Yelp shares jump on reports of Yahoo deal
Yelp Inc.'s shares jumped Monday on reports that it is working with Yahoo Inc.
The Wall Street Journal reported Sunday that Yahoo will incorporate Yelp's listings and reviews of local businesses into Yahoo's search listings. The report, citing a person the Journal did not name who attended a company meeting at which the partnership was unveiled, said that the new feature will be made available in the coming weeks.
Yelp and Yahoo each declined to comment on the matter.
Shares of San Francisco-based Yelp increased $1.96, or 2.2 percent, to $91.37 by early afternoon, well ahead of broader market trends. The value of its stock has grown more than four-fold in the past 12 months.
Shares of Yahoo, based in Sunnyvale, Calif., rose 43 cents to $37.66.