SAN FRANCISCO - Yelp Inc. (NYSE: NYSE:YELP), a platform that connects consumers with local businesses, announced the addition of Dan Jedda to its Board of Directors, effective tomorrow. Jedda, the current chief financial officer of Roku (NASDAQ:ROKU), Inc., will replace George Hu, who is departing after over five years, including a role on the Compensation Committee.
Dan Jedda's appointment aligns with Yelp's ongoing expansion and enhancement of its product offerings. Yelp's CEO, Jeremy Stoppelman, expressed confidence in Jedda's financial strategy expertise, which is expected to support Yelp's strategic initiatives and investment in its product roadmap, especially in services.
Jedda brings extensive financial leadership experience, having held the CFO role at Roku since May 2023. His prior positions include CFO at Stitch Fix (NASDAQ:SFIX), Inc., and various leadership roles at Amazon.com (NASDAQ:AMZN), Inc., where his contributions spanned the digital video, digital music, and advertising sectors.
Jedda's academic credentials include a B.S. in accounting and finance from the University of St. Thomas and an M.B.A. from the University of Minnesota.
Diane Irvine, chair of the Yelp Board, praised Jedda's track record in business growth and innovation, stating that his skills are well-matched with Yelp's ambitions. Irvine also acknowledged George Hu's significant contributions to Yelp's progress and wished him well in his future endeavors.
In his statement, Jedda expressed enthusiasm about joining Yelp's Board and contributing to the company's mission of fostering a vibrant community for businesses and consumers. Yelp, founded in 2004, has become a trusted brand for finding reliable local business information, reviews, and photos, and facilitates consumer transactions with local businesses across various categories.
This announcement is based on a press release statement from Yelp Inc. and marks a strategic move for the company as it continues to focus on growth and product development.
InvestingPro Insights
As Yelp Inc. (NYSE: YELP) welcomes Dan Jedda to its Board of Directors, the company's financial health and market performance remain key interests for investors. Yelp's strategic focus on growth is reflected in its financial metrics, with a notable 12.03% revenue growth over the last twelve months as of Q4 2023. This growth is complemented by an impressive 91.46% gross profit margin in the same period, highlighting the company's ability to maintain profitability while expanding its services.
Investors might find Yelp's current valuation attractive, as the company holds a P/E ratio of 21.69 adjusted for the last twelve months as of Q4 2023, indicating a potential undervaluation relative to near-term earnings growth. Additionally, Yelp's commitment to returning value to shareholders is evidenced by an aggressive share buyback program, as noted in one of the InvestingPro Tips.
For those considering a deeper dive into Yelp's financials, InvestingPro offers further insights, including the fact that Yelp holds more cash than debt on its balance sheet and that analysts predict the company will be profitable this year. Interested readers can find more detailed analysis and a total of 10 InvestingPro Tips on Yelp's financial health and market performance at https://www.investing.com/pro/YELP. To enrich your investment research experience, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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