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Yelp Plunges 11%, Halted After CEO Gives Up Trying To Find Buyer
Two short months ago, Yelp's share price collapsed following dismal earnings. Within days the company had an idea for pumping its stock back up - announce the investigation of a possible sale... Now weeks later, the CEO has been forced to admit: YELP CEO SAID TO DECIDE AGAINST FINDING A BUYER FOR NOW. We are sure there was just so much demand and that the company had so much organic growth ahead that he decided against it... traders are not amused - Yelp is down 8% and halted.
- *YELP SALE PROCESS SAID TO STALL
After the halt, Yelp is down 11%...
As Bloomberg reports,
Yelp Inc., which hired Goldman Sachs Group Inc. to find a buyer, has temporarily decided not to pursue a sale, people with knowledge of the matter said.
The consumer-review website has had several interested suitors but isn’t pursuing a transaction in the immediate future, the people said, asking not to be identified because the information is private. San Francisco-based Yelp may pursue a deal again if co-founder and Chief Executive Officer Jeremy Stoppelman changes his mind, one of the people said.
Yelp has a market capitalization of about $3.1 billion. The company’s shares have slumped 17 percent since May 8, the day after Bloomberg and the Wall Street Journal reported Yelp was working with a bank to explore a sale. Yelp hired Goldman Sachs after receiving takeover interest, one of the people said.
Kayleigh Winslow, a spokeswoman for Yelp, said the company doesn’t comment on rumor or speculation.
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From all the phony shit YELP publishes, one would think there would be a line of phantom bidders.
Yelp is absolute horseshit for businesses. I have a buisness....and these fucks harass the shit out of me to advertise...and if you don't pay them, they "Hide" the good reveiws, and post the not so good ones. We have 31 good reveiews that are "Filtered". If you go to the bottom of the page of most yelp businesses reveiws...down in the corner you can find a really small button that says "Filtered Reveiws". You click that...OH look...lots of good reveiws hidden from the main site. Then when they call, they say they can work with you to get your GOOD "Filtered" reviews taken out of the "Filtered" area. We even have customers come back for their 2nd or 3rd time and say "Did you see the review I left...thanking you for what you did..?" And there it is...lost in the "Filtered" section. This is blackmail. Fuck them...I hope they crash and burn just like Facefuck. They say this is NOT TRUE...but if you google this...you will see. I feel facebook is just like Gold and Silver but the opposite. Gold and Silver you just sit on...IT WILL GO UP...when? Who knows. You short Facebook....it will go down...when? Who knows? It will end up like myspace and all of the rest. Everyone I know has gotten bored with Facebook. That is my 2 cents. And if the CEO for YELP is here reading this......FUCK YOU!
You and all the other businesses getting extorted should file a class action lawsuit - you know cause you just want to help their share price out... File for like $13 billion in lost sales.. or some astronomical number..
For all the claims of Yelp calling business owners and saying this shit, you'd think that *one* of them would have the good sense to record it and upload it to Youtube, but somehow this never happens.
Yes, Yelp may be tumbling, but as long as solid/impotent AAA companies like FB, Uber, Cheese Truck Samwich Bizness and NFLX are booming who cares?
It's all about value, right?
"bubble, bubble, toil and trouble..."
or some shit like that...enjoy the second coming of the Dot.Crap bubble ya'll....
What does Yelp do, again?
And does it matter?
They blackmail companies to pay for "advertizing services" It only matters if your company loses 30% of its business because someone claimed they found a rat penis in their salad, and claim that you as the owner said bon appetit.
market descovery?
Stopelman, must be one of those "nice folks next door" (D. Irving copyright)
Nothing that Google doesn't do better.
<<<<<<<< What does Yelp do, again? >>>>>>>>>>>>>
Wait a sec ...
I thought they bottled ripe, nutritious young yelp from the pristine sea shores of Hawaii, freeze dry it and vacuum pack it and sell it in [overpriced] WF stores to health nuts?
No? Am I close?
Market out of greater fools? Help
Yelp down 13% now
How could this be? Its a tech company and we all know tech is powered by high grade unicorn pee......
The pump followed by the dump
The old joke of mind over matter; I don't mind and Yelp don't matter
Awww now look who just shit the bed.
yelp? I justed stepped on my dog's tail and he yelped...
I don't understand this, blackmailing small companies to pay for your advertizing service or face getting false bad reviews should be very lucrative.
Yelp is nothing more than a shake-down, pay-to-play scheme. Digital mafia bullshit.
So how much stock did insiders dump on the bullshit sale rumor?
Isn't that kind of thing supposed to be illegal?
Oh I forgot, not trying to manipulate your stock or lie on earnings reports is what is illegal now.
Its only illegal for the little people, or Martha Stewart. If you work in Congress or give them enough campaign contributions your exempted from little inconveniences like the law.
Stansberry's guys did some homework on Yelp and they found that most of Yelp's customers (businesses) described Yelp as an extortion racket. Yelp is not a company where the customers like being customers. Its customers feel like victims. You either pay Yelp to get negative reviews taken down or your business gets its reputation destroyed.
YELP, I've fallen and I can't get up!
"Kayleigh Winslow, a spokeswoman for Yelp, said the company doesn’t comment on rumor or speculation."
They just post it on their website under reviews.
YELP's Billion Dollar Bullies Documentary Trailer As Now Funded by KickStarter:
https://www.youtube.com/watch?feature=player_detailpage&v=l2dkJctUDIs
There is illegal extortion...and then there is legal extortion like what Yelp does. The silly public just doesn't know that a mouse dressed as duck may indeed be a duck.
The 9th Circuit said "nothing to see here...move along..." and actually gave Yelp adequate counsel to keep on doing what they were doing...complete with tips and advisement on how to proceed...wink, wink.
Do they sell dog food?
I looked at Yelp a couple years ago. All reviews were just trashing the restaurant. Then I read about Yelp extorting businesses & businesses trashing competitors. Never looked at Yelp again.
Yelp needs help.
Don't feel sorry for the insiders at Yelp. They did quite nicely selling their shares to the chumps that bought into the hype:
Insider Transactions in Yelp from 2013-2015
ANDERSON FRED D - Director 93,996,182
DEER VI & CO. LLC - Director 131,742,972
DONAKER GEOFFREY L - Officer 246,043,608
ELEVATION PARTNERS 3,715,496
FENTON PETER - Director 76,103,608
IRVINE DIANE - Director 92,700
KROLIK ROBERT - Officer 60,666,937
LEVCHIN MAX - Director 447,604,823
LEVINE JEREMY - Director 130,318,108
NACHMAN JOSEPH - Officer 160,749,465
STOPPELMAN JEREMY - Officer 411,187,254
WILSON LAURENCE - Officer 36,467,401
Grand Total 1,798,688,554
Detailed list of all transactions:
https://drive.google.com/file/d/0B51-74tGswAXTXZBMnI3Yk5qRkk/view?usp=sh...
Source: http://finance.yahoo.com/q/it?s=YELP
That Yelp is taken seriously by consumers shopping for _________________ is exhibit 26 that Idiocracy was a prophecy.