No IPO in 2010, Yelp Says
Investors hungry for Yelp shares might have to dine elsewhere for now.
Jeremy Stoppelman, the co-founder and chief executive of the user-generated reviews site, said Thursday that it is unlikely to issue an initial public offering for “several years.”
Yelp “will definitely not go public this year,” he said. “2011, who knows? But why rush out the door if I can avoid it?”
There has been speculation about Yelp’s IPO prospects–and those of Silicon Valley companies in general–in recent months.
Venture-capital firm Elevation Partners invested in the company last month after it walked away from a Google (GOOG) offer worth more than $500 million.
Mr. Stoppelman declined to comment on the discussions with Google but said the newest round of private financing will allow Yelp to “grow the way we want and work on the things we say we’re going to work on.”