Tag Archives: Yelp

Yelp Reports Q3 Earnings, Revenue Jumps to $36M

Yelp reported its earnings for Q3 2012, with net revenue increasing to $36.4 million, up around 63% year-over-year. It also managed to almost halve its net loss to $2 million from $3.8 million last year. Its total net revenue for the first nine months of 2012 increased to $96.4 million.

Jeremy Stoppelman, Yelp’s CEO, said:

“We had a great quarter, fueled by the rich, authentic local content created by Yelpers around the world. Our innovative drive and focus on community are key to capturing the opportunity before us. Mobile remains a top priority and we expect it to be a key driver of engagement and success in the future. As we continue to build Yelp communities around the world and connect consumers with great local businesses, we further fulfill our mission to be the de facto local search engine.”

Yelp continued to expand globally, fueled by cash from its IPO. It launched in Helsinki and Singapore, bringing the total number of Yelp markets to 96. Yelp’s cumulative total reviews grew almost 50% year-over-year to 33 million, and its average monthly unique visitors increased 37% to 84 million. Active local business accounts, the direct metric for its profitability increased 82% to 35.5k.

Yelp saw mobile usage increasing, with nearly 8 million unique devices using its apps, and 45% of all searches originating on mobile devices.

Yelp’s integration with Siri in iOS 6 also helped it boost its mobile app usage. It also launched its redesigned homepage to boost engagement and offer more relevant recommendations.

Yelp is projecting revenue of around $40 million in Q4 2012, which should bring its yearly revenue just short of $140 million.

It ended the quarter with $123 million in cash reserves.

via Yelp – SEC

Yelp Acquires Qype for $50M, Set to Dominate Europe

Yelp may be a juggernaut in the US online recommendations and listings space, but it still has a relatively small presence in the global arena, which is crowded with local competitors. It has been trying to expand internationally in the last couple of years, and recently raised a lot of money through the IPO route to fund its international expansion.

Today, it acquired Qype, its biggest competitor in Europe, for around $50 million in a cash and stock deal.

Yelp is present in 19 countries so far, and acquiring Qype makes it the number one player in Europe.

Yelp has more than 78 million unique monthly visitors, while Qype has around 15 million.

Yelp will start working on integrating their products, starting with mobile first.

Check out Yelp’s official announcement:

Welcoming Qype to the Team

I am excited to share that Europe’s largest local reviews site, Qype, has agreed to be acquired by Yelp and become part of our fast growing company. Welcome!

Our mission is to become the defacto choice for local search globally, connecting people with great local businesses all over the world. We’ve built a great foundation, launching Yelp communities in 19 countries so far. Bringing Qype into the fold will enable us to accelerate our international growth and increase our benefit to consumers and businesses.

Qype’s contributors have written more than two million reviews of local businesses, resulting in more than 15 million monthly unique visitors to the service.

Combine that with more than 30 million Yelp reviews and 78 million unique monthly visitors, and you can see why teaming up will make us even better at helping you find that perfect restaurant/museum/dentist/hair salon/shoe store in Los Angeles/Memphis/London/Hamburg/Singapore. It’s a beautiful thing, really.

So, what’s next? As always, we don’t want to disrupt the consumer experience, so we are going to take a deliberate approach to integrating our products, starting with mobile. For today, we simply want to take a moment to celebrate this new union and welcome all the new members of our family.

via Techcrunch

Yelp Q2 Earnings: Revenue Grows 67% to $33 Million

Yelp announced its earnings for Q2 2012 on August 1. Its revenue grew to $32.7 million, up 67% year-over-year. It also posted a smaller net loss than expected ($2 million), and managed to post impressive growth metrics fueled by its international expansion. Its stock price jumped nearly 20% following the earnings release, and its now trading at nearly $22.

Yelp’s CEO, Jeremy Stoppelman said:

“Yelp’s second quarter performance highlights the underlying power of our model. By focusing almost singularly on cultivating rich, authentic local content, we have created a unique platform that is rapidly becoming the de facto local search engine for connecting consumers with great local businesses. We are now active in 90 Yelp markets around the world and are seeing an increase in our consumer engagement, especially on mobile, where their connection to local businesses is enhanced by the location-based capabilities of their mobile devices.”

