Yelp used to be synonymous with quality reviews that helped people choose where to eat, shop, and get their spray tans. Now, the company, which once sold share of its stock for $98.04, is holding their share prices steady at $24. And the change in price is very drastic. That $98.04 figure? Those were Yelp’s share prices just last year!
According to Business Insider, there are two things that are very wrong with the company right now. Besides the fact that stock prices are dropping, BI reports that Yelp has missed its earnings numbers for another quarter and that Max Levchin, the company’s chairman, is leaving for greener pastures to “pursue other interests.”
What does this mean for the Internet’s most popular website to whine about that one really inconsequential thing that made your dining experience even a little bit less than perfect? No one knows yet, but experts are predicting that there’s no way the company can pull itself out of this slump.
(Via Business Insider)
