Guest Post Since the mid-1990s, entrepreneurs have been trying to tackle the local market. Many have failed. Others, like Yelp and Groupon, have been successful selling services to small businesses, but those services are of dubious value. (Disclosure: I have puts against Yelp and Groupon.)
Earnings season starts this week for tech companies, and no one is expecting outstanding second-quarter results. If the reports turn out to be weaker than expected, then tech investors might run for the hills, the San Jose Mercury News reported.
Guest Post In day one of its Google I/O developer conference yesterday, Google upped the ante with many long-term foes and entered some new spaces.
Just a day after Facebook quietly added a feature to find your friends nearby, Apple has reportedly added similar functionality courtesy of its relationship with local business review service Yelp.
Guest Post Have you had the feeling the quality of Groupon deals is going down? If so, you’re right. A report released this morning by Giorgos Zervas, a postdoctoral fellow of computer science at Yale University, shows that the average rating of a Groupon merchant before a deal runs is declining as Groupon matures. Zervas and other researchers had shown earlier that a business’s individual Yelp ratings dropped after running a Groupon. Yelp ratings by Groupon customers were, on average, 10% lower than those of their peers. (Disclosure: I met Zervas after the initial study and offered my theory that the average Yelp rating of merchants featured would be declining.)
Yelp made $27.4 million in revenue during the first of 2012, a 66 percent jump from last year, the company reported in its first quarterly earnings call Wednesday.
The other day, I tweeted “I should be able to ban anyone who rates Applebee’s 4* from ever influencing a Yelp result for me.” That sentiment touched a nerve among my followers. Shervin Pishevar of Menlo Ventures coined it “ The Agrawal-Applebee Law”.
In the first quarter of 2012, investor confidence rose to the highest point it’s been in more than a year. The latest Silicon Valley Venture Capitalist Confidence Index — which measures how much statup investing confidence VCs have — shows a significant jump in confidence over the fourth quarter of 2011.
I’ve spent much of the last year talking about how the sites small businesses rely on to advertise and promote themselves — think Yelp and Groupon — are failing them. In fact, helping small businesses at the local level is extremely challenging for technology companies, for the following reasons:
Review site Yelp, which has turned into a ubiquitous guide to restaurants, opened 60 percent above its strike price of $15 today, valuing the company at $1.43 billion or roughly 17 times its annual revenue.
Guest Post As more advertising dollars move online, publishers and marketers are finding themselves in a new world. We’re moving from scarcity of information and distribution to abundance.
Yelp’s advertiser agreement combines some of the worst elements of Yellow Pages, Aol and cell phone agreements. As with many such agreements, it’s very lopsided in Yelp’s favor. (See my analysis of the similarly lopsided Groupon merchant agreement.)
Guest Post Twitter has announced a new partnership with American Express to allow small businesses to advertise on the popular social network. The program is due to launch in late March for American Express cardholders and merchants.
Guest Post Defenders of Yelp’s $600 CPM rate for small business advertising often justify the rate by saying Yelp’s narrow focus means consumers are highly likely to convert.
Editor's Pick Path got caught red-handed uploading users’ address books to its servers and had to apologize. But the relatively obscure journaling app is not alone. In fact, Path was crucified for a practice that has become an unspoken industry standard.
Editor's Pick Yelp!
We like to have fun in the VentureBeat writers’ lounge, but we don’t think we’re having as much fun as whoever is behind Stefon’s Yelp account.
Guest Post Google’s new Search plus Your World product, announced yesterday, is making a lot of waves. The new search puts content shared by your friends in the Google+ social network higher up in search results than other content — a move that’s raised antitrust concerns.
As photos become the new status update, we’re going to see big changes in the way people create, combine and consume words and images. The latest example is from a 500 Startups company called Tiny Review, which unites microblogging and social photo-sharing in its free photo storytelling app. And with a new update for the app out today, the Tiny Review craze is about to take off.
Being successful in business is about knowing what your competitors know and being able to act on it. If you could find out what kinds of work tools are helping your competitors stay lean and mean, it could be a real leg up. You can’t just call up a competitor and ask. But a new startup called BestVendor is creating a Yelp-like recommendations network around work apps to make that kind of tool discovery possible.
Guest Post Yelp’s S-1 for its upcoming IPO is a breath of fresh air. After five months of studying the S-1 of daily deals site Groupon, I’m glad to see local-business-reviews site Yelp come out with a reasonably clean document.Groupon tortured many accounting rules and made up some of its own (forcing it to amend its S-1 repeatedly and delaying its IPO), but Yelp seems to be playing by the books.
VentureBeat’s weekly video show returns with a quick discussion of some of the week’s highlights in tech business.
Groupon went public earlier this month. Angie’s List went public Wednesday and saw its shares surge 25 percent the following day. And on Thursday, Yelp filed for a $100 million IPO. Has the tech IPO window has opened again, and if so, how long it will stay open?
Yelp filed for an initial public offering today. Here are some of the interesting numbers in the filing.