Re:Yelp Is Exploring a Sale
by igonvalue on Friday May 08, 2015 @07:34AM
(#9510973)
> By 2009, Yelp found itself in talks about a possible takeover by Google for at least $500 million, the Journal reported at the time.
An interesting bit of history is that the acquisition offer was scuttled when Yahoo put in a competing bid that Google could not match. Supposedly the management team did not want to work with Yahoo, but the board had a fiduciary duty not to accept an inferior deal, so both offers fell through.[0] In retrospect, it was a good outcome for Yelp; the market cap is now several times higher than either of the acquisition offers.
An interesting bit of history is that the acquisition offer was scuttled when Yahoo put in a competing bid that Google could not match. Supposedly the management team did not want to work with Yahoo, but the board had a fiduciary duty not to accept an inferior deal, so both offers fell through.[0] In retrospect, it was a good outcome for Yelp; the market cap is now several times higher than either of the acquisition offers.
[0] http://techcrunch.com/2010/10/01/the-ugliest-girl-at-the-dan...