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It’s been known for months that Google was interested in and negotiating with Yelp, the consumer search and rating site, for a buyout. The New York Times confirms the story today, stating that the purchase negotiations are underway and the price may be $500 or more. Yelp is on more serious footing than ever before, having brought in $31 million in venture capital and reportedly looking at revenue almost matching at $30 this year. Yelp dominates the local business listings and reviews. It was founded by Jeremy Stoppelman and Russel Simmons of PayPal fame in 2004.