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MarketWatch First Take: Yelp bounces back as Grubhub deal gets good reviews

Yelp Inc. showed a good recovery after last quarter’s scary revenue shortfall while also surprising investors with a savvy deal to sell its Eat24 food-delivery business to Grubhub Inc..

Yelp sold Eat24 on Thursday for $287.5 million, about twice the $134 million it paid for the company in 2015. In its pact with Grubhub, it will retain the service and features of Eat24 for its users, while not having to spend the money on its operations. The deal looks like a no-brainer for Yelp.

Yelp will get a fixed fee on transactions per order, Charles (Lanny) Baker, Yelp’s chief financial officer, told analysts Thursday.

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