Google in Acquisition Talks to Acquire Yelp

Update: Yelp has walked away from a  $500 Million dollar deal with Google this weekend, according to TechCrunch. Last week, our blog post “Google in Acquisition Talks to Acquire Yelp” talked about the deal that was apparently in the advanced stages of talks and all but needed to be signed, sealed and delivered. I guess those involved at Yelp have a better idea for a Christmas present other than $500 Million? If anyone has an idea as to what that would be, I would love to know!

Google has made numerous purchases this year including four in the mobile space. One of which was AdMob which was purchased for $750 Million. Now it looks as though Yelp will be Google’s next major acquisition.

Yelp is a website which allows the general public to review local businesses within their city. Yelp reviews also rank with authority in Google and increase online visibility of businesses who have received reviews on Yelp.  The company apparently gained revenues of $30 Million in 2009, and are expecting an estimated $50 Million in revenue in 2010.

The Yelp acquisition is rumored to be 80% likely and seems to be part of an ongoing acquisition spree taking place at Google. This likely won’t be the last.