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May 8, 2015

Is Yelp preparing for sale?

Shares soar 20% as rumours of its potential sale grow.

By

Yelp, the online business review site is looking for potential buyers after continuing to struggle to post a profit.

A decline in unique visitors to the site which has led to a fall in advertising sales has also contributed to the move.

The company which opted to reject takeover interest from Google 5 years ago has found life to be tough, with its first quarter results of 2015 showing a net loss of $1.3m and with share prices plummeting.

However, since the story was reported, a 20% rise in its shares has been seen.

The company which is currently valued at more than $3.4bn has not commented on the story, but no deal is said to be close.

No doubt Google will be linked with a renewed bid for the company despite recent tensions between the two due to Google’s search listings impacting Yelp’s business.

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