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Scott Ryan

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  • Yelp's CFO Presents at Citi Global Technology Conference - Special Call Transcript [View article]
    Nice interview. Some new believers added to the fold today. Short-sellers are too obstinate to see the forest through the trees. They will be destroyed. Yelp will ironically have short hedge fund managers and amateurs waiting the very tables Yelp reviewers review. These waiters will not have a smile on their faces.

    Executing well globally and domestically. Embrace the $8-$10 Billion market cap; ultimately that is conservative. I put this valuation -longer term- in the PCLN range, significantly higher than my $8-$10 Billion target.

    As I wrote on 8/4...
    Why Yelp Is Still By Far Undervalued
    http://seekingalpha.co...
    Sep 4 01:06 PM | Likes Like |Link to Comment
  • Why Yelp Is Still By Far Undervalued [View article]
    Nice interview at Citi Global Technology Conference. Some new believers added to the fold today. Executing well globally and domestically. Embrace the $8-$10 Billion market cap; ultimately that is conservative. I put this valuation -longer term- in the PCLN range, significantly higher than my $8-$10 Billion target.
    Sep 4 01:00 PM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    LOL, how noble you are Trainer. You assert that I am being "dishonest" to an apparently civil reader who asked me a question, then you write "I regret you took personal offense at my remarks" (after accusing me of dishonesty to one of my readers). Your inability to comprehend basic sense does not make it false or dishonest. I would agree to cease casting my pearls before you but they were not intended for you and your opinion was not solicited from the beginning. But we can definitely agree to disagree.
    Sep 3 12:59 PM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    Nearly - every time - I am looking for a product or service on Google, I am "comparison shopping".

    "I have my own reaction as well as the feedback of our chamber members regarding Yelp's value to the independent business....I can attest that none of our members advertise on Yelp. In fact, it is a laughing stock among small business people. " - Trainer

    Talk about annoying, as one who owns multiple private retail businesses in addition to public companies, I can tell you that the local Chamber is what is annoying. Talk about the pot calling the kettle black! Yelp a "laughing stock" among local businesses? Among my circle of successful professionals, it is these Chamber meetings that consist of a bunch of business "card jamming" insurance agents, there primarily to solicit our business who are the laughing stock. Your friends who have all this- time- to discuss Yelp probably cannot afford to advertise on Yelp. But actually, I seriously doubt the validity of what you are saying.

    Business people out there in the trenches do not have time to go to Chamber of Commerce meetings so a bunch of white shoe insurance agents and Amway salesmen can circle us like a bunch of ravenous wolves. Why would we want to pay for that useless membership?

    You use the word "dishonest" in your description of my post; however, it is your contention that you have no short position in Yelp that is highly dubious. But despite your claim to the contrary, who would know since you hide behind a pseudonym?
    Sep 3 12:06 PM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    It's fairly easy to go to Yelp.com and see -exactly- how they are monetizing. The 69% revenue increase last quarter is fairly indicative as well. The 89% conversion rate...

    I have personally advertised through Google with a couple different businesses and have had plenty of success with it. In fact, I have a campaign running with Google right now. Last I checked, over 90% of Google's rev comes from - advertising. When I and hundreds of thousands of other businesses advertise on Google, people are searching on a search engine - for something. Then - the ads I pay to run come up on the page, separate from the search results - yet - despite consumers knowing my ads were ads - they still clicked on them and plenty of them purchased.

    YELP, runs paid ads on their site to which hundreds of millions visit - looking for restaurants (among other things) - and... Yelp is becoming the dominant player in the combined trillion industries... lots of ad revenue to be procured... still a much smaller market cap relative to the industries to which they cater most...

    I think some investors really over complicate things sometimes. That's what often makes the difference. Some see it, some don't - but those who don't - will see it- in their hindsight glasses when the market cap is $8-$10 billion and growing. They just won't make money from it.



    Regards,

    Scott
    Sep 2 10:54 PM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    Thank you for sharing ertingwa. I'm not surprised by your experience. I would agree that Yelp is stronger on the Kung Pao Chicken. I have written a few articles on Yelp and my main thesis is that Yelp is dominant in restaurants and entertainment. Those just happen to be combined trillion dollar industries. That gives them a great deal more potential revenue that they will no doubt continue to procure. Only a diminutive percentage of that can put them into the $8-$10 billion market cap I believe they will obtain.

    Of course they will earn money from other sectors like contracting, medical, lodging, etc. Those would be gravy. My other contention is that I believe Angie's has a place (if - they can survive - as you being a business owner know that they have to make a profit at some point) but that will be less than the current market cap will demand. That's why I believe they are rationally a $300 million company at best. There would reach a point where the ad revenue taps out and the potential is much lower than that of Yelp.

    So, I wouldn't doubt that you are getting results with them and have no personal beef with Angie's. It's more about valuation with me.

