Yelp Sees Massive Revenue Increase
Yelp released its earnings report for the second quarter on Wednesday with revenue up 69% year-over-year at $55 million, beating Wall Street expectations.
The company also announced that cumulative reviews were up 41% year-over-year at over 42.5 million, average monthly unique visitors were up 38% to about 108 million, and active local business accounts grew 62% to about 51,400.
“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 CEO Jeremy Stoppelman. “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.”
Acquiring SeatMe and adding transactions are among the things Yelp has been doing to “close the loop” for businesses.
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