Yelp has announced that it has acquired online food ordering start up, Eat24 for $134 million, as a move to expand its reach as it finds growth in its core business slowing. In its most recent quarter, Yelp has reported a decline in visitors to its site and using its mobile app to 135 million users per month.
Yelp will find itself in an increasingly crowded and competitive sector. Eat24 main competitor, online food ordering service GrubHub has acquired both DiningIn and Restaurants on the Go, two services that deliver food ordered through their sites, and mobile credit card reader developer and online business services site, Square, has recently acquired food delivery startup, Caviar. Uber, the online on-demand ride service has recently indicated its intention venture into food delivery, and Amazon and Google have both examined the potential of online delivery services.
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