Business, Investments

Yelp Acquires Online Food Ordering Service Eat24 in a $134M Cash & Stock Deal

Image Source: eat24hours

Image Source: eat24hours

Yelp, the company that connects consumers with local food businesses, has announced that it has acquired Eat24, a web and app-based online food ordering service for $134 million in shares and cash. With this acquisition, Yelp will drive daily engagement in the key restaurant vertical and plans to expand Eat24’s offering to the one million U.S. restaurants listed on its platform.

Based in San Bruno, California, Eat24 was founded in 2008 to expand online food ordering while providing an improved customer experience. It provides approximately 20,000 restaurants in over 1,500 cities nationwide with the ability to offer online delivery and takeout services.

“As more food ordering transactions move online, further integrating Eat24 will enhance our user experience with an easy-to-use product and service that allows our large consumer audience to transact directly with businesses,” said Jeremy Stoppelman, Yelp co-founder and chief executive officer.

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