SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)*

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

	☐	Rule 13d-1(b)
	☐	Rule 13d-1(c)
	☒	Rule13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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CUSIP No. 985817105

1.	Names of Reporting Persons
	Max Levchin
2.	Check the Appropriate Box if a Member of a Group (see instructions)
	(a) ☐
	(b) ☐
3.	SEC USE ONLY
4.	Citizenship or Place of Organization
	United States
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power
			4,696,794 shares(1)
		6.	Shared Voting Power
			Not applicable.
		7.	Sole Dispositive Power
			4,696,794 shares(1)
		8.	Shared Dispositive Power
			Not applicable.
9.	Aggregate Amount Beneficially Owned by Each Reporting Person
	4,696,794 shares(1)
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions) ☐
11.	Percent of Class Represented by Amount in Row 9
	6.9%(2)
12.	Type of Reporting Person (see instructions)
	IN

(1)		Consists of (a) 2,005,037 shares of Class B Common Stock held of record by Mr. Levchin and (b) 2,691,757 shares of Class B Common Stock held of record by PENSCO Trust Company FBO Max Levchin. 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. All Class A and Class B Common Stock will convert automatically into 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.
		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), (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 or (iii) upon such date as is specified by the affirmative vote or written consent of the holders of at least 66 2/3% of the outstanding shares of Class B Common Stock.
(2)		Based on 63,062,071 shares of Class A Common Stock outstanding on December 31, 2014, as reported by the Issuer to the Reporting Person, plus the number of shares of Class B Common Stock held by the Reporting Person or affiliates of the Reporting Person, which are treated as converted into Class A Common Stock only for the purpose of computing percentage ownership of the Reporting Person.

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Item 1(a).		Name of Issuer: Yelp Inc.
Item 1(b).		Address of Issuer’s Principal Executive Offices: 140 New Montgomery Street, San Francisco, CA 94105
Item 2(a).		Name of Person Filing: Max Levchin
Item 2(b).		Address of Principal Business Office or, if none, Residence: The address and principal business office of the Mr. Levchin is:
		325 Pacific Ave., 2nd Floor
		San Francisco, CA 94111
Item 2(c).		Citizenship: Mr. Levchin is a United States citizen.
Item 2(d).		Title of Class of Securities: Class A Common Stock
Item 2(e).		CUSIP Number: 985817105
Item 3.		If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:

(a)		☐		Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);
(b)		☐		Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)		☐		Insurance company as defined in section 3(a)19) of the Act (15 U.S.C. 78c);
(d)		☐		Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)		☐		An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
(f)		☐		An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
(g)		☐		A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
(h)		☐		A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)		☐		A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)		☐		A non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J);
(k)		☐		Group, in accordance with §240.13d–1(b)(1)(ii)(K).
		If filing as a non-U.S. institution in accordance with §240.13d–1(b)(1)(ii)(J), please specify the type of institution: ____
Item 4.		Ownership

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

	(a)		Amount Beneficially Owned: 4,696,794 shares(1)
	(b)		Percent of Class: 6.9%(3)
	(c)		Number of shares as to which the person has:
			(i)		Sole power to vote or to direct the vote: Mr. Levchin: 4,696,794 shares(1)
			(ii)		Shared power to vote or to direct the vote: Not applicable.
			(iii)		Sole power to dispose or to direct the disposition of: Mr. Levchin: 4,696,794 shares(1)
			(iv)		Shared power to dispose or to direct the disposition of: Not applicable.

(3)		Based on 63,062,071 shares of Class A Common Stock outstanding on December 31, 2014, as reported by the Issuer to the Reporting Person, plus the number of shares of Class B Common Stock held by the Reporting Person or affiliates of the Reporting Person, which are treated as converted into Class A Common Stock only for the purpose of computing percentage ownership of the Reporting Person.
		Assuming conversion of all of the Issuer’s Class B Common Stock outstanding on December 31, 2014 into Class A Common Stock, the Reporting Person listed in Item 4 would hold 6.4% of the total outstanding shares of the Issuer. This percentage is based on the combined total of 72,920,582 outstanding shares as of December 31, 2014, which represents 63,062,071 shares of Class A Common Stock and 9,858,511 shares of Class B Common Stock.

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Item 5.       Ownership of 5 Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ☐.

Item 6.       Ownership of More than 5 Percent on Behalf of Another Person

Not applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

Not applicable.

Item 8.       Identification and Classification of Members of the Group

Not applicable.

Item 9.       Notice of Dissolution of a Group

Not applicable.

Item 10.       Certification

Not applicable.

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SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

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