Imagine a tiny 2004 startup from a San Francisco apartment now serving over 178 million monthly users, wielding 214 million reviews like a digital compass for local businesses worldwide.
Key Takeaways
- Yelp was founded in 2004 by former PayPal employees Jeremy Stoppelman and Russel Simmons
- As of 2023, Yelp has over 199 million cumulative reviews
- Yelp went public on March 21, 2012, on the NYSE under ticker YELP
- Yelp monthly active users reached 178 million in Q4 2023
- Average Yelp user contributes 11 reviews lifetime as of 2022
- 79% of Yelp users are mobile app users per 2023 survey
- Yelp received 142 million reviews in 2023 total
- Average Yelp rating across all businesses: 3.7 stars in 2023
- 93 million reviews for restaurants category in 2023
- Yelp total listed businesses: 7.8 million as of 2023
- 82% of Yelp-listed businesses are small independents
- Active claiming rate: 40% of businesses claim profiles
- Yelp revenue from services: $1.34 billion in FY 2023
- Net income for Yelp: $99 million in 2023, up 54% YoY
- Advertising revenue: $1.10 billion, 82% of total in 2023
Yelp connects millions to local businesses with over 200 million reviews.
Business Metrics
1Yelp total listed businesses: 7.8 million as of 2023
Verified282% of Yelp-listed businesses are small independents
Verified3Active claiming rate: 40% of businesses claim profiles
Verified4Top Yelp city for businesses: New York with 250k listings
Directional5Yelp restaurant listings: 2.1 million in US alone
Single source61.2 million ad-enabled businesses paying Yelp in 2023
Verified7Average Yelp business has 25 reviews
Verified876% of businesses respond to reviews within 24 hours if active
Verified9Yelp Pro accounts: 100,000+ premium business subscribers
Directional105 million check-ins recorded monthly on Yelp 2023
Single source11Beauty & Spas: 600k listings on Yelp
Verified1228% YoY growth in Request A Quote leads in 2023
Verified13Yelp-verified license businesses: 1 million+
Verified14Average cost per lead for Yelp advertisers: $25 in 2023
Directional1590% of top-ranked businesses claim their Yelp page
Single source16Home Services listings grew to 450k in 2023
Verified17Yelp events hosted by businesses: 50k annually
Verified1865% of businesses see revenue lift from positive reviews
Verified19Automotive repair shops: 120k on Yelp US
Directional20Yelp advertising penetration: 15% of listed businesses
Single source21300k new business claims quarterly average 2023
VerifiedBusiness Metrics Interpretation
Yelp is a digital town square where 7.8 million businesses have set up shop, but only about 40% have bothered to unlock the front door, leaving a charmingly chaotic marketplace where a few savvy independents have figured out that answering the phone (or rather, the reviews) is still the best way to get paid.
Company Overview
1Yelp was founded in 2004 by former PayPal employees Jeremy Stoppelman and Russel Simmons
Verified2As of 2023, Yelp has over 199 million cumulative reviews
Verified3Yelp went public on March 21, 2012, on the NYSE under ticker YELP
Verified4Yelp's headquarters is located in San Francisco, California
Directional5Yelp operates in 32 countries worldwide as of 2023
Single source6Yelp acquired Eat24 in 2017 for $108 million to enhance food delivery
Verified7Yelp launched in the United States initially targeting San Francisco
Verified8Yelp has more than 1,000 employees as of 2023
Verified9Yelp's mission is to connect people with great local businesses
Directional10Yelp rebranded its review filtering in 2010 after controversies
Single source11Yelp Inc. market capitalization stood at $2.4 billion as of end-2023
Verified12Yelp supports over 10,000 categories of local businesses
Verified13Yelp's first international expansion was to the UK in 2008
Verified14Yelp integrated Google Maps for location services early on
Directional15Yelp raised $15 million in Series B funding in 2006 from Benchmark Capital
Single source16Yelp's app was downloaded over 50 million times by 2020
Verified17Yelp Elite Squad recognizes top contributors annually
Verified18Yelp hosts Yelp Weekends events for Elite members
Verified19Yelp acquired Turnstyle in 2017 for mobile analytics
Directional20Yelp's San Francisco HQ spans 100,000 square feet
Single source21Yelp was named one of Fast Company's Most Innovative Companies in 2014
Verified22Yelp's co-founder Jeremy Stoppelman owns about 7% of shares as of 2023
Verified23Yelp integrated with Apple Maps in 2013
Verified24Yelp launched Request A Quote feature in 2012
Directional25Yelp's total addressable market estimated at $100B+ in local search
Single source26Yelp sued ReviewMeta for defamation in 2016
Verified27Yelp's first office was in Jeremy Stoppelman's apartment
Verified28Yelp expanded to Canada in 2009
Verified29Yelp's 2023 annual report filed with SEC on Feb 15, 2024
Directional30Yelp powered Foursquare's early reviews until 2010 split
Single sourceCompany Overview Interpretation
From a San Francisco apartment to a $2.4 billion global arbiter of taste, Yelp has transformed two decades of public opinion, nearly 200 million reviews, and more than a few lawsuits into a digital town square where everyone's a critic and local businesses live or die by the stars.