Yelp’s cumulative reviews grew to more than 30 million, up more than 54% since Q2 2011. Its average monthly unique visitors also grew 52% to more than 78 million, while registered local business accounts more than doubled to 32,000.

It expanded into 8 new markets in Q2 2011, which brings its total global market presence to 90. Yelp’s mobile app continues to become an increasingly significant part of its business, as it logged nearly 7.2 million monthly unique mobile devices in Q2. It continues to add features to its mobile apps, and the integration with Apple in iOS 6 would only further boost its mobile usage. Yelp also tied up with Microsoft’s Bing to power local search on it.

Yelp ended the quarter with nearly $122.6 million in cash and cash equivalents. Its cash burn rate has decreased in the last couple of quarters, and it seems on track to turn a profit soon.

via Yelp – SEC

Facebook Launches New Geolocation Service: Facebook Places

Facebook has launched its long awaited geolocation service, Facebook Places. Places is very similar to other location based services like Foursquare and Gowalla. It allows you to check in to places you visit, and also tag friends with you at the same place. You can also edit the privacy controls to disable tagging with Places.

You can view the recent activity of your friends at the place you are checking in. There is also a “People Here Now” section which allows you to see others who are checked in at the same place at that time. You can prevent yourself from being added to the section by editing your privacy controls.

Facebook Places

Facebook is also working with companies like Foursquare, Gowalla, Booyah and Yelp; they can use the Places API in their applications to get and send location data to and from Facebook.

Facebook Places is currently available only for users in the US. To start using Places, you can download the latest version of Facebook for iPhone or use touch.facebook.com if your mobile browser supports HTML 5 and Geolocation.

Facebook has a 500 million user base which is much higher than all the other location services combined. With Places, it can also rule the geolocation space.

Companies Who Walked Out on Google Deals [Failed Acquisitions]

Google, the company and the brand has grown tremendously over the years. It is known best for it’s innovations and best use of technology. However, not each and every technology that Google provides is created by them. They have been purchasing companies, both small and big to supplement their existing technologies and to create new ones.

google_failed_takeover_deals

This approach is of course beneficial, as they do not have to start from scratch and get access to a readymade and proven technology. However, not every company that Google has set their eyes on have accepted the deals. There have been quite a few companies who have rejected lucrative Google offers too.

So who are the braveheart companies who rejected offers from Google? Let us take a look at the companies from what we know. I have tried my best to include most of them, however, if you do know of any other busted deals, feel free to leave a comment.

Yelp

Google’s aim to take over the local search market took a huge jolt when Yelp walked out of discussions. There is still a lot of speculation, whether it was Google or Yelp who actually walked out of the deal. However, the deal is now off the table and you will no longer see a Google-Yelp merger, at-least in the near future.

Lala

Lala is a music company which allows users to stream music online. Though Lala was bought by Apple, there are speculations that Google had tried to buy them out before Apple did. However, Google now have a new deal with Lala to help users discover new music in Google music search

Twitter

has always been a target for the tech biggies including Google, Microsoft and . There were talks held between Google and Twitter for a possible buyout, however, Evan Williams held out splendidly and did not sell under pressure. Twitter now has deals with both Microsoft and Google, and are also making money and profitable.

Skype?

There were rumors going around in 2008 that Skype and Google are in talks for a partnership, however, nothing came out of it. Acquiring Skype would have given a huge boost to Google, however, they do have Google Voice which has taken off in a good way and have also acquired Gizmo5 recently.

Friendster

Friendster was perhaps the first company to not go along with Google. They rejected a deal from Google in 2004. Google then went ahead to create , which is one of the most popular social networking sites in India and Brazil.

Other Notable Failures

There have been other notable failures in the past, which failed at negotiation stages or due to governmental policies, these include:

Are there any other failed Google Deals you have come across? Let us know through your comments.he

Yelp Says ‘No’ To Google Deal

We recently talked about the possible acquisition of Yelp by Google for half a billion dollars. It is being reported that everything was agreed upon and the deal was ready to be signed but Yelp CEO Jeremy Stoppleman reportedly has turned down the offer.

No reason has been provided so far as to why Stoppleman suddenly had a change of mind. This is surprising since there are no reports of other potential buyers. Speculation suggests Yelp might try to stay independent by forming strategic partnerships with Microsoft or Apple.

Whatever the case, Stoppleman must have a pretty good reason to walk away from a $550 Million deal.