Deals
Yelp Investor Says Shares Could Almost Double, Urges Changes
- SQN Investors prepared to launch proxy fight, or push for sale
- User-review company says it’s looking for board candidates
The Yelp Inc. application is displayed for a photograph.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
One of Yelp Inc.’s largest investors thinks the user-review website’s shares could almost double and is prepared to launch a proxy fight if the company doesn’t follow its recommendations to improve performance.
SQN Investors LP, a technology-focused investment firm that says it owns more than 4 percent of Yelp, said in a presentation that the company could create significant value for investors either by fixing its problems or by selling itself.