    Aug 31 12:12 AM | Likes Like |Link to Comment
  • Angie's List: Unenviably Positioned In A Brutal Macro Environment [View article]
    I think the catalyst is - no legitimate basis to be sanguine from the perspective of basic business sense. I am always careful to say "basic sense" as opposed to "common" as the current market cap of ANGI proves that combination of words to be a misnomer.
    Aug 30 11:49 AM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    I -did- buy it again for less after that column. Then I sold half yesterday and want to buy it back today. This goes against my fundamentalist philosophy because I know it is undervalued based upon what I know the company is going to rapidly grow into, an $8-$10 BILLION company at minimum, quite possibly more.

    I didn't risk being altogether locked out of YELP yesterday since I kept half my position but knowing how these amateur short- sellers think, I figured I would -risk a little- long term potential by locking in some gains yesterday. To me, the real risk is missed opportunity. Taking short-term profits (on half of my position) on Yelp was a risky move on my part.
    Aug 30 11:19 AM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    Bring it YELP shorts. Take us back down to the $40s again. I want to buy some more like you wouldn't believe. I will gladly take your money! Make my Labor Day weekend - will you? :)
    Aug 30 10:43 AM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    Nice to hear from you J. I like what you are saying and do not disagree with your points.
    Aug 29 03:19 PM | Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    Do you mean "zero quality control" because people can go on there and accuse companies of being a "scam" - ed23?

    I like the free market and this is word of mouth. There is no way that a site like this should be quelled by regulation; however, I do believe that reviewers can be required to prove they are who they say they are - and should be subject to slander and libel if they are fabricating stories.

    If people are required to have verifiable profiles, that can solidify their credibility. Yelp is making great strides at verifying and the many reviews I have read are written by people who have long track records there, bios and photos.

    If reviewers know they can be held legally accountable, that would help to assure they can substantiate their claims. Whether someone likes the taste of the food or not is subjective but there can be cases where a restaurant owner could prove malice and fabrication.

    Just last week there was one such case in which a disgruntled Groupon salesman threatened a restaurant owner who hung up on him - threatened to have his friends write bad reviews.
    Here’s the link: http://bit.ly/149DcOe

    In this case, if the veiled threat had been carried through, it would be quite possible for the restaurant after seeing a slew of dubious reviews, to trace them back to this threat by the salesman. The owner could feasibly prove that these people had not even patronized his establishment and then held these people accountable.

    I would not at all be in favor of holding Yelp accountable since they are not employing these reviewers but it would Groupon might be liable since the rogue employee was doing this on their watch. Yelp just provides a forum.

    At the very least, it might be worth seeking prosecution against false reviewers as that would indeed be vandalism along with libel in my opinion.

    If people know they are risking being held accountable legally for their reviews, I think we will see people in general become more circumspect.

    Another example of libel and vandalism that could be abated would be that written by people who make public, written accusations, acusing corporations of running a “SCAM”, which is illegal activity.
    Such accusations are protected, 1st Amendment speech – if it is true.

    If such writers are defaming companies and CEOs – WITHOUT PROOF, that is not protected speech. Those companies and executives may have a fiduciary obligation to their shareholders to sue the slanderers (slanderers who may be doing so because they are short the shares of the companies they are lambasting) in order to protect the company's good reputations.

    Just some thoughts.
    Aug 28 10:04 PM | Likes Like |Link to Comment
  • Angie's List: Unenviably Positioned In A Brutal Macro Environment [View article]
    You have a - broker? It doesn't sound like you need one. Is it philanthropy on your part?
    Aug 27 11:30 PM | Likes Like |Link to Comment
  • Angie's List: Unenviably Positioned In A Brutal Macro Environment [View article]
    Mintzmyer..

    http://bit.ly/18iB8of
    Aug 27 02:08 PM | 2 Likes Like |Link to Comment
  • Angie's List: Unenviably Positioned In A Brutal Macro Environment [View article]
    Yes, like I said, it's Classmates.com all over again. Irrelevant. I wouldn't want to be an analyst responsible for hyping this obsolete company to the clients of my firm just so they can get more investment banking business from Angie.
    Aug 27 01:20 PM | 4 Likes Like |Link to Comment
  • Yelp Is To Angie's List What Facebook Was To Classmates.com [View article]
    Thank you for writing Michael. I will not take issue with your (or Mintzmeyer's) projections. My valuation was more of a "best case scenario".

    It is great that you added the part about ANGI allegedly "resorting to ethically questionable behavior with customers' credit card numbers to force them to renew their subscriptions".

    I have no experience with ANGI in that way because I never subscribed.

    However, I DID have that exact same, i mean identical experience with - Classmates.com! I tried the annual subscription that year before they sold to United Online. My subscription expired and all of the sudden I saw this charge to my card despite having only subscribed for -1 year! I called them and spent about 30 minutes on the phone with them as they tried to tell me that I agreed to it by subscribing for 1 year... After playing hardball with some shady characters, they canceled it and refunded the money.

    Now talk about a warning sign regarding ANGI, the similarities to Classmates sound as though they are more striking than I realized.

    Best regards,

    Scott
    Aug 26 11:49 PM | Likes Like |Link to Comment
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