We recently talked about the possible acquisition of Yelp by Google for half a billion dollars. It is being reported that everything was agreed upon and the deal was ready to be signed but Yelp CEO Jeremy Stoppleman reportedly has turned down the offer.
No reason has been provided so far as to why Stoppleman suddenly had a change of mind. This is surprising since there are no reports of other potential buyers. Speculation suggests Yelp might try to stay independent by forming strategic partnerships with Microsoft or Apple.
Whatever the case, Stoppleman must have a pretty good reason to walk away from a $550 Million deal.