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Yelp Investors: Get To Know Eat24 (And The Company's Revised 2015 Outlook)

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Yelp Inc (NYSE: YELP) on Monday morning adjusted its 2015 guidance upwards while also announcing an acquisition.

Yelp offered a first quarter revenue outlook and expects sales to fall within a range of $118.5 million to $120.5 versus prior guidance of $114 million to $116 million. For the entire fiscal year, the company expects its sales to be $574 million to $579 million, higher than prior guidance of $538 million to $543 million.

Yelp also noted that its adjusted EBITDA expectations for the first quarter remains $19 million to $21 million.

At the same time, the company also announced that it has acquired Eat24, a food-ordering service for $75 million in cash and about 1.4 million shares of Yelp Class A Stock.

"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.

"Eat24 has developed a great solution and unique service that has already added great value to the Yelp Platform. With this acquisition, we gain more tools and expertise to help engage our users from discovery through transaction in a key vertical for Yelp."

Posted-In: Eat24 Jeremy Stoppelman mobile yelpLong Ideas M&A News Trading Ideas

 

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