Acquisition DetailsUnder the terms of the purchase agreement, Yelp acquired all of Turnstyle's outstanding capital stock for approximately $20 million, paid in cash. About Yelp Yelp Inc. ( http://www.yelp.com) connects people with great local businesses. Yelp was founded in San Francisco in July 2004. Since then, Yelp has taken root in major metros in more than 30 countries. Approximately 24 million unique devices 1 accessed Yelp via the Yelp app, approximately 73 million unique visitors visited Yelp via desktop computer 2 and approximately 65 million unique visitors visited Yelp via mobile website 3 on a monthly average basis during the fourth quarter of 2016. By the end of the same quarter, Yelpers had written approximately 121 million rich, local reviews, making Yelp the leading local guide for real word-of-mouth on everything from boutiques and mechanics to restaurants and dentists. 1 Calculated as the number of unique devices accessing the app on a monthly average basis over a given three-month period, according to internal Yelp logs. 2 Calculated as the number of "users," as measured by Google Analytics, accessing Yelp via desktop computer on a monthly average basis over a given three-month period. 3 Calculated as the number of "users," as measured by Google Analytics, accessing Yelp via the mobile website on a monthly average basis over a given three-month period. Forward-Looking Statements This press release contains forward-looking statements relating to, among other things, the anticipated benefits of Yelp's acquisition of Turnstyle, Yelp's strategy, plans, objectives, expectations and intentions with respect to Turnstyle, including with respect to offering Turnstyle products to Yelp-listed businesses, Yelp's ability to deliver a comprehensive intent-based marketing resource to local businesses, the future performance and market position of Yelp and its subsidiaries, and other statements that are not historical facts. These forward-looking statements are based on Yelp's current expectations, forecasts and assumptions, and inherently involve significant risks and uncertainties. Actual results and timing of events could differ materially from those predicted or implied in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with the acquisition, such as the risk that the businesses will not be integrated successfully or that such integration may be more difficult, time consuming or costly than expected; risks related to future opportunities and plans for the combined company, including whether Turnstyle's customers will continue to use the service following the acquisition, whether Yelp will be able to leverage its large distribution network to increase the customers using the service and whether the acquisition will drive customer acquisition on Yelp; risks related to the potential disruption of both businesses in connection with the transaction; and the competitive and regulatory environment while Yelp continues to expand and introduce new products as new laws and regulations related to Internet companies come into effect. The forward-looking statements in this release do not include the potential impact of any acquisitions or divestitures that may be announced and/or completed after the date hereof.