Google walks away from Yelp talks

Google Inc., the world’s most popular Internet search engine, has walked away from takeover talks with the consumer-review site Yelp Inc., a person familiar with the matter said.

Google executives pulled out because Yelp wasn’t being transparent during the discussions, according to the person, who declined to be identified because the talks were private. Google was in negotiations last week to buy Yelp for more than $500 million, according to another person familiar with the matter.

Google is on a buying spree, announcing at least six acquisitions this year. The company agreed last month to pay $750 million for AdMob Inc., a mobile-advertising startup. Google and Yelp could still restart negotiations in the future, said Jeremiah Owyang, an analyst with Altimeter Group in San Mateo, California.

“There’s no rush — there’s plenty of opportunity for discussions later,” he said. “It does make a lot of sense for Google to be part of this.”

Jane Penner, a spokeswoman for Mountain View, California- based Google, and Stephanie Ichinose, a spokeswoman for Yelp, declined to comment.

Yelp, based in San Francisco, features user reviews of restaurants, mechanics, dentists and other businesses. More than 26 million people visit the service monthly, and at least 8 million users post reviews. The site would have provided Google with local content, giving it new ways to sell advertising.

Google rose 92 cents to $599.60 at 2:32 p.m. New York time in Nasdaq Stock Market trading. The shares have almost doubled this year.

The technology blog TechCrunch and the New York Times reported on the breakdown in talks earlier this week.

Bay Area NewsLocal

Just Posted

Pregnant women are in the high-risk category currently prioritized for booster shots in San Francisco. (Unai Huizi/Shutterstock)
What pregnant women need to know about COVID and booster shots

Inoculations for immunosuppressed individuals are recommended in the second trimester

Examiner reporter Ben Schneider drives an Arcimoto Fun Utility Vehicle along Beach Street in Fisherman’s Wharf on Tuesday, Oct. 19, 2021. (Kevin N. Hume/The Examiner)
Could San Francisco’s tiny tourist cruisers become the cars of the future?

‘Fun Utility Vehicles’ have arrived in The City

The Science Hall at the City College of San Francisco Ocean campus is pictured on Jan. 14. The Democrats’ Build Back Better bill would enable free community college nationwide, but CCSF is already tuition-free for all San Francisco residents. (Kevin N. Hume/The Examiner)
What Biden’s Build Back Better bill would mean for San Franciscans

Not much compared to other places — because The City already provides several key features

A directional sign at Google in Mountain View, Calif., on Oct. 20, 2020. Workers at Google and Amazon are demanding their companies pull out of Project Nimbus, a $1.2 billion contract to provide cloud services for the Israeli military and government. (Laura Morton/The New York Times)
Google and Amazon employees criticize $1.2 billion cloud services contract with Israel

‘We can create a world in which tech companies can thrive without doing harm’

Most Read