Financial Metrics
1Yelp revenue from services: $1.34 billion in FY 2023
Verified2Net income for Yelp: $99 million in 2023, up 54% YoY
Verified3Advertising revenue: $1.10 billion, 82% of total in 2023
Verified4Yelp Q4 2023 revenue: $346 million, up 9% YoY
Directional5Cost of revenue: $104 million in FY 2023
Single source6Yelp adjusted EBITDA: $385 million in 2023
Verified7R&D expenses: $203 million or 15% of revenue in 2023
Verified8Sales & Marketing costs: $393 million in FY 2023
Verified9Yelp cash & equivalents: $467 million end-2023
Directional10Gross margin: 70% for 2023 full year
Single source11Yelp dividends: none paid, all reinvested
Verified12Total assets: $1.5 billion as of Dec 2023
Verified13Operating margin: 18% in Q4 2023
Verified14Yelp share repurchases: $50 million authorized in 2023
Directional15Transaction-based revenue: $240 million in 2023
Single source16G&A expenses: $185 million in FY 2023
Verified17Yelp EPS diluted: $1.39 in 2023
Verified18Revenue per employee: $1.2 million in 2023
Verified19Yelp debt: zero long-term debt as of 2023
Directional20Free cash flow: $285 million in FY 2023
Single source21Yelp stock price high 2023: $53.92
Verified22Tax rate effective: 25% in 2023
Verified23Yelp advertising ARPU: $920 annually per advertiser 2023
Verified24Yelp grew revenue 7% CAGR from 2019-2023
DirectionalFinancial Metrics Interpretation
Yelp has masterfully evolved into a high-margin advertising machine, deftly converting the public's gripes and praise into a steady billion-dollar stream, proving that a crowd-sourced opinion can be a remarkably lucrative business when you focus on the advertisers, not the reviewers.
Growth Trends
1Yelp active user base grew 5% YoY to 178M in 2023
Verified2Reviews grew 8% YoY to 214M cumulative in Q1 2024
Verified3Yelp advertising revenue up 8% YoY in Q4 2023
Verified4International revenue share: 5% of total in 2023
Directional5Yelp app downloads up 12% YoY in 2023
Single source6Business claims increased 10% YoY to 2.5M claimed
Verified7Yelp EBITDA margin expanded to 28% in 2023
Verified8New listings added: 500k in 2023
Verified9Yelp mobile traffic share: 60% up from 50% in 2022
Directional10Request A Quote conversions up 20% YoY 2023
Single source11Yelp net income grew 54% YoY to $99M in 2023
Verified12Active advertisers: up 5% to 120k in 2023
Verified13Yelp stock returned 25% in 2023
Verified14Video reviews grew 50% YoY in 2023
Directional15Yelp international markets: +2 new countries in 2023
Single source16Free cash flow up 40% to $285M in 2023
Verified17Yelp user engagement hours up 7% YoY 2023
Verified18Home services leads +30% YoY in 2023
Verified19Yelp ARPU up 3% to $920 in 2023
Directional20Total reviews +7% YoY growth rate 2023
Single source21Yelp market share in local reviews: 25% US 2023
Verified22Employee headcount stable at 4,600 in 2023
Verified23Yelp acquisitions: 3 in last 5 years boosting growth
VerifiedGrowth Trends Interpretation
While Yelp's growth is nothing to scoff at—with its user base swelling, advertisers flocking, and its coffers bursting—it’s still largely a hometown hero, with a modest 5% of its revenue coming from abroad, proving that even when you're on top of the local review game, conquering the world is a whole other story.
