Yelp Inc., the renowned platform connecting consumers with local businesses, has announced the appointment of Dan Jedda, current Chief Financial Officer of Roku, Inc., to its Board of Directors. Jedda's appointment comes as Yelp focuses on expanding its product offerings and enhancing its financial strategy to support strategic initiatives.
With over two decades of financial leadership experience, Jedda brings a wealth of expertise to Yelp's board. Prior to his role at Roku, where he has served as CFO since May 2023, he held the CFO position at Stitch Fix, Inc., and contributed significantly to various sectors at Amazon.com, Inc., including digital video, digital music, and advertising.
Jedda's academic background includes a bachelor’s in accounting and finance from the University of St. Thomas and an MBA from the University of Minnesota. His extensive experience and academic credentials position him as a valuable addition to Yelp's board, particularly as the company continues to pursue growth and innovation in its product offerings.
Jeremy Stoppelman, CEO of Yelp, expressed confidence in Jedda's financial strategy expertise, noting its alignment with Yelp's strategic initiatives and investment in its product roadmap. Diane Irvine, Chair of the Yelp Board, praised Jedda's track record in business growth and innovation, emphasizing his skills' alignment with Yelp's ambitions.
Jedda, in his statement, expressed enthusiasm about joining Yelp's Board and contributing to the company's mission of fostering a vibrant community for businesses and consumers. His appointment marks a strategic move for Yelp as it continues to focus on growth and product development.
Founded in 2004, Yelp has established itself as a trusted brand for finding reliable local business information, reviews, and photos. The platform facilitates consumer transactions with local businesses across various categories, contributing to its status as a leading platform in the industry.
The addition of Jedda to Yelp's Board of Directors underscores the company's commitment to strengthening its financial strategy and driving growth. Investors are likely to take note of Yelp's financial health and market performance, particularly with a rough 12% revenue growth over the last twelve months and an impressive 91.5% gross profit margin in the same period as of Q4 2023.
Investors may also find Yelp's current valuation attractive, with a P/E ratio of 21.69 adjusted for the last twelve months as of Q4 2023, indicating potential undervaluation relative to near-term earnings growth. Moreover, Yelp's commitment to returning value to shareholders is evident through its aggressive share buyback program.
For those interested in a deeper dive into Yelp's financials, InvestingPro offers further insights, including Yelp's favorable cash-to-debt ratio on its balance sheet and analysts' predictions of profitability for the company this year. As Yelp continues to evolve and innovate, Jedda's appointment signals a strategic move towards bolstering its financial strategy and driving sustained growth.
