How Yelp Has Impacted Business - 1412 Words

Yelp is a popular crowd-sourced local business review and social networking site. This paper aims to find out about how Yelp has impacted business’s. In my research I have found that Yelp impacts business’s positively and negatively. Consumers are becoming more familiar with online review sites like yelp, therefore putting more trust into them. These reviews are influencing potential new customers in the market. Positive reviews are associated with generating more profit and revenue. The Impact of Yelp It’s hump day, and my roommate and I are deciding on what to eat. We’re looking for something economical without sacrificing taste. As we wander through UTC, we walk pass Chipotle, Yogurtland, Blaze Pizza etc. With so†¦show more content†¦Description of Yelp Yelp is a major multinational company with main offices located in San Francisco. It was founded by former PayPal staff in 2004; intended as an email referral center, then re-launched. Yelp quickly grew and received positive reviews form consumers. It is approximated that Yelp has made more than $30 million in terms of revenue. Yelp also creates, markets, and hosts yelp mobile application and yelp.com mail. The company also conducts training to small business’s on how to responsibly react to reviews. (Funk 2013) Yelp can be termed as a crowd-cause business that implores on reviews and also acts as a social networking place. Users and reviewers submit their reviews on particular pro ducts and services of their choice and rate them with stars ranging from one to five (Faltings et al, 2012) All businesses in Yelp’s website are able to correct or change basic information about their products, hours of operations, update contacts or information and other necessary special needs. Users are also given a platform to: react to different reviews about different products and services, come up with social events and interact freely with each other. According to research Yelp is one of the most interactive and important site on the Internet, with more than 34 user- based cities. Yelp application for phones has enabled users to follow, search and review faster using smart phones. It is becoming increasingly vital for all business owners