Yelp Shares are Tanking and a Kickstarter Project Could Be the Reason A new documentary apparently shows alleged abuses by the customer review service.

By Myles Udland

This story originally appeared on Business Insider

Yelp shares were down as much as 4% in afternoon trade on Thursday, and traders are pointing to this Kickstarter project seeking to fund a documentary showing alleged abuses by the customer review service.

On Wednesday, Prost Production, which is raising money for the project, sent out a press release announcing the project.

Last week, we highlighted an interview with Kaylie Milliken, a documentary filmmaker involved in the project.

News of the release, first reported by The Fly, is putting Yelp shares under pressure on Thursday.

In a statement to Business Insider, a Yelp spokesperson said: "The director has a conflict of interest, as she has a history of trying to mislead consumers on Yelp. There is no merit to the claims they appear to highlight, which have been repeatedly dismissed by courts of law, investigated by government regulators, including the FTC, and disproven by academic study."

As of around 1:30 pm ET on Thursday, the movie had raised about $8,600 of its goal amount of $60,000 for the film.

Year-to-date, Yelp shares are down about 18%, and over the last year, the stock is down almost 50%.

You can watch the trailer for "Billion Dollar Bully" here:

Myles is Business Insider's Markets Editor. He joined BI from theflyonthewall.com, where he was a writer for their breaking news team. He is a graduate of the University of Connecticut.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

'I'm Inspired By All the Ways People Invest': MacKenzie Scott Has Donated Over $2 Billion This Year. Here's Where the Money Went—and Why.

Scott gave money to 199 organizations, and 75% were nonprofits focusing on economic security and opportunity.

Business News

Oscar Mayer Is Hiring Drivers for Its Famous Wienermobile. Here's How to Apply and How Much You'll Get Paid.

The one-year gig is a coveted role—only 1% of applicants become "hotdoggers."

Leadership

5 Key Success Factors of Thriving Entrepreneurs

This article helps entrepreneurs re-focus on the value that soft skills bring to success.

Thought Leaders

The Heartbreaking Lose of a Child to Cancer Brought These 3 Founders Together. Now Their Startup Has Raised $60 Million to Fight and Treat the Disease With Cutting-Edge Tech.

What happens when a Silicon Valley entrepreneur, a synthetic biology expert, and a world-renowned cancer researcher team up? They create Earli—a startup rewriting the rules of cancer detection and treatment.

Business News

'Did We Just Become Best Friends?' Jeff Bezos Dines at Mar-a-Lago With Donald Trump and Elon Musk

Amazon founder Jeff Bezos is the latest tech leader to visit the Palm Beach, Florida, "Winter White House."