Yelp Walked Away From $700 Million Microsoft Offer

When Google offered $550 million to purchase Yelp, Yelp walked away saying it had another offer.

Looks like the other offer was Microsoft. According to Peter Burrows at BusinessWeek, Yelp had “a bid north of $700 million from Microsoft.”

Yelp turned down both offers, taking a $100 million investment from Elevation Partners that values the company at $475 million.

Yelp CEO Jeremy Stoppelman explains to Peter why he turned down the offers: “Yelp has the chance to become one of the great Internet brands…That for me is the chance of a lifetime.”

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at