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Yelp went public in 2012 and priced its stock higher than it should have, and the company has been trading lower starting in March 2014, when shares were selling at $97. Six years ago, Google was reportedly interested in buying the company for $500 million, but CEO and founder Jeremy Stoppelman and his board voted against the deal. In fact, it’s possible Yelp will decide against a sale. However, a deal isn’t expected any time soon, a Journal source said. Thanks to its market capitalization estimate of $2.9 billion, Yelp could command as much as $3.5 billion in a sale. Google is reported to be one of the companies interested. In a story that was updated May 7, the Journal reported that the San Francisco-based Web company is working with investment bankers and has been in touch with potential buyers in recent weeks.
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In a classic Wall Street knee-jerk trading scenario, product-and-service review site had its stock trading on the New York Stock Exchange stopped early May 7 after the price spiked up about 15 percent, based on a Wall Street Journal report that the company was talking to potential suitors about selling itself.Īfter trading was re-opened later in the day, Yelp’s stock zoomed up a whopping 23 percent and closed at $47.01, up $8.79 from the previous close of $38.22.