Report: Yelp Declines $550 Million Bid from Google

Authored by Mark Hefflinger on December 21, 2009 - 6:31am.

San Francisco - Despite multiple news reports last week that Google (NASD: GOOG) was in late-stage negotiations to buy user-generated reviews site Yelp, TechCrunch reported on Sunday that the company has walked away from Google's estimated $550 million offer.

TechCrunch added that its sources say no other suitor is currently "seriously looking at the company," but speculated that a big-name firm made an offer for a strategic deal that was more attractive than Google's.

The site reported last week that the deal was 80% likely to go through. Sources also told The New York Times that Google and Yelp were in acquisition talks.

Related Links:
http://snipurl.com/tsesh (TechCrunch)

http://snipurl.com/tsf6q (N.Y. Times)

http://snipurl.com/tsf78 (DMW previous coverage)

http://www.yelp.com