Yelp, the locally based creative outlet for many a bored foodie, is finally going public. After turning down a $500 million buyout from Google last year, the local reviews site has filed for a 2012 initial public offering that should raise around $100 million and put the company's value somewhere around $2 billion.

Buyer beware here: Most of Yelp's income comes from local advertising, which some local business owners have called extortion. And after losing $7.6 million in the first three quarters in 2011, the company still isn't profitable.

The Yelp IPO comes after a few other local startups have gone public. Mountain View-based social network LinkedIn went public back in May, shooting from $45 per share at the onset to $94.25 by the closing bell. Demanding local social gaming company Zynga, is also on the verge of going public depending on if the staff decides they are OK with giving up their soon-to-be valuable stock options.

[SEC Filing]
[Mashable]