![]() ![]() As it became more of an auction process where it felt like there was blood in the water and the sharks were attacking, it just felt like it wasn't going to end up with Yelp in a good spot. Yelp is my baby, so I wanted it to be in a place where it was going to thrive. Q: What was it like when Google tried to buy you?Ī: It was an emotional decision. The remarks have been edited for clarity and brevity. Stoppelman mused about Yelp's past and present during an interview with The Associated Press as the San Francisco company prepared to celebrate its 10 anniversary. Many other investors have profited too: Yelp's shares have more than quadrupled from their March 2012 initial public offering price of $15. Yelp's success has left Stoppelman, with company stock worth about $400 million. Yelp now boasts a market value of about $5 billion, even after the recent sell-off spurred by concerns about Yelp's slowing growth amid competition for online local advertising revenue from the Internet powerhouse such as Google and Facebook Inc. Many technology observers were incredulous back in late 2009 when Stoppelman and his backers rebuffed a buyout offer from Google Inc. Today, Yelp packs more than 61 million reviews of merchants in 27 countries in a service that attracts nearly 140 million monthly visitors. ![]() Skeptics initially scoffed at the idea that people would feed Yelp free reviews of local businesses. if he had paid more attention to the opinions of outsiders than his own insights. Stoppelman, 36, probably wouldn't be running Yelp Inc. CEO Jeremy Stoppelman didn't seem disturbed as he sat down to discuss Yelp's evolution in the 10 years since he began working on a way for people to share recommendations about local merchants with Russ Simmons, a fellow engineer he met while working at PayPal. ![]()
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