Why would Yelp’s investors allow Jeremy to turn down a $550 million deal when the company’s revenues are only in the tens of millions of dollars?
But our source tells us investors are the ones most opposed to selling.
They speculate that Microsoft inquired but also was rebuffed and that a deal with Google could still happen.
I could be way off, but I think running Yelp as a public company would be tough. But as a public company Yelp would change out of necessity I suppose.
The board would probably want a more Wall-Street-Friendly CEO and the company would need to find a strategy to grow revenues substantially and keep them growing; it would need to turn into a version of ReachLocal in essence.
The Yelp brand is very strong and they’ve built a terrific entity. But I probably would have taken the money.