5/1/2023 0 Comments Yelp founded![]() ![]() The advertising model compares to Tripadvisor who make most of their revenues through advertising. Yelp is slowly entering into the transaction business such as ordering food, making reservations and other transactions through their pages. The advertising model is Yelp’s main revenue source (90%). Local businesses can advertise among the user-generated content. and it is the opportunity to make (additional) earnings for one side of the platform. It feeds itself.” This snippet from an early fortune magazine article explains what makes Yelp appealing to local business owners. Then other people see the reviews, think it must be great, and call. ![]() “I get anywhere from five to 15 calls a day from Yelpers. “I’ve taken out ten ads in OC Weekly this year and have gotten maybe one call,” says Hall. They display the ratings, reviews, pictures that users post to give others valuable information in their choices. Yelp helps users to find local businesses like restaurants, shops, bars, home services and more. It is not a coincidence that “Yelp” resembles a shorter version of “YellowPages.” But they are more than a directory. “Yelp connects people with great local businesses by bringing “word of mouth” online and providing a platform for businesses and consumers to engage and transact.” Yelp annual report. Join me for an exciting discovery of Yelp’s business model and that of directory / review businesses in general. ![]() This gives us access to their annual reports which have lots of hard data on the platform business model. Unlike Uber and Airbnb, Yelp had their IPO in 2012 and is now a public company. Yelp is one of the largest user-generated review platforms. ![]()
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