Yelp Inc. operates as an online local guide that connects people primarily with boutiques, mechanics, restaurants, and dentists. Businesses of all sizes use the Yelp platform to engage with consumers at the moment when they are deciding where to spend their money. The company fosters and supports communities of contributors in local markets across the United States, Canada, Europe, Singapore, Australia, New Zealand and Brazil. These contributors provide firsthand information about local businesses, such as reviews, tips, ratings and photos. The company’s users have contributed a total of approximately 52.8 million cumulative reviews to its platform, as of December 31, 2013, covering 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. It had approximately 1.5 million claimed local business locations, as of December 31, 2013. Products Local Advertising The company provides both free and paid business listing products to businesses of all sizes. In addition, the company enables businesses to deliver targeted search advertising to large local audiences through its Web site and mobile app. Free Online Business Account: The company enables businesses to create a free online business account and claim the page for each of their business locations. Business representatives can verify their affiliation with the business through an automated telephone verification process, which requires that they be reachable at the phone number that is publicly displayed for their business listing on its platform. Enhanced Listing The company’s enhanced listing solution eliminates search advertising from the businesses’ profile pages and allows them to incorporate a video clip or photo slide show on the pages. Search and Other Ads 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 sells businesses a fixed number of these ad impressions per month, but also offer a ‘cost-per-click’ program. Call to Action The company’s Call to Action feature allows businesses to promote a desired transaction of their choosing, such as scheduling an appointment or printing a coupon, directly on their business listing page. Brand Advertising The company offers advertising solutions for national brands that want to improve their local presence in the form of display advertisements and brand sponsorships. The company’s national advertisers include brands in the automobile, financial services, logistics, consumer goods and health and fitness industries. Traditional Display Advertising The company offers both graphic and text display advertisements on its Website and mobile app. The company sells these ads on a per-impression basis. Brand Sponsorships The company’s fixed-price brand sponsorships provide businesses with exclusivity over a section or advertising placement on Yelp for a fixed period of time. Brand sponsorships are associated with a particular platform — desktop, mobile Web or mobile app — and are short in duration. Other Services In addition to its business listing and advertising products, the company also offers various features and consumer-interactive tools to facilitate transactions between consumers and the great local businesses they find on Yelp. Yelp Platform: The Yelp Platform allows consumers to transact directly on Yelp. Through partnerships with Eat24 and delivery.com, consumers are able to complete food delivery transactions on Yelp. Online Reservations: The company provides restaurants and nightlife venues with the ability to offer online reservations directly from their Yelp business listing pages through its SeatMe feature. The company’s partnership with OpenTable also provides consumers with the ability to reserve seats directly on business listing pages of restaurants that participate in OpenTable’s network. Yelp Deals The company’s 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. The company processes all customer payments and remits to the business the revenue share of any Yelp Deal purchased. Gift Certificates The company’s Gift Certificates product allows local business owners to sell full-price gift certificates directly to customers through their business profile page. Strategy The company intends to grow its platform and its business by focusing on the following strategies: increasing content contribution; attracting more users; increasing usage of current users; attracting more businesses; expanding to new geographic markets; growing sales force; and expanding portfolio of revenue-generating products. Sales and Marketing The company’s sales force is concentrated in five primary locations: San Francisco, California; Scottsdale, Arizona; New York City, New York; London, the United Kingdom; and Hamburg, Germany. Seasonality The company’s business is affected both by cyclicality in business activity and by seasonal fluctuations in Internet usage and advertising spending. Intellectual Property The company’s trademarks include Yelp and the Yelp burst logo, among others. Competition The company competes with Internet search engines, such as, Google, Yahoo! and Bing. History Yelp Inc. was founded in 2004. The company was incorporated in Delaware in 2004.
yelp inc (Y9L:Frankfurt)
140 New Montgomery Street
San Francisco, CA 94105
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