- Business review website Yelp is not living up to its potential, and immediate action – including a potential sale – should be taken, activist investor TCS Capital Management said Tuesday.
- “The purpose of this public letter is to express our serious concern and disappointment with the abysmal performance of Yelp’s stock price and to demand that the Board immediately explore strategic alternatives,” TCS Capital CEO Eric Semler wrote. “We believe that Yelp is shockingly undervalued and could be sold to either a strategic or private equity buyer for at least $70 per share – or more than a 120% premium to Yelp’s current stock price based on reasonable valuation assumptions.”
- Shares of Yelp jumped on the developments.
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Yelp Shares Spike On Activist Letter, Company Responds
