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Red Herring reports that Yelp, the San Francisco social networking site that also has reviews of restaurants, shows and other things around town, has landed between $3 million and $8 million in venture capital backing from Bessemer Venture Partners.
Yelp’s chief executive, Jeremy Stoppleman, 28, said he plans to use the funds to boost the site’s user base and work on marketing efforts in San Francisco and other cities. In September, the site managed to attract 100,000 unique visitors from the San Francisco area, the company said.
There’s a lot of competition in this space, namely Tribe, Judy’s Book, Backfence, and all kinds of other related sites…
2 Comments
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getvendors said:
It seems like a deja vu with consumer portal valuations based on market potential and audience size. It is not necessarily bad but it is now the responsibility of these companies to not get entraped into web 1.0 kind of marketing hype or be complacent with the “first mover advantage” and “unique visitors”. These things can disappear in thin air in no time if someone else comes up with new concepts. So with money, these folks should develop technology that changes user’s not only web experience but real life experience. Make sure user is getting real value. Only that can the sustainable asset and it will prove the valuations right. You can not measure success of a portal with the same standards as a blog.
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another local business directory said:
i totally agree. i think the site most closely related to yelp, that actually, affects real life experience, is wuraweb.com (http://www.wuraweb.com). this 1 is just not showing others reviews, and playin on the community sites(the trend) but it shows the prices of each service, the contacts, credentials, and reviews. which i think eliminates the purpose of yelp itself anyway. and they got no funding(@ least yet), so i think they r doing their, what i call “noble purpose site” (every1 has 1, its always their 1st project, that has noble intentions, real purpose, and inspiration, blood, sweat and tears behind it).
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5:46 am
SiliconBeat said:
YouTube, and the many PayPal fathers
Updated It’s official. YouTube of Menlo Park has raised venture capital from one of Silicon Valley’s top-dog venture capital firms, Sequoia Capital. Unlike the preliminary whisper last month that the round was for $5 million, the round is actually $3.5…
7:11 am
SiliconBeat said:
Judy’s Book raises cash. Psst: It’s pretty crowded.
Judy’s Book, a Web site which lets people swap tips about their local community, said it has raised $8 million in more venture backing. Judy’s Book is not based in Silicon Valley (it is in Seattle), but we mention it because it is the latest in a heal…