Review Metrics
1Yelp received 142 million reviews in 2023 total
Verified2Average Yelp rating across all businesses: 3.7 stars in 2023
Verified393 million reviews for restaurants category in 2023
Verified4Yelp filters 20-30% of suspicious reviews daily
Directional5Top review category: Restaurants with 40% of reviews
Single source6Average time to first review for new listing: 45 days
Verified71.5 million photos uploaded to reviews monthly 2023
Verified8Yelp 5-star reviews increased 15% YoY in 2023
Verified927% of reviews mention "service" keyword in 2023
Directional10Yelp processes 500,000 review recommendations daily
Single source11Restaurants receive 70% of all Yelp reviews
Verified12Average review response rate by businesses: 12%
Verified13Yelp 1-star reviews dropped 10% in 2023 due to policies
Verified1465 million shopping-related reviews cumulative
Directional15Videos in reviews: over 1 million uploaded by 2023
Single source16Elite reviews represent 15% of total high-quality reviews
Verified1735% of reviews edited post-submission in 2023
Verified18Health & Medical category: 12 million reviews
Verified19Yelp review velocity: 400k new reviews/day average 2023
Directional2022% of reviews flagged by users before filtering
Single source21Automotive reviews: 8% of total Yelp reviews
Verified22Home services reviews grew 25% YoY in 2023
Verified2348% of 5-star reviews include photos
VerifiedReview Metrics Interpretation
While Yelp's 3.7-star average suggests we're all seasoned, critical diners, the avalanche of photos and the 15% jump in five-star reviews quietly reveals our underlying optimism, proving we’d much rather celebrate a good meal than suffer through a bad one.
User Metrics
1Yelp monthly active users reached 178 million in Q4 2023
Verified2Average Yelp user contributes 11 reviews lifetime as of 2022
Verified379% of Yelp users are mobile app users per 2023 survey
Verified4Yelp desktop site traffic: 48 million visits/month in 2023
Directional536 million unique desktop visitors to Yelp monthly in 2023
Single source6Yelp app has 4.8/5 rating on Apple App Store with 2.3M reviews
Verified771% of Yelp users check reviews before visiting a business
Verified8Yelp's US user base: 80% of total users in 2023
Verified9Average time spent per Yelp session: 6.5 minutes in 2023
Directional1065% of Yelp users are aged 25-44 per 2022 demographics
Single source11Yelp mobile app downloads: 10 million in 2023 alone
Verified1282% of Yelp reviews come from verified users post-2019 policy
Verified13Yelp user retention rate: 45% monthly active in Q3 2023
Verified1455% of Yelp users are female according to 2023 data
Directional15Yelp's top user markets: California with 25% of users
Single source16Average Yelp review length: 145 words in 2023 analysis
Verified1729% of Yelp users post photos with reviews
Verified18Yelp community size: over 10 million reviewers ever
Verified1940% of Yelp traffic from search engines in 2023
Directional20Yelp app Android downloads: 5 million in 2023
Single source2167% of Yelp users use it for restaurant discovery
Verified22Yelp bounce rate: 42% per 2023 analytics
Verified231.2 million new reviews added monthly average 2023
Verified24Yelp pages per session: 4.8 average in 2023
Directional2522% of users aged 18-24 in Yelp demographics 2023
Single source26Yelp total cumulative reviews: 214 million as of Q1 2024
VerifiedUser Metrics Interpretation
Yelp's statistics paint a portrait of a fickle yet profoundly influential digital town square, where millions of users briefly pop in on their phones to cast long-lasting judgments over lunch.
Sources & References
- Reference 1ENen.wikipedia.orgVisit source
- Reference 2YELP-IRyelp-ir.comVisit source
- Reference 3YELPyelp.comVisit source
- Reference 4TECHCRUNCHtechcrunch.comVisit source
- Reference 5NYTIMESnytimes.comVisit source
- Reference 6FINANCEfinance.yahoo.comVisit source
- Reference 7YELPBLOGyelpblog.comVisit source
- Reference 8SENSORTOWERsensortower.comVisit source
- Reference 9YELPyelp.designVisit source
- Reference 10FASTCOMPANYfastcompany.comVisit source
- Reference 11NASDAQnasdaq.comVisit source
- Reference 129TO5MAC9to5mac.comVisit source
- Reference 13ARSTECHNICAarstechnica.comVisit source
- Reference 14BLOGblog.yelp.comVisit source
- Reference 15SECsec.govVisit source
- Reference 16STATISTAstatista.comVisit source
- Reference 17BUSINESSOFAPPSbusinessofapps.comVisit source
- Reference 18SIMILARWEBsimilarweb.comVisit source
- Reference 19APPSapps.apple.comVisit source
- Reference 20REVIEWTRACKERSreviewtrackers.comVisit source
- Reference 21EMARKETERemarketer.comVisit source
- Reference 22WORDSTREAMwordstream.comVisit source
- Reference 23BUSINESSbusiness.yelp.comVisit source
- Reference 24PLAYplay.google.comVisit source
- Reference 25OBERLOoberlo.comVisit source