Google Reportedly in Talks to Buy Yelp - TheStreet

Google Reportedly in Talks to Buy Yelp

Google is in advanced negotiations to acquire Yelp for more than $500 million, a report says.
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MOUNTAIN VIEW, Calif. (

TheStreet

) --

Google

(GOOG) - Get Report

is in advanced negotiations to acquire

Yelp

for more than $500 million,

TechCrunch

reports, citing confirmation from multiple sources.

Yelp, founded in 2004, helps users leave reviews on local businesses. The company's 2009 revenue will be around $30 million and it expects $50 million in revenue in 2010, the report says.

Yelp has global traffic of nearly 9 million monthly unique visitors, according to marketing research company Comscore. The site, however, claims to have 25 million monthly unique visitors.

One source gave the deal an 80% chance of closing and added that talks were past the term-sheet stage,

TechCrunch

says.

Yelp previously was valued at $200 million in early 2008 when it received venture capital funding of $31 million from DAG, the report added.

Google recently acquired

AdMob

for $750 million and also was in the running for music-streaming company

Lala

.