UPDATE: YP and Yelp Sign Strategic Deal
YP, the largest local ad platform in the U.S., and Yelp (NYSE: YELP), the company that connects consumers with great local businesses, today announced that the two local search leaders have agreed to a strategic deal. The agreement will allow YP to enhance its customers' business listings on Yelp and expand their distribution within the YP Local Ad Network to include Yelp's vast consumer reach. The agreement also provides Yelp with additional means to access local businesses through YP and enrich their business listings with engaging content for consumers.
With YP and Yelp's leading positions with local businesses and consumers, the deal will enable consumers to find and connect with even more of the great services and businesses they're already searching for online. The addition of Yelp's consumer reach as a Top 25 U.S. web and mobile property to the YP Local Ad Network will enhance value to advertisers of YP, a Top 40 U.S. web and mobile property (sources: comScore). The addition of enriched business listings via YP on Yelp will enhance value to Yelp consumers.
"This is a game changer for local businesses which will now gain industry leading consumer access to potentially reach 95 percent* of the U.S. Internet market through YP and Yelp's combined audiences," said David Krantz, CEO of YP. "We're excited to work with Yelp to deliver superior value in the local search market and look forward to collaborating on future opportunities."
"This partnership allows Yelp to tap into YP's, large, local sales force and advertiser base," said Jeremy Stoppelman, CEO of Yelp. "Yelp's significant consumer engagement combined with YP's scale and advertiser reach will help both companies grow and take local advertising to the next level."
Terms of the deal were not disclosed.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.