Groupon may pursue deal with online-review company Yelp
Fox Business Briefs: The daily-deals company is reportedly looking to acquisitions as shareholders show more concerns over its finances and stock price.
Groupon is reportedly looking to cut a deal involving itself.
Amidst shareholder concern, the daily-deals company is looking into making an acquisition that could boost operations and the company's stock price, according to the Wall Street Journal.
Some people familiar with the situation say Groupon's target could be Yelp Inc., the San Francisco-based online-review company.
Shares of Yelp jumped more than 2 percent after-hours, while shares of Groupon fell around 4 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GRPN | GROUPON INC. | 8.12 | -0.18 | -2.23% |
| YELP | YELP INC. | 35.94 | -0.48 | -1.32% |
On Wednesday, Yelp had a market capitalization of $2.46 billion, while Groupon was worth $1.71 billion, according to FactSet.
CLICK HERE TO READ MORE ON FOX BUSINESS
A potential takeover would bring several services together in one place such as deals, reviews and purchases.
Both Groupon and Yelp declined to comment to the Journal.