Yelp's Management Robs Investors Of A Fat Payday Because It Hates Yahoo

The Yelp-could-have-been-acquired-by-Google story just will not die.

It’s come back to life thanks to a report from Mike Arrington that Yahoo offered $750 million for Yelp last December. At the time Google was offering $550 million for Yelp, and wouldn’t go higher.

Yelp refused to take Yahoo‘s money because the management team didn’t want to join Yahoo. Yelp’s board didn’t take Google‘s money because it would be violating its fiduciary responsibility to stakeholders. 

So, Yelp basically did nothing. It eventually took money from Elevation Partners.

Maybe Yahoo is a crappy place to work, but really? Management rejects a $200 million premium? That strikes us as nuts.

BONUS: AOL CEO Tim Armstrong “Has Not Shied Away” From Idea Of Taking Over Yahoo

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