Google's Yelp

Multiple source confirmed that Google and Yelp are in advanced acquisition negotiations. This negotiations will come to an end in a day or two. The negotiated amount will be approximately Half a Billion Dollars or more ($500,000 Million).

Recently Google had planed to acquire Lala a online music store. But, Apple got the deal for $80 million. Now, Google is planning to acquire Yelp. Yelp was founded in 2004 by two former PayPal employees. Yelp is a Web 2.0 company that operates a social networking, user review, and local search web site of the same name. Over 25 million people access Yelp’s website each month, putting it in the top 100 of U.S. Internet web sites.

Whispers we heard from Yelp – 2009 revenue was about $30 Million and they are expecting $50+ Million in 2010.

Whats are the chances of this deal happening? One source says its 80% likely. Not signed, sealed and delivered, but past the term sheet stage.

This acquisition perfectly fits into Google’s recent push for search based on locations. And also with Place Pages are Google’s own directory of local businesses, which can be accessed via Google Maps and local search. Google is encouraging local businesses to put Google-branded stickers in store windows just like Yelp and recently added their own rating summary 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.

Source[via]

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