Yelp gets $25M thumbs up from Elevation Partners

Jan 27, 2010 By MICHAEL LIEDTKE , AP Technology Writer

(AP) -- The online business rating site Yelp has raised $25 million from the private equity firm Elevation Partners.

The funding announced Wednesday comes a month after negotiations to sell to unraveled. Google at one point had offered about $500 million for Yelp, according to numerous published reports.

Elevation Partners bought stock at a price that values Yelp at about $475 million, according to a person familiar with the deal's terms. The person requested anonymity because Yelp is privately held.

Elevation also hopes to buy up to $75 million in stock from Yelp's 300 employees and other shareholders.

Yelp has raised a total of $56 million since its 2004 inception.

Explore further: Underfire Uber ramps up rider safety

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Yelp to let businesses comment publicly on reviews

Apr 09, 2009

(AP) -- The review Web site Yelp, which has garnered some criticism from the businesses put under its microscope, will soon let those businesses and others respond publicly to customers' critiques.

Would a Google purchase of Yelp draw regulatory interest?

Dec 21, 2009

Google Inc.'s reported plans to acquire local-listings service Yelp may face difficulties, with regulators attuned to the Mountain View, Calif.-based company's established dominance of the Internet-search and advertising ...

Social Web sites face transparency questions

Mar 22, 2009

(AP) -- Yelp.com prides itself on being a site where people can write reviews about pretty much anything and connect with similarly critical peers. Yet as the site grows, some of the businesses scrutinized on Yelp are turning ...

Use texting as reminder

Jan 28, 2009

There are lots of things you hear while you're out that you might want to remember later, such as the name of a movie to rent, restaurants to try or shows to program on the DVR.

Private exchange to aid startups seeking more cash

Sep 02, 2009

(AP) -- Since June, a Web site called SharesPost has been helping a small pool of qualified buyers and sellers trade shares in fast-growing startups that have not yet gone public. Now, the private stock exchange is hoping ...

Recommended for you

Underfire Uber ramps up rider safety

3 hours ago

Uber is ramping up driver background checks and other security measures worldwide after the smartphone-focused car-sharing service was banned in New Delhi following the alleged rape of a passenger.

Sony cancels NKorea parody film release after threats

3 hours ago

Hollywood studio Sony Pictures on Wednesday abruptly canceled the December 25 release date of "The Interview," a parody film which has angered North Korea and triggered chilling threats from hackers.

Sprint accused of billing for unwanted services

7 hours ago

(AP)—Federal regulators are accusing Sprint Corp. of illegally billing its wireless customers hundreds of millions of dollars in charges for text message alerts and other services that they didn't order.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.