Yelp is a social netwoking site and a multinational corporation which headquartered in San Francisco, California. The main function of this site is to operates an “online urban guide” and business review site. This site launched in 2004 by Yelp was founded by Jeremy Stoppelman and Russel Simmons. First this site work as an email service for exchanging local business recommendations, and later introduced social networking features, discounts, and mobile applications. This site has popular to all over the world but used by mainly Brazil, Canada, Japan, Mexico, New Zealand, Singapore , Argentina, Australia, and parts of Europe.
Google.inc try to buy this company but they failed for the demand of this company. Yelp Inc. received $130 million in venture finance as a privately held company, and began public trading of its stock on the New York Stock Exchange in 2012.
Internet services and features
The company’s website provides a search tool by which visitors can access business reviews for companies that provide specific types of products and services in their area. Listings are accessible on many mobile devices and include stores, service companies, cultural venues and public places. Business owners may submit information to update their business profile.
The company released an application programming interface API in August 2007, which gave developers the ability to use data from Yelp’s business listings in third-party applications.
The company’s primary source of income is through business advertising on its Yelp website, including preferred search result placement and special listing features. As of August 2013, 80% of Yelp Inc.’s revenues were being generated through merchant profile enhancements and advertisements on its website.
Yelp Inc.’s website encourages visitors to review and rate businesses using a 5-point rating system. The company uses a filter designed to isolate fake reviews.As a result, 25% of user reviews are stored in a secondary location on the website. This filtering system disqualifies suspicious users’ reviews from being used in the calculation of a merchant’s star rating on the Yelp website.
The company’s website contains a discussion forum and other social networking features.It offers “praise and attention” to user reviewers plus special status and social events for its most popular, prolific and “elite” members.
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