Yelp Co-Founder Russel Simmons: Over It and Out

Just a little over one month after Yelp Brand Director, Nish Nadaraja, resigned from international user-generated reviews site, Yelp; company co-founder and CTO, Russel Simmons announces he's hitting the road as well. Both Yelpers are taking the time-off to travel and rest; and according to co-founder and CEO, Jeremy Stoppelman: "Simmons remains a 'significant' shareholder in the company and will continue to provide support and advice as needed."

This all comes after Yelp turned down a $500 million or so acquisition by Google before closing a deal with Elevation Partners, who promised to invest as much as $100 million in the company. Yelp also allegedly experienced its first positive cash flow status late last year; and the double exodus couldn't possibly be related to the great let down of Bono's denied admittance to the Yelp board of reps. Indeed this "leaving to go travel" business has a much more serious stink to it. If you're privy to any insider knowledge about these goodbye Yelps, do drop a line.

· Yelp Brand Director Nish Nadaraja Resigns [~ ESF ~]
· Yelp Co-Founder and CTO Russel Simmons is Out [TechCrunch]
· Elevation Invests in Yelp, Up to $100 Million [Cnet]
· Yelp Taking Big Investment from Elevation Partners [TechCrunch]
[Photo: Valleywag]