![]() The business model includes factors like: Customers prefer to use yelp to find local businesses Customers of Yelp Furthermore the company has expanded its business model by adding reservation services and food delivery and take out services. The yelp business model is something you should definitely be aware of because it is online business directory which lists and makes local businesses visible to users it also differentiates itself with the crowd sourced reviews of those businesses on its platform. Yelp has an average of 28 million mobile application visitors, 74 million unique mobile web visitors and 83 million unique desktop visitors. First is the local advertising from businesses that want to be featured on yelp which is 76.8% of total revenue and the second one being Brand advertising that displays ads on in order to get more traffic from search engine. Not only that, it generates its revenue from two different kinds off advertising. As of Dec 31, 2018, Yelp has a total of 177.4 million reviews of local businesses.It also generates almost all of its revenue from advertisements like for example in the year of 2011, 91.4% of its revenue came from advertising. Yelp is now known to have 66 million different monthly visitors and more than 5.7 million mobile devices and has collected a total of 25 million reviews since it came out in 2004. The company has known grown because of getting users to write reviews of businesses, engaging them through social networking features and through search engine traffic. ![]() That would value the company at $838.6 million at the high end of that range. According to a report by the wall street journal, Yelp has set a price for their IPO which will sell at 7.15 million shares at a price of $12 to $14. Yelp users can not only search and review businesses but can also create a profile or become friends other users, chat on different online forums and can go for meet ups offline. ![]() Yelp Deals, Home Services, Beauty & Spa services, Food, Health and Medical Yelp has been recognized as a verified and accountable entity in which people can place their trust and access good local businesses. Similarly, Yelp is known to be a brand of its own and was created to enable people to access more businesses online. Every startup needs to utilize any resources that they have in order to get more exposure and attract more customers to their businesses online. Every small startup requires has needed an opportunity that benefits them in the long term. ![]()
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