Local reviews powerhouse Yelp has announced that it’s taking a $25 million investment from Elevation Partners, who will also “seek to increase its total investment in Yelp to $100 million through a planned purchase of shares from vested employees and other eligible shareholders,” according to a statement from the company.
The investment comes at a time when local is red hot, with Yelp looking to capitalize further on it by expanding its mobile presence across platforms and introducing features like “check-ins” that help lend credibility to user reviews.
The company cites mobile app development as one of its uses for the new funding, and an updated Android app with check-in features is expected within the next couple weeks.