A link has been posted to your Facebook feed. To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Yelp shares soar nearly 30% on Eat24 sale to Grubhub Rachel Sandler , USA TODAY Published 5:59 p.m. ET Aug. 3, 2017 | Updated 3:47 p.m. ET Aug. 4, 2017 GrubHub CEO Matthew Maloney, third from right, is applauded as he rings the New York Stock Exchange opening bell. Grubhub plans to gobble up another online food-ordering rival: This time it's Yelp Inc.'s Eat24. 68 CONNECT TWEET 836 LINKEDIN 1 COMMENTEMAILMORE SAN FRANCISCO — Shares of Yelp surged nearly 30% Friday after Grubhub said it would acquire Eat24, Yelp’s food delivery service, in a $287.5 million deal announced late Thursday. The proposed deal, which would help create the largest network of online and mobile food ordering in the U.S., sent Yelp shares over $40. Grubhub described the deal as a “long term partnership” in a statement. Once the deal closes, Yelp’s large user base of 83 million will have access to Grubhub’s extensive network of approximately 55,000 restaurants.
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