Yelp says no to Google

By : Administrator
Published 22nd December 2009 |
Read latest comment - 24th December 2009

So Yelp.com says no to being bought out by Google for $550 Million

Blimey, the CEO has got balls of steel. But what makes it worth so much, and why did the CEO, Jeremy Stoppleman turn it down? The business reports to make $30 million per year from one report I saw, so how does that translate to a half a billion asking price?


It's a crazy world...

Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn
Comments
forum avatarbiz-angel
22nd December 2009 4:40 PM
But what makes it worth so much, and why did the CEO, Jeremy Stoppleman turn it down?

Was reading an article somewhere that Google's price is based on Yelps database, as Google wants to incorporate a huge review based database into their local search.

There was also an interesting theory that maybe the CEO turned down the offer due to contractual commitments to previous rounds of Venture Capital Funding, which have been around $31 million

No doubt the truth will emerge in the New Year

So how long before we see the Google logo on My Local Services?

So how long before we see the Google logo on My Local Services?

Biz-Angel you beat me to it.

Stavros

So how long before we see the Google logo on My Local Services?

shhhhh... no ones supposed to know....

Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

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