Printed from http://www.electronista.com

Yelp backing out on Google deal?

updated 11:15 am EST, Mon December 21, 2009

Yelp may be courted by a new buyer

A follow-up rumor today claims that Yelp has stepped away from an offer from Google for unknown reasons. Now thought to be worth as much as $550 million, the buyout was reported by TechCrunch to be near completion but dismissed by Yelp on the weekend. The immediate reasons behind the exit are unknown.

Walking away from such a deal would be unusual for a company like Yelp, which while significant has received funding less than a tenth the price negotiated with Google. While concerns about independence may have affected talks, it's suspected that a third party with a strong interest in local search, like Apple or Microsoft, may have provided a stronger counter-offer at the last minute.

Apple has lately taken a strong interest in location-based searching as it has acquired Placebase, started a geolocation team and otherwise signaled an intent to reduce its dependency on Google for map-based search. Meanwhile, Microsoft has been intent on fighting Google in localized services and just recently launched updated Bing mapping as well as iPhone and Windows Mobile apps.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

ActvContent Sync Smartband

Smartbands of all sorts are hitting the market. Some build on the buzz around fitness trackers, while others offer simpler features fo ...

RocketStor 6324L Thunderbolt 2 eSATA bridge

Like it or not, the shift to Thunderbolt is underway. The connection is extremely flexible, allowing for video and data to co-habitate ...

Patriot Stellar Boost XT 64GB USB 3.0 drive

A vast selection of USB memory sticks means that consumers can often find exactly the size drive they need in a configuration that can ...

Sponsor

toggle

Most Commented

 
toggle

Popular News