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Yelp expands into online food ordering with Eat24 purchase

(Reuters) - Yelp Inc (YELP.N) said it bought online food-ordering service Eat24, expanding its business beyond consumer reviews into one of the hottest sectors of the online economy.

Faced with maturing growth in the United States, Yelp has been stepping up efforts to expand in international markets, but without much success.

Growth in average monthly unique visitors to Yelp's website, yelp.com, and its related app slowed to 13 percent in the December quarter from 39 percent a year earlier.

The acquisition of Eat24 for $134 million puts Yelp in direct competition with established operators such as market leader GrubHub Inc (GRUB.N), whose shares have risen about 50 percent since the company went public in April.

B Riley & Co analyst...


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