Google to buy Yelp?

In recent months search engine giant Google was involved in discussion to buy Yelp for an estimated $500 million. Yelp is based on San Francisco and was founded in 2004. It covers about 40 states and recently launched in the UK as well.

Yelp caters to users who are searching for businesses and rating them. The revenues for 2009 were estimated at about $30 million and for 2010 will be expected to reach $50 million.