Online reviews site Yelp has hired the chief financial officer of publicly traded real estate website operator Move Inc. as its new CFO — an appointment that may hint it is inching closer to its own initial public offering.
Yelp said Thursday that Rob Krolik will replace Vlado Herman, who has worked for Yelp since late 2006 and has been its CFO since mid-2007. Krolik starts immediately. Herman will transition out of the company over the next several months, Yelp spokeswoman Stephanie Ichinose said. The company had been searching for a new CFO for several months.
Krolik's hiring follows widely reported comments earlier this month from Yelp CEO and co-founder Jeremy Stoppelman that his company would like to go public in the next year or so. His remarks were made at the MobileBeat conference in San Francisco.
If Yelp intends to go for an IPO, Krolik's experience could be helpful. In addition to working at Move, he has worked at eBay Inc. as vice president of global finance operations for the company's marketplaces unit, which includes eBay.com and many other e-commerce sites. He also was CFO for Shopping.com, helping to take the comparison-shopping service public in 2004 and driving its sale to eBay in 2005.
"Among numerous candidates, we're excited to have found a seasoned Silicon Valley veteran who is eager to help scale a fast growing business like ours," Stoppelman said in a statement.