Google offered to purchase Yelp last week for $550 million plus earnouts and they were working on all the final deal for the acquisition when over the weekend Yelp reconsidered the deal and are now not going to sell to Google.
What happened? Well, it’s unclear of the deals of what changed their mind so it will be interesting to see what the future will bring for the direction of Yelp; for now it’s business as usual.
The background on Yelp is, it was founded in 2004 by two former PayPal employees. It is a local review site and social networking site in both the US and the UK. The concept is that it’s word of mouth advertising and that the feedback of others will give you enough information to help you make your purchasing decision.
For restaurant operators, if you aren’t aware of Yelp, you should be!Madonna Kash www.madonnakash.com www.foodservicegeeks.com/ @madonnakash