Yelp to Acquire Hatch for $300 Million

Yelp, providers of a platform that connects people with local businesses, will acquire Hatch, a lead management and communication platform, for $300 million.

"The acquisition of Hatch is an important step forward in Yelp's AI transformation, accelerating our strategy to bring powerful new AI tools to local businesses," said Jeremy Stoppelman, Yelp's co-founder and CEO, in a statement. "Hatch is solving challenging lead management and communication pain points for services businesses, and we've been impressed by the innovative AI technology and traction they've built. I believe that by bringing our companies together we will be able to help service providers operate and grow more efficiently."

"This is an incredible moment for Hatch," said Chris Bache, Hatch's co-founder and CEO, in a statement. "We've worked day in and day out to build something that truly helps our customers grow their businesses. I'm grateful to the Hatch team for all their work and dedication that brought us to this milestone. Joining Yelp means we can scale faster and help more businesses grow and succeed. The journey has only just begun, and I couldn't be more excited about what we'll accomplish together."