Yelp Announces New $250 million Share Repurchase Authorization After Completing Prior $200 million
Repurchase Program
Yelp Inc. (NYSE:YELP), the company that connects people with great local businesses, today announced the authorization of a new
share repurchase program to acquire up to $250 million of its outstanding common stock. This new authorization represents a 25%
increase over the previous $200 million share repurchase program authorized in July 2017, which was completed in November. The
company may repurchase shares at management’s discretion, with the amount and timing of any repurchases subject to liquidity, cash
flow and market conditions, among other factors.
“The increased share repurchase authorization reflects our continued confidence in Yelp’s financial strength and strategy,” said
Jeremy Stoppelman, founder and chief executive officer. “We are committed to generating sustainable, profitable growth and driving
shareholder value for Yelp’s investors over the long term.”
About Yelp
Yelp Inc. (www.yelp.com)
connects people with great local businesses. With unmatched local business information, photos and review content, Yelp provides a
platform for consumers to discover, interact and transact with local businesses of all sizes. Yelp was founded in San Francisco in
July 2004.
Forward-Looking Statements
This press release contains forward-looking statements relating to, among other things, Yelp’s future performance and plans that
are based on its current expectations, forecasts and assumptions and that involve risks and uncertainties. These statements
include, but are not limited to: statements regarding our strategy, including our ability to execute such strategy to generate
sustainable, profitable growth and drive shareholder value over the long term; our financial strength; and the implementation of
the new share repurchase program and purchase of shares thereunder.
Yelp’s actual results could differ materially from those predicted or implied and reported results should not be considered as
an indication of future performance. Factors that could cause or contribute to such differences include, but are not limited to,
Yelp’s:
- limited operating history in an evolving industry;
- ability to generate sufficient revenue to maintain profitability, particularly in light of its
significant ongoing sales and marketing expenses;
- ability to generate and maintain sufficient high-quality content from its users;
- ability to maintain and expand its base of advertisers, particularly as an increasing portion of
advertisers have the ability to cancel their advertising plans at any time; and
- ability to purchase shares under the share repurchase program, or the modification, suspension or
termination of that program.
Factors that could cause or contribute to such differences also include those factors that could affect Yelp’s business,
operating results and stock price included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in Yelp’s most recent Quarterly Report on Form 10-Q at
www.yelp-ir.com or the SEC’s website at
www.sec.gov.
Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available
to Yelp on the date hereof. Such forward-looking statements do not include the potential impact of any acquisitions or divestitures
that may be announced and/or completed after the date hereof. Yelp assumes no obligation to update such statements.
Yelp Inc.
Kate Krieger
415-266-3513
Investor Relations
ir@yelp.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20181128005755/en/