Yelp Inc. Buys Nowait in $40 Million Deal
Yelp co-founder and CEO Jeremy Stoppelman said of the deal, “With this acquisition, we’ll make even bigger strides in the restaurant
industry by allowing Yelp users to more quickly move from search and discovery to transacting at a local business.”
Offering what it bills as “the industry’s leading waitlist system
and seating tool,” Pittsburgh-based Nowait is now fully owned by its one-time partner and investor, Yelp (NYSE: YELP).
By October, Yelp had integrated Nowait into its industry-leading app, where
it quickly became “a valuable addition to our overall restaurant offerings.”
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Yelp added that the $40 million all-cash deal for the remaining stake in privately held Nowait closed on Feb. 28.
Nowait began in Pittsburgh, a city notorious for restaurants that don’t take reservations, and was an instant hit locally.