MOUNTAIN VIEW, Calif. (
is in advanced negotiations to acquire
for more than $500 million,
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,
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
for $750 million and also was in the running for music-streaming company