Yelp Inc (NYSE:YELP) stock value increased by 12 % during the Thursday stock market trading at the New York Stock Exchange to $27.7 per share. Investors positively responded to reports that Apple Inc. (NASDAQ:AAPL) plans to combine the company’s customer review services to the iOS 6, its latest operating system featuring a maps application.
Yelp offers advertisement and other type of services beneficial to local businesses across the United States to help increase their presence in the market and enhance their revenues. The company went public last March and boasted that the number its active business accounts was doubled.
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A recently published report by Street.com described that the integrated Apple map apps and Yelp services enable users to check any business establishment without opening the Yelp app. The new Apple mapping software also features a turn- by-turn of direction, which is already a component and freely available in Google’s Inc (NASDAQ:GOOG) Android operating system. The iOS6 also features the Flyover, a 3-D view of the map service.
Apple had been using the Google maps since the introduction of the first iPhone. Apple developed its own mobile mapping software to replace Google’s mapping system and to rival the search engine giant in this sector. In order to compete with Google, Apple acquired the three mapping systems firms including Placebase, Poly9 and C3 Technologies over the last years. It also partnered with Dutch-based navigation systems manufacturer TomTom to use its data
Meanwhile, the executives of Yelp were not available to provide comments regarding the report and its positive impact to the company’s stock value.