I don't think Google is buying Yelp for the reviews. I think they'd buy them for the user data.
From what I hear, Google has an internal mandate to ensure that products are globally applicable. This is why Google probably won't attack real estate anytime soon.
Yelp is rich in certain locales (hadn't heard about Chicago, but your pop-size ensures that pretty much most things are a hit) but it's reviews aren't going global anytime soon. The data and patterns Google could glean, in addition to the local business data (openings, closings, good for kids, etc) is invaluable to them as they work towards their local business goal. They could kick off several cities with a flick, and have learnings to scale up.
From what I hear, Google has an internal mandate to ensure that products are globally applicable. This is why Google probably won't attack real estate anytime soon.
Yelp is rich in certain locales (hadn't heard about Chicago, but your pop-size ensures that pretty much most things are a hit) but it's reviews aren't going global anytime soon. The data and patterns Google could glean, in addition to the local business data (openings, closings, good for kids, etc) is invaluable to them as they work towards their local business goal. They could kick off several cities with a flick, and have learnings to scale up.