Google walked away from acquiring Yelp, not the other way around, says a source close to the negotiations.
“Because the deal wasn’t a transparent process,” says this person.
“Google is determined not to have deals negotiated through the press.”
That story now smells like damage-control spin following a called bluff. We think what happened was:
- Google and Yelp had a deal.
- Yelp leaked word of the deal to TechCrunch.
- Yelp went back to Google and said a third-party had come in with a higher offer.
- Google balked.
We reached out to Google and Yelp on this story, but both refused to comment.
Heads up! We’re by no means calling this deal dead. Though this source says Google doesn’t want to negotiate in the press, that might be exactly what you’re watching here. [Cue spooky music] Additionally, we’ve heard Yelp and Microsoft talked about some kind of deal, but not an acquisition.