Exclusive news and research on the wine, spirits and beer business

News Briefs for May 11, 2015

May 11, 2015

•San Francisco-based Yelp Inc. is reportedly seeking a buyer in the face of slowing growth in users and advertisers. According to the Wall Street Journal, the business-rating website is working with investment banks seeking out potential buyers, with its market value currently around $2.9 billion. In 2014, Yelp reported $36.5 million in profit on $377.5 million in revenue, but it lost $1.3 million in the first quarter of this year amid increasing costs and a deceleration in unique visitors. Yelp has had difficulty luring repeat business from mom-and-pop advertisers on its site, the Journal reports. Meanwhile, tensions have arisen between Yelp and Google Inc., which was reportedly interested in acquiring Yelp in 2009 before talks fell apart. According to Yelp, Google has changed its search engine mechanism to boost its own local listings and push Yelp results further down the page.

Subscribe to Shanken News Daily’s free Email Newsletter, delivered to your inbox each morning.

Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.

Tagged : ,

Get your first look at 2019 data and 2020 projections for the wine and spirits industries. Order your 2020 Impact Databank Reports. Click here.

Previous :  Next :