reporting person disclaims the existence of a "group" and discliams beneficial ownership of any securities except to the extent of such reporting persons' pecuniary interest in such securities.  *This report is one of three reports, each on a separate Form 3, but relating to the same transaction being filed by BCMC V, its managing members and the Benchmark V Funds.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

XNYS:YELP Yelp Inc Class A Insider Activity 3 Filling

Yelp Inc Class A XNYS:YELP Stock - Get Insider Activity SEC Filing of Yelp Inc Class A XNYS:YELP stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

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XNYS:YELP Yelp Inc Class A Insider Activity 3 Filing - 3/1/2012
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