Google eyes Yelp buyout

The two companies have had conversations for several years, but a more serious round of acquisition talks began two months ago, the report noted.

According to the publication, the firms have discussed a price and are negotiating the details, but have not yet signed an agreement. The report said the size of deal could be more than US$500 million.

Yelp has raised US$31 million in venture capital and is on track to bring in about US$30 million in revenue this year.

However, NYT said that the deal between Google and Yelp could still unravel, particularly if another acquirer comes forward now that details have leaked.