Yelp Walks Away from a Google Deal
I'll be damned! Jeremy WTF are you thinking?!?!?!?!
TechCrunch is reporting this morning that the Yelp CEO has told Google to shove it and walked away from a $550 million deal that would have finally given Yelp that much needed legitimacy it has never had as part of the creature called Google. And I'm stunned.
Jeremy Stoppleman, the CEO of Yelp, has walked away from an all-but-signed deal to be acquired by Google for more than half a billion dollars.
The deal was, as we wrote late last week, in the later stages of negotiation. The two companies had agreed on a price – around $550 million plus earnouts – and were working through the final details of the acquisition.
Then something happened that made Yelp reconsider the deal. Over the weekend they notified Google that they were not going to sell, say multiple sources.
Now what? Yahoo? LOL!
I guess the good news is that the Yelp/Google combo don't have to worry about those pesky regulators cockblocking their union now, and I wouldn't be surprised if that played into Yelp's decision to walk away. Or maybe Jeremy is delusional and actually believes he could do better than Google. Bwhahahahaha yeah ok.