If his recent appearance on Charlie Rose is any indication, Yelp CEO Jeremy Stoppelman is still feeling pretty good about his decision to turn down a reported $500 million acquisition offer from Google four years ago.
In his interview with Rose, Stoppelman used terms like “chaos” and “struggling” to describe the tech giant’s local initiatives, which have spanned several acquisitions (Frommer’s, Zagat) and reinventions (Google Local became Google Maps became Google Places).
When Rose questioned Stoppelman about whether or not he was concerned about whether Google’s acquisition of Zagat, the esteemed restaurant reviews brand, would pose a serious threat to Yelp (20% to 30% of Yelp reviews are for restaurants), here’s what he had to say:
“Every six months to a year there’s a reinvention of what Google has been doing in the local space. You know, there’s just been change after change…They’re having trouble finding something that really works and something that they can stick with…And so it’s constant chaos over there.”
Stoppelman adds: “If you’re winning, usually it’s calmer waters. And the thing about Yelp is we’ve been doing the same thing for about nine years, so we feel pretty comfortable with our position.”