Deal Breaker: Yelp files for IPO, Google dismissed
Yelp rival, ReachLocal, Files for an IPO
Filed under: Google (GOOG), Initial public offerings
Lately, the market for local online advertising has heated up. Based on various reports, it looks like Google (GOOG) was ready to pay $550 million for Yelp, which is a leader in the space. But the deal fell to pieces — probably because of a disagreement on the valuation.
This definitely bodes well for another player, ReachLocal. In fact, this week the company filed to go public.