Profile: Yelp Inc (YELP.N)
23 Jun 2017
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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform. Yelp also provides businesses of all sizes with a range of free and paid services that help them engage with consumers.
The Yelp Platform allows consumers to transact with local businesses directly on Yelp through Yelp Eat24, the food ordering and delivery business; Yelp Reservations, its online reservations product, and integrations with partners ranging from Shoptiques.com (boutique shopping) to GolfNow (tee time booking) to BloomNation (flower ordering). 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 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 offers a range of features and consumer-interactive tools to facilitate transactions between consumers and the local businesses they find on Yelp. The Company's Eat24 business comprises 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 a range of amounts.
The Company offers subscription services, licensing payments for access to Yelp data and other non-advertising, non-transaction arrangements, such as certain partnerships. 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 Yelp Reservations product, which also includes front-of-house management tools. Its Yelp Knowledge program offers local analytics and insights through access to its historical data, and is available through integrations with companies. Its other non-advertising partner arrangements include content licensing.
The Company competes with Google, Bing, Facebook, Amazon and Microsoft.
140 New Montgomery St Fl 9
SAN FRANCISCO CA 94105-3705