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Stock impact report

Yelp just spent $80M on a site for car repair estimates [TechCrunch]

Cars.com Inc. (CARS) 
Last cars.com inc. earnings: 2/26 07:30 am Check Earnings Report
US:NYSE Investor Relations: investor.cars.com/overview/default.aspx
Company Research Source: TechCrunch
In the company's earnings report on Thursday, Yelp revealed that it agreed to buy RepairPal, a site for car repair estimates, for $80 million in cash. The acquisition is expected to close by the end of the year, subject to customary closing conditions. “We believe RepairPal will accelerate our broader services efforts by expanding our offerings in the multi-billion dollar U.S. auto services advertising vertical,” Jeremy Stoppelman, Yelp's co-founder and CEO, said in a statement. While it might not seem like an obvious marriage, RepairPal fits into Yelp's ambition to become a major home services funnel. In recent years, Yelp has added functionality beyond restaurant and business search tools, like an AI-powered feature that suggests plumbers, repairmen, and other home service providers to users potentially in need of them. Yelp has also introduced programs like Yelp Guaranteed, which offers up to $2,500 of coverage for qualifying projects in case of problems. Yelp makes money Show less Read more
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