Vendredi, 01 Octobre 2010 09:14
The Ugliest Girl At The Dance: How Yahoo Destroyed Yelp’s Google Acquisition
A fascinating footnote to the failed Google acquisition of Yelp last December: a Yahoo counteroffer killed the deal, say two source with knowledge of the situation.
As of December 17 Yelp was in the final stages of negotiations to sell to Google for $550 million. But just three days later the deal was off.
So what happened during those three days? Yahoo came in with an offer to buy Yelp for $750 million – $200 million more than Google had offered. Yelp, via their investment bank, asked Google if they wanted to match it. Google declined, and one source says they didn’t actually believe that there actually was a competing offer.
Here’s where things got interesting. The Yelp management team apparently refused to work for Yahoo and wanted to take the Google offer. The Yelp board of directors, faced with a fiduciary duty to act in the best interests all stockholders, couldn’t approve a Google deal when a competing deal was available at a $200 million higher price.
So with the Yelp management team refusing to take the Yahoo offer, and the Yelp board of directors unable to accept the Google offer, everything froze and a deal never happened.
The NY Times discovered many of these details on December 21 last year, but either didn’t know or didn’t name Yahoo as the competing buyer. And there are supposedly people at Google who still believe Yelp actually never had a competing offer at all and simply over negotiated. Our sources, however, swear the Yahoo offer was very real.
If Yahoo did make the counter offer the whole situation is a sad reflection on the company. Even with the Yelp management team knowing that they couldn’t take the Google offer, they still walked from a huge sale just because they couldn’t stomach working at Yahoo. Foursquare apparently made a similar decision just a few months later, walking away from a $100 million or so Yahoo offer even though they new Facebook would soon jump squarely into their market.
The saddest part of the story is this – things have only gotten worse at Yahoo since then. There isn’t really a whole lot left to say. Stick in a fork in this one – it’s done.
CrunchBase InformationYelpYahoo!GoogleInformation provided by CrunchBase
0
0
1
1
2
2
3
3
4
4
5
5
6
6
7
7Authors: Michael Arrington
Read 5595 times
Published in
News Technologique-Tech News
Last WebBuzz
-
WebBuzz du 24/11/2017: Pérou décoller comme superman-Peru Reverse bungee aka Superman Jump
Read 37610 times
-
WebBuzz du 22/11/2017: Une Femme Saoudienne fait du surf dans les rues-Saudi girl Car Surfing after heavy rains and flood in Saudi Arabia
Read 37971 times
-
WebBuzz du 20/11/2017: Maxi crach au grand prix GT à Macau-Huge pile up Crash 2017 Macau Grand Prix FIA GT World Cup
Read 32874 times
-
WebBuzz du 17/11/2017: Boston Dynamics fait le cirque avec ses robots-BD prepare to build a circus with his robots
Read 35616 times
-
WebBuzz du 16/11/2017: Une illusion d'optique féminine-a feminine optical illusion
Read 33704 times
-
WebBuzz du 14/11/2017: Roumanie un bus de police évite un tram de justesse-Close call between a tram and police's bus
Read 30325 times
-
WebBuzz du 13/11/2017: Arrivée fracassante d'un bateau sur les docks de San Diego-Whale Watching Boat Crashing Into San Diego Dock
Read 28599 times
-
WebBuzz du 08/11/2017: Créer des flammes de toutes les couleurs-How to make colourful flames
Read 29466 times
-
WebBuzz du 07/11/2017: Echec test du système de détection des piètons de la Volvo S60-Volvo S60 Pedestrian Detection System Test failed
Read 30671 times
-
WebBuzz du 03/11/2017: Slacker dans la forêt-slackline in the forest
Read 33124 times
accident
Amazing
animal
animals
animaux
art
avec
baby
car
Cat
chat
chien
comment
Crazy
Cute
dans
Dog
droles
Echec
fail
fait
From
funny
how
jump
musique
nature
new
people
plus
pour
route
russia
russie
saut
sauvage
Sport
stupid
sur
Technique
The
usa
vehicules
video
video du jour
videos
voiture
webbuzz
wild
with