Yelp buys Qype for $50 million
24 Oct 2012Yelp, the leading local listings and reviews portal in the U.S., acquired Qype, the leader in Europe, for $50 million U.S. (€38.5 million), the company announced today. The owners of Qype (several venture capital firms) will receive $18.6 million U.S. in cash and 970,000 Yelp shares**. (More about Yelp at bottom of this story; also read our recent Qype report
Christo Volschenk is managing editor of the news on Aimgroup.com and our senior analyst covering Naspers. He brings more than 31 years of experience in business journalism to the team - the last 18 years focused on classifieds and e-commerce. Apart from working closely with the AIM Group, Christo is a freelance journalist, content manager, and copy editor. Before branching out on his own, he spent 15 years with Naspers in South Africa as journalist, economics editor and online project manager. He now spends most his day editing the news reported by 23 colleagues in 23 countries from his base in Stuttgart, Germany.