For almost two decades, Yelp has been connecting people with local businesses. Over that time, it has become one of the best-known internet brands in the U.S., as consumers have access to more than 220 million ratings across a broad range of business categories. With local information, photos, and review content, Yelp provides a one-stop local platform for consumers to discover, connect, and transact with businesses of all sizes.
By making it easy to request a quote, join a waitlist, make a reservation, appointment, or even a purchase, the company’s products help businesses reach a large audience, advertise their products, and drive conversion of their services.
Yelp has built a broad-based local advertising platform with sophisticated technology, offering a range of free and paid advertising products including cost-per-click and multi-location ads, along with several business page products that allow customers to build a complete online profile that highlights their business and showcases their specialties. In addition to its advertising products, it also offers features and interactive tools to facilitate transactions between consumers and the local businesses they find on the platform.
Thanks to an ambitious, multi-year business transformation plan initiated in 2019 which was designed to drive and sustain long-term growth through product innovation, Yelp has successfully transformed into a stronger and more efficient business. Despite the company’s consistent, long-term growth being interrupted by the covid pandemic, Yelp’s performance in 2021 saw it emerge to deliver record revenue and profitable growth despite a difficult operating environment.
Looking ahead, the company plans to continue enhancing the Yelp experience for consumers, business owners, and advertisers with a comprehensive strategy that focuses on product investments and driving sales in its most efficient channels, which continue to trend towards highly scalable self-serving and multi-location offerings.