Yelp Pays $50M To Acquire Its Big European Rival, Qype, To Beef Up Its Recommendations And Listings Business

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 Qype's shares and is adding another 970,000 shares of Yelp's Class A common stock, for a total purchase price of approximately $50 million USD. Qype is headquartered in Germany, with operations also in the United Kingdom. Combined, the two will be able to also compete better against the likes of Google, which combines its search, listings, user feedback and maps into a powerful product to rival that of Yelp's.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/JR1PybN-IQE/

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