A few days ago it was reported on many websites that Google was almost about to acquire Yelp for a whopping $500 million, and that 80 percent of the deal was almost complete. Now, there is a different side of the story. It is reported that Jeremy Stoppelman, the CEO of Yelp has walked out of the deal. He along with his representatives has apparently informed Google about this. There is no denying the fact that Google is a strong company and a very influential one in terms of controlling the internet media.

However, their social networking site “Orkut” is reported falling in many countries ever since Facebook and Twitter entered the social networking forum. Besides, it is still not certain as to why Yelp decided to walk out of the deal proposed by Google. May be they have found a better deal with some other company.

The Yelpers honestly feel that Google buyout would have degraded their site’s sense of community. Quite co-incidentally the Yelp executives also thought the same way, and opined that strategic partnerships may work out better as of now. Better luck next time, Google!

Via: Cnet