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The acquisition could enhance Yelp's position in the growing auto service market, potentially increasing revenue streams as seen from Yelp's recent advertising growth.
What happened, with direct paths to the underlying reporting
Yelp acquired RepairPal for $80 million to expand auto service offerings. This move aims to capitalize on the $2 billion U.S. auto services market. Yelp's advertising revenue grew 11% YoY, reaching $228 million last quarter. RepairPal's acquisition aligns with Yelp's strategy to enhance non-restaurant services. Yelp's home services revenue grew 15%, indicating strong market potential.
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