CHICAGO — Groupon, the struggling Chicago-based deals site, could be eyeing the acquisition of online review site Yelp.
Shareholders are unhappy with Groupon’s financial performance and stock price, and a potential acquisition could boost the value and earnings potential of both companies, the Wall Street Journal reported Wednesday, citing people familiar with the matter. A matchup could result in a combined online platform where consumers could read reviews and make purchases.
Yelp and Groupon declined to comment.
Groupon’s stock hit an all-time low in mid-August of $2.32 a share and on Wednesday closed at $3.01. Yelp closed Wednesday at $34.60 a share.
A Yelp-Groupon merger has been floated before, in 2016, with Yelp as the potential buyer. That same year, Groupon acquired one of its biggest rivals, LivingSocial, for an undisclosed amount. Last year, there was speculation that Groupon was looking for a buyer.
