Yelp (YELP +6.7%) jumps to new highs after announcing it's no longer a mere ad-seller: the local...

|About: Yelp (YELP)|By:, SA News Editor

Yelp (YELP +6.7%) jumps to new highs after announcing it's no longer a mere ad-seller: the local reviews leader is launching a platform that allows local businesses to take orders and have transactions processed on its site/apps. Only food delivery/pickup orders are initially supported, but Yelp promises "categories like spas, yoga studios, salons and dentist appointments" will launch in the coming months. Yelp's efforts present new competition for Groupon (GRPN -3.3%), which has been working hard to expand beyond daily deals and become a broader local e-commerce enabler.  Google (GOOG) is also eying this market.