Yelp is an American public company with headquarters in San Francisco, California, specializing in connecting customers with businesses in multiple spheres. It was launched in 2004 by two co-founders, Jeremy Stoppelman and Russel Simmons. The relatively short history of the organization’s existence has been marked by rapid growth and an increase in customers and revenues. After sixteen years of functioning, the company now occupies a stable place in the competitive sector environment and provides exceptional informational services to the users of its websites and applications.
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The company functions as a website and an app that gathers crowd-sources reviews about service business available to the customers. Between 2004 and 2010, Yelp managed to reach the level of $30 million in revenue, with 4.5 million crowd-sourced reviews posted on its website. During the next two years, the organizations grew rapidly and expanded to Asia and Europe. Also, the company engaged in cooperation negotiations with a leading search engine Google to increase the scope of its operations. In 2012, Yelp acquired the status of a profitable public company. The latest data indicates that by 2019, the organization had 61.8 million unique desktop visitors and 76.7 million unique mobile visitors per month.
Yelp has generated a system of ratings and filters that make the access and utilization of the database easy and comprehensive for the users to make informed decisions when choosing a service they need. The data about restaurants, home services, automobile services, gyms, shopping, dry cleaning, and other services are generated and hosted to provide consumers with the features of check-in, participation in deals, review of photos, and feedback of other users (“Yelp Newsroom”). An ability to order services through the application and website features, access information, and obtain objective reviews makes the company a beneficial asset for consumers.
“Yelp Newsroom.” Yelp, 2020, Web.