Investors have been concerned about Yelp's international business, and Yelp seems to be doing everything it can to reverse that.
The company announced on Tuesday that it has acquired Cityvox, a French online review site, which specializes in restaurants and nightlife. This follows the announcement last week that Yelp acquired Germany's Restaurant-Kritik, which also specializes in restaurants.
Yelp says these acquisitions illustrate its commitment to the development of the European market and underline its goal of becoming the go-to review source internationally.
Mike Ghaffary, Yelp's VP of Business and Corporate Development, said, "Cityvox has a local reputation for providing great consumer insights for businesses ranging from restaurants and brasseries to cinemas and clubs, basically any business falling into the restaurant and nightlife categories. We are looking forward to integrating this review and photo content into Yelp and putting it at the service of consumers throughout France, whether they be locals or one of the millions of annual visitors to the culture-rich country.
"Depth and breadth of content, as well as a dedicated community of Yelpers, is what sets Yelp apart and is the reason why over 130 million unique visitors come to Yelp each month," he added. "The addition of Cityvox’s review and photo content will enrich the Yelp content in France, and hopefully attract yet more dedicated and committed Yelpers to the Yelp France community."
Yelp reported its Q3 earnings last week with revenue up 67% year-over-year and cumulative reviews were up 41%. The company's outlook wasn't great, however, and shareholders weren't a big fan of that.
Image via Cityvox