Shares of Yelp (NYSE:YELP) surged 15% in pre-market trading Tuesday after it was reported that activist investor TSC Capital Management has a stake in the service-recommendation business. TSC has amassed a stake of over 4% in Yelp and its Founder and President Eric Semler will tell the company’s board that it should be sold to another bigger tech company or a private-equity business. Semler believes the company’s stock should be sold for at least $70 a share and is prepared to make an offer to acquire Yelp. A Yelp spokesperson said the company “maintains an active dialogue with our shareholders and values constructive feedback on our business and ways to create value.”
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