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Yelp Acquires Qype for $50 Million
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Msg#: 4511706 posted 2:28 pm on Oct 24, 2012 (gmt 0)

This just in: online recommendations and listings site Yelp is stepping up its international push and buying its biggest rival in Europe, Qype. It will pay 18.6 million for all of Qypes shares and is adding another 970,000 shares of Yelps Class A common stock, for a total purchase price of approximately $50 million. Qype is headquartered in Germany, with operations across Europe. Combined, the two will have a service covering some 93 million monthly unique visitors and 32 million reviews, Yelps CEO Jeremy Stoppelman noted in a blog post. That should help Yelp compete better against the likes of Google, which combines its search, listings, user feedback and maps into a powerful product to rival that of Yelps.Yelp Acquires Qype for $50 Million [techcrunch.com]

 

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