Web search giant Google is in speaks to procure local enterprise review site, Yelp for at least five hundred million us dollars, asserts a media report. Attributing to folk with understanding of the deal, The NY Times reported Google is in purchase talks with Yelp.
The 2 firms have had chats for many years, but a heavier round of purchase talks commenced 2 months back, the report noted. According to the publication, the firms have debated a price and are negotiating the details, but haven't yet signed an understanding. The report expounded the dimensions of deal might be more than Bucks five hundred million. Yelp has raised Bucks 31 million in venture capital and is on track to bring in about $ 30,000,000 in money this year.
The company was set up in 2004 by 2 PayPal vets, Jeremy Stoppelman and Russel Simmons and dominates the marketplace for reviews of local firms and adverts in large Yankee towns, and has lists in Canada and Britain. The daily announced the deal between Google and Yelp could still unravel, especially if another acquirer comes forward now that details have leaked.
