Profile: Yelp Inc (YELP.N)
23 Sep 2016
Yelp Inc. (Yelp), incorporated on September 03, 2004, connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature. Its platform also provides businesses of all sizes with a range of free and paid services that help them engage with consumers. The Company has a range of communities of contributors across the world that contributes the content on its platform. These contributors provide firsthand information about local businesses in the form of reviews and ratings, tips, photos and videos.
The Company has Yelp communities in Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, the Czech Republic, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Malaysia, Mexico, The Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Singapore, Spain, Sweden, Switzerland, Taiwan, Turkey, the United Kingdom and the United States. The reviews contributed to its platform cover a set of local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto and other categories.
The Company provides both free and paid business listing products to a range of businesses. In addition, it enables businesses to deliver targeted search advertising to large local audiences through its Website and mobile application. The Company enables businesses to create a free online business account and claim the page for each of their business locations. With their free business accounts, businesses can view trends (statistics and charts of the performance of their pages on its platform), use the Revenue Estimator tool (to quantify the revenue opportunity Yelp provides), message customers (to reply to reviews either publicly or privately), update information (address, hours of operation) and offer Yelp Deals and Gift Certificates.
The Company's enhanced profile solution eliminates search advertising from a business's profile page and allows the business to incorporate a video clip or photo slide show on the page. Businesses can also promote a desired transaction of their choosing - such as scheduling an appointment or printing a coupon, directly on their business listing pages with the Company's Call to Action feature. For businesses with 10 or more locations, the Company's branded profile solution offers the ability to incorporate a video clip or photo slide show, as well as a Call to Action Button, on each location's business listing page. The Company allows businesses to promote themselves as a sponsored search result on its platform and on the listing pages of related businesses. The Company provides restaurants, nightlife and certain other venues with the ability to offer online reservations directly from their Yelp business listing pages through its SeatMe feature, which also offers front-of-house management tools. The Company also offers Yelp Reservations, a free tool with basic reservation functionality for businesses in the restaurant and nightlife categories.
The Company offers several features and consumer-interactive tools to facilitate transactions between consumers and the local businesses they find on Yelp. The Company's Eat24 business generates revenue through arrangements with restaurants in which restaurants pay a commission percentage fee on orders placed through Eat24's platform. The Yelp Platform allows consumers to transact directly on Yelp. Its Yelp Deals product allows local business owners to create promotional discounted deals for their products and services, which are marketed to consumers through its platform. Its Gift Certificates product allows local business owners to sell full-price gift certificates directly to consumers through their business listing pages. The business chooses the price point to offer, and consumers may purchase Gift Certificates denominated in such amounts.
The Company offers advertising solutions for a range of national brands in the form of display advertisements and brand sponsorships. The Company generates brand advertising revenue through the sale of graphic and text display advertisements on its Website.
The Company generates other revenue through partner arrangements and monetization of remnant advertising inventory through third-party ad networks. The Company's partner arrangements include allowing third-party data providers to update business listing information on behalf of businesses and resale of its local advertising products by certain partners.
The Company competes with Google, Bing, Facebook, Yahoo! and Microsoft.
140 New Montgomery St Fl 9
SAN FRANCISCO CA 94105-3705
Company Web Links
- BRIEF-Yelp announces conversion of Class A and Class B common stock into a single class of common stock
- BRIEF-Nowait Partners announces partnership with Yelp
- Yelp swings to surprise profit, raises full-year revenue forecast
- UPDATE 2-Yelp swings to surprise profit, raises full-year revenue forecast
- BRIEF-Yelp says Jed Nachman has been appointed as Chief Operating Officer - Conf call