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Restaurants Think Groupon, Yelp Are Hurting Busines

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A poll taken by Tundra Specialties, a restaurant equipment and supplies company, reveals that many restaurateurs have a negative impression of Yelp and Groupon, two websites that have changed their …

A poll taken by Tundra Specialties, a restaurant equipment and supplies company, reveals that many restaurateurs have a negative impression of Yelp and Groupon, two websites that have changed their businesses significantly in recent years.

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  • 1. RESTAuRATEuRS ThINk YELP, GROuPON ARE huRTING BuSINESSLaunched: 1999 Launched: October 200462 million users; 14,000 participating res- 39 million userstaurants Founder: Jeremy StoppelmanFounder: Chuck TempletonEstimated Value: $2.5 billion Estimated Value: $500 million Yelp is a social networking site that allows Most POSITIVE Effect on RestaurantsOpenTable provides a reservation man- users to post reviews of restaurants andagement service to restaurants and reser- other local businesses.vation creation service to customers. Social Media Sites 53.0% (Facebook, Foursquare, Twitter, etc.) Online Review Sites 16.3%Launched: February 2004 Launched: November 2008500 million users 35 million users (Yelp, Urbanspoon, etc.)Founder: Mark Zuckerberg Founder: Andrew MasonEstimated Value: $50 billion Estimated Value: $25 billionFacebook has become so pervasive in Groupon provides deal-of-the-day coupons Online Reservation Sites 16.3%modern life that it needs no introduction to consumers in 150 markets in North America, (OpenTable, etc.)or explanation. 100 markets around the rest of the world. Discount Sites 14.5% (Groupon, Living Social, etc.) Most NEGATIVE Effect on Restaurants Discount Sites RESTAuRANT INDuSTRY STATS (Groupon, Living Social, etc.) 42.3% 252 billion dollars in sales Online Review Sites (Yelp, Urbanspoon, etc.) 42.9% 486,906 restaurants & bars Social Media Sites 7,754,567 (Facebook, Foursquare, Twitter, etc.) 11.3% paid employees Online Reservation Sites (OpenTable, etc.) 3.6%