Our first reaction to this news was disbelief.
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.
Separately, we’ve also heard Microsoft took Yelp’s temperature and found it cold.
Heads up! A Google deal could still happen. Yelp and its investors may be playing hard to get hoping to drive Google’s price yet higher. Certainly, we’ve all seen that the company is willing to shell out big cash when it needs to. (See: $750 million for AdMob.)
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