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Yelp Reports 69 Percent Increase in Net Revenue in Second Quarter of 2013
The local discovery and review service provider Yelp reports revenues of US$ 55 million in the second quarter of 2013.
Yelp connects people with local businesses. By the end of the second quarter of 2013, Yelp users had written more than 42.5 million local reviews, making Yelp the leading local guide for real word-of-mouth on everything from boutiques and mechanics to restaurants and dentists. Yelp mobile continues to grow rapidly. In the second quarter of 2013, approximately 40 percent of local ads were shown on mobile devices and approximately 59 percent of searches were on mobile, including mobile web and app. Additionally, Yelp launched a number of mobile upgrades including the Nearby feature which suggests businesses and activities based on location, behaviour, friends’ activities and other data. Yelp's mobile applications were used on approximately 10.4 million unique mobile devices on a monthly average basis during the second quarter 2013.

“We had a great second quarter with strong execution in all areas of our business as the Yelp brand becomes increasingly prevalent around the world,” said Jeremy Stoppelman, Yelp's chief executive officer. “In the second quarter, we launched new features on the mobile app and created a Call to Action feature, yet another way for us to close the loop between consumers and local businesses. As we look to the rest of the year, we will continue to focus on driving innovation in mobile, integrating Qype, and closing the loop with local businesses.”
MWC
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