Google To Purchase Yelp for $500 Million
December 18, 2009 by Pablo Palatnik
Reported by TechCrunch, there is a rumor floating around that Google is planning to purchase social LOCAL site YELP for a reported $500, morless. It may be a sign of some sort of economic recovery, as acquisitions in 2009 have been too few and far between in comparison to 07-08′ where a lot of online acquisitions were made. The last acquisition we saw was just this week with the sell of social site Friendster.com.
What does this tell us? It points us in a direction that Google wants to go to and focus a bit more on the search side which is LOCAL SEARCH. Around the industry, many think this is a HUGE step for Google to take towards this purchase as we haven’t seen a move by Google like this in a while.
“Google is building out their own directory of local businesses with its Place Pages, which can be accessed via Google Maps and local search. They are encouraging local businesses to put Google-branded stickers in store windows and recently added their own ratings summaries to business profiles. Yelp, of course, already has all of this data, along with a growing and active audience of consumers who are used to finding (and rating) businesses on Yelp.”
Read the Whole Story @ TechCrunch —–>
Google In Discussions To Acquire Yelp For A Half Billion Dollars Or More
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