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I think the point he was trying to make is that the offer from Yahoo only will go through if Yelp brings their team with them. If the management bails, Yahoo wo
by zumda 16y ago
I think the point he was trying to make is that the offer from Yahoo only will go through if Yelp brings their team with them. If the management bails, Yahoo won't buy Yelp.
This is pretty common, since it is an easy way to get talent into the company without all the recruiting.
- michael_dorfman 16y agoI understand that. The point I am making as that Yelp was obligated to consider the offer (even if it ultimately was doomed). In this case, that caused Google to bail, and Yelp was screwed-- but not because their board screwed up. The board only did what they had to do.
- bambax 16y agoBut as part of their diligence to consider the Yahoo offer, could they not have come to a conclusion such as this one: "given the fact that the management won't go, and that Yahoo won't buy Yelp without a management team, it follows that the Yahoo offer is void and nonexistent. So, let's pursue the Google offer"...? If for example I offered 3 trillion dollars for Yelp, would the board consider my offer (as opposed to laughing it off)? I guess my question is, What is the "reality threshold" of an offer?