History Of Yelp Founded officially in 2004 Created by two PayPal Employees Jerry Stoppelman Russell Simmons It received funding from several investors in the amount of 17 million dollars San Francisco only Now has locations in 40 states and Canada, Ireland, Germany , France and the UK Projected profit by 2010 is 50 million dollars
What is Yelp? Social networking site that allows members to review business in the area Including restaurant's, stores, clubs, hospitals, schools museums etc. Includes what they are looking for Five point rating system Hours of business and parking Written reviews Google maps Phone numbers and address etc.
How is Yelp a Social Network? Members have profiles Friends Forums Chat Groups Build a community and trust Elite members offer credible reviews All ages
Replaced the… Yelp replaced the phonebook Gave users the ability to find everything they were looking for in one place Quick, easy, painless Gives people a sense of how other people feel about a business instead of a food critic
What makes it different It has a filter to filter out a business personal PR The site removes and suspicious reviews positive and negative
Legal trouble Class action law suit from over 10 business Accusing Yelp of extortion Remove or add reviews if companies by advertisement Yelp denies
Yelp trying to prove themselves Created a blog for small business “How to better manage your business reputation on sites like Yelp” Created a new feature that shows any comment removed from site and by who in the filter box
Overall Yelp is great Allows a community to decided what is good Gives people the ability to connect Easy to use and convienent Good free advertisiment for local buisness through members comments Good for tourist and new people in town
What will the future bring Yelp will continue to expand and grow in the United States The more business they have they will probably see more lawsuits They are already expanding world wide and I would expect to see even more growth.