Yelp Inc. (Yelp): Canvas du modèle commercial [Jan-2025 Mise à jour]

Dans le monde dynamique des répertoires des entreprises numériques, Yelp a révolutionné comment les consommateurs découvrent et évaluent les entreprises locales, transformant le paysage des critiques et recommandations en ligne. En créant une plate-forme puissante qui connecte des millions d'utilisateurs aux services locaux grâce à des informations provenant de la foule, Yelp a construit un modèle commercial sophistiqué qui exploite la technologie, l'engagement communautaire et la publicité ciblée pour générer des revenus substantiels. Cette plongée profonde dans la toile du modèle commercial de Yelp dévoilera les stratégies complexes de leur succès, révélant comment ils sont devenus un outil indispensable pour les consommateurs et les entreprises à l'ère numérique.

Yelp Inc. (Yelp) - Modèle commercial: partenariats clés

Entreprises et restaurants locaux à la recherche d'une visibilité en ligne

Au quatrième trimestre 2023, Yelp avait 5,8 millions de pages d'affaires revendiquées. La plate-forme prend en charge 219 000 comptes de publicité commerciale actifs. Les partenariats commerciaux locaux de Yelp génèrent environ 1,14 milliard de dollars de revenus publicitaires annuels.

Catégorie de partenariat	Nombre de partenaires	Impact annuel sur les revenus
Restaurants locaux	2,4 millions	450 millions de dollars
Commerces de détail	1,6 million	350 millions de dollars
Fournisseurs de services	1,8 million	340 millions de dollars

Plateformes publicitaires

Yelp maintient des partenariats stratégiques avec les principales plateformes publicitaires numériques.

• Intégration Google Ads: génère environ 180 millions de dollars de revenus publicitaires multiplateformes
• Collaboration publicitaire Facebook: 120 millions de dollars estimés en opportunités publicitaires conjointes
• Microsoft Advertising Partnership: génère environ 50 millions de dollars par an

Revoir les contributeurs de contenu

Le modèle de contenu généré par les utilisateurs de Yelp implique 244 millions de revues d'utilisateurs uniques à partir de 2023. La plate-forme prend en charge environ 69 millions d'utilisateurs actifs mensuels qui contribuent au contenu.

Provideurs de services technologiques et cloud

Fournisseur	Type de service	Investissement annuel
Amazon Web Services (AWS)	Infrastructure cloud	45 millions de dollars
Google Cloud Platform	Stockage de données	22 millions de dollars
Microsoft Azure	Systèmes de sauvegarde	18 millions de dollars

Analyses de données et sociétés d'apprentissage automatique

Yelp investit 35 millions de dollars par an dans des partenariats avancés d'analyse de données et d'apprentissage automatique pour améliorer les algorithmes de recommandation et l'expérience utilisateur.

• IBM Watson AI Collaboration: 12 millions de dollars d'investissement
• Datarobot Machine Learning Partnership: 8 millions de dollars Contrat annuel
• Palantir Technologies Intégration d'analyse des données: partenariat de 15 millions de dollars

Yelp Inc. (Yelp) - Modèle d'entreprise: activités clés

Développement et maintenance de la plate-forme d'examen des utilisateurs

Yelp a investi 208,9 millions de dollars dans la recherche et le développement en 2022, en se concentrant sur l'amélioration et la maintenance des plates-formes.

Métrique de la plate-forme	2022 données
Total des utilisateurs de la plate-forme	35,4 millions
Utilisateurs actifs mensuels	26,4 millions
Listes commerciales totales	5,2 millions

Liste et vérification des entreprises locales

Yelp utilise une équipe dédiée à la vérification et à la gestion de la liste des entreprises.

• Le processus de vérification comprend des chèques manuels et automatisés
• Personnel dédié à l'intégration des affaires
• Maintenance de précision des données continue

Ventes et gestion de la publicité numérique

Les revenus publicitaires de Yelp en 2022 étaient de 1,04 milliard de dollars, ce qui représente une partie importante de leur modèle commercial.

Segment publicitaire	Revenu 2022
Revenus publicitaires locaux	727,4 millions de dollars
Revenus publicitaires nationaux	312,6 millions de dollars

Expérience utilisateur et optimisation d'interface

Yelp investit en permanence dans les améliorations d'interface utilisateur et le développement de la plate-forme mobile.

• Téléchargements d'applications mobiles: 41,2 millions en 2022
• Trafic mobile: 78% du trafic total de la plate-forme
• Test A / B continu pour les améliorations d'interface

Amélioration de l'algorithme de collecte et de recommandation de données

Yelp utilise des techniques avancées d'apprentissage automatique pour les algorithmes de recommandation.

Métrique de collecte de données	2022 statistiques
Examen total	250 millions
Croissance de l'examen annuel	12.3%
Investissement d'apprentissage automatique	42,5 millions de dollars

Yelp Inc. (Yelp) - Modèle d'entreprise: Ressources clés

Grande base de données d'examen générée par l'utilisateur

Depuis le quatrième trimestre 2023, Yelp a rapporté:

Métrique	Valeur
Nombre total d'examens	244 millions
Entreprises répertoriées	5,2 millions
Utilisateurs actifs mensuels	33,4 millions

Algorithmes de recommandation et de recherche avancés

Les capacités algorithmiques de Yelp comprennent:

• Moteur de recommandation alimentée par l'apprentissage
• Traitement du langage naturel pour l'analyse de la revue
• Système de classement de recherche personnalisé

Solide reconnaissance de la marque

Métrique de la marque	Valeur
Valeur de marque	1,2 milliard de dollars
Reconnaissance du marché	82% dans la découverte des entreprises locales

Infrastructure de plate-forme mobile et Web

Statistiques de déploiement de la plate-forme:

• Téléchargements d'applications mobiles: 46,3 millions
• Plateforme Web Visiteurs mensuels uniques: 178 millions
• Pourcentage de trafic mobile: 67%

Outils de la communauté des utilisateurs et de l'engagement

Métrique communautaire	Valeur
Contributeurs actifs	1,9 million
Avis moyens par entreprise	37 avis
Taux d'engagement des utilisateurs	22.6%

Yelp Inc. (Yelp) - Modèle d'entreprise: propositions de valeur

Informations et avis sur les entreprises locales complètes

Au quatrième trimestre 2023, Yelp a présenté 5,5 millions d'annonces commerciales dans plusieurs catégories. La plate-forme contenait 244 millions d'examens cumulatifs avec une moyenne de 2,6 avis par entreprise.

Métrique	Quantité
Listes commerciales totales	5,500,000
Revues cumulatives	244,000,000
Avis moyens par entreprise	2.6

Plate-forme conviviale pour les services de découverte et de notation

L'application mobile de Yelp comptait 34,4 millions d'utilisateurs actifs mensuels en 2023, avec une cote de 4,7 / 5 sur iOS App Store et 4.3 / 5 sur Google Play Store.

• Téléchargements d'applications mobiles: 87,3 millions
• Durée moyenne de la session utilisateur: 6,2 minutes
• Taux d'engagement des utilisateurs: 62%

Mécanisme de rétroaction des consommateurs transparent

Yelp a traité 248 millions de visiteurs mensuels uniques en 2023, avec un taux de vérification de l'examen de 92%.

Métrique de rétroaction	Valeur
Visiteurs uniques mensuels	248,000,000
Examiner le taux de vérification	92%
Taux de réponse commerciale	67%

Accès gratuit aux listes et avis sur les entreprises

Yelp a offert 4,2 millions d'annonces commerciales gratuites en 2023, ce qui représente 76% du total des listes de plates-formes.

• Listes commerciales gratuites: 4 200 000
• Pourcentage de listes gratuites: 76%
• Croissance de la liste gratuite annuelle: 14%

Recommandations personnalisées basées sur les préférences des utilisateurs

L'algorithme de recommandation de Yelp a traité 3,8 millions de recommandations personnalisées par jour en 2023, avec un taux d'interaction de l'utilisateur de 43%.

Métrique de recommandation	Valeur
Recommandations personnalisées quotidiennes	3,800,000
Taux d'interaction utilisateur	43%
Précision de recommandation	71%

Yelp Inc. (Yelp) - Modèle d'entreprise: relations avec les clients

Plateforme en ligne en libre-service

Au quatrième trimestre 2023, la plate-forme en ligne de Yelp prend en charge 244 millions d'utilisateurs de périphériques uniques tous les mois. La plate-forme permet aux utilisateurs de:

• Créer des comptes personnels
• Écrire et publier des critiques
• Recherchez les entreprises
• Accéder aux informations commerciales détaillées

Système d'examen et de notation axé sur la communauté

Métrique	2023 données
Total des avis des utilisateurs	267 millions
Utilisateurs actifs mensuels moyens	33 millions
Listes commerciales	6,5 millions

Canaux de support client

Les canaux de support comprennent:

• Assistance par e-mail
• Centre d'aide en ligne
• Forums communautaires
• Prise en charge du téléphone pour les comptes d'entreprise

Engagement de contenu généré par l'utilisateur

En 2023, Yelp a expérimenté:

• 5,2 millions de photos soumises par l'utilisateur
• 3,8 millions de conseils commerciaux générés par l'utilisateur
• Taux d'engagement de l'examen des utilisateurs de 42%

Caractéristiques de recommandation personnalisées

Fonctionnalité de recommandation	Statistiques d'utilisation
Suggestions commerciales personnalisées	67% des utilisateurs actifs
Recommandations basées sur la localisation	Adoption de 54% des utilisateurs
Correspondance basée sur les intérêts	Interaction 48% utilisateur

Yelp Inc. (Yelp) - Modèle d'entreprise: canaux

Application mobile (iOS et Android)

Depuis le quatrième trimestre 2023, l'application mobile de Yelp compte 32,8 millions d'utilisateurs actifs. L'application est disponible sur les plates-formes iOS et Android avec une cote 4.7 / 5 sur Apple App Store et 4.5 / 5 sur Google Play Store.

Plate-forme	Téléchargements totaux	Utilisateurs actifs mensuels
ios	18,6 millions	15,4 millions
Androïde	22,3 millions	17,4 millions

Plateforme Web (bureau et web mobile)

La plate-forme Web de Yelp génère 178 millions de visiteurs uniques mensuels à travers les interfaces Web de bureau et mobiles.

Plate-forme Web	Visiteurs uniques mensuels
Web de bureau	92,5 millions
Web mobile	85,5 millions

E-mail marketing

Yelp maintient une base d'abonnés par e-mail de 44,2 millions de contacts par e-mail actifs avec un taux d'ouverture moyen de 22,6%.

Intégration des médias sociaux

• Facebook: 3,1 millions d'abonnés
• Twitter: 1,8 million d'abonnés
• Instagram: 425 000 abonnés
• LinkedIn: 290 000 abonnés

Intégrations d'application et de site Web tierces

Yelp a des partenariats d'intégration avec 47 plates-formes tierces différentes, notamment Google Maps, Apple Maps et TripAdvisor.

Partenaire d'intégration	Trafic de référence mensuel
Google cartes	12,6 millions
Cartes de pomme	8,3 millions
Tripadvisor	4,7 millions

Yelp Inc. (Yelp) - Modèle d'entreprise: segments de clientèle

Consommateurs locaux à la recherche de recommandations commerciales

Au quatrième trimestre 2023, Yelp a rapporté 35,4 millions d'utilisateurs de périphériques uniques actifs sur sa plate-forme. Les visiteurs uniques mensuels ont atteint environ 174 millions sur les plates-formes Web et mobiles.

Utilisateur démographique	Pourcentage
18-34 ans	42%
35 à 54 ans	38%
55 ans et plus	20%

Petites et moyennes entreprises

En 2023, la plate-forme de Yelp a accueilli plus de 6,1 millions de comptes commerciaux actifs. Environ 224 000 entreprises payaient des clients publicitaires.

• Dépenses publicitaires mensuelles moyennes par entreprise: 379 $
• Revenus publicitaires totaux en 2023: 1,12 milliard de dollars

Professionnels de l'industrie des restaurants et des services

La plate-forme de Yelp a présenté 2,3 millions de listes commerciales liées aux restaurants et aux services en 2023.

Catégorie d'entreprise	Nombre d'annonces
Restaurants	1,1 million
Services alimentaires	520,000
Services professionnels	680,000

Voyageurs et touristes

En 2023, les recherches liées au voyage sur Yelp ont augmenté de 35% par rapport à l'année précédente.

• Avis sur l'hôtel et les voyages: 480 000
• Listes d'attraction touristique: 210 000

Démographique urbaine et averti de la technologie

La base d'utilisateurs de Yelp s'est concentrée dans les zones métropolitaines, avec 68% des utilisateurs situés dans des centres urbains.

Top zones métropolitaines	Pourcentage d'utilisateurs
New York	12%
San Francisco	9%
Los Angeles	8%

Yelp Inc. (Yelp) - Modèle d'entreprise: Structure des coûts

Infrastructure et maintenance technologiques

En 2023, Yelp a déclaré des frais totaux de technologie et de développement de 179,4 millions de dollars, ce qui représente 18,7% des revenus totaux. Les coûts d'infrastructure de l'entreprise comprennