Another acquisition for Yelp that will take the local listings company even deeper into commerce and food-related services. It’s gobbling up Eat24 , a U.S. food delivery business that competes with GrubHub, Delivery.com and others in the area of delivering food on behalf of various restaurants. Yelp is paying $134 million for Eat24, with $75 million in cash and the rest in Yelp shares, for the company. The thinking is that this acquisition should help Yelp in two areas. First of all, it will give the company more contact points with restaurants. And second of all, it will help the company shore up its core listings business with another revenue stream in the wake of declines in paid accounts among local businesses. In the first of these, Yelp already provides users with local listings for restaurants that they might want to visit. It also gives them the option of booking tables at those restaurants (by way of a 2013 acquisition of SeatMe ), and it offers deals at those venues. Now it will give users the option of eschewing the restaurant experience altogether, instead ordering their food and having it brought directly to wherever they are. “As more food ordering transactions move online, further integrating Eat24 will enhance our user experience with an easy-to-use product and service that allows our large consumer audience to transact directly with businesses,” said Jeremy Stoppelman, Yelp co-founder and chief executive officer, in a statement. “Eat24 has developed a great solution and unique service that has already added great value to the Yelp Platform.
Home / Tech News / Yelp Buys Delivery Network Eat24 For $134M To Ramp Up In Food Operations (Ingrid Lunden/TechCrunch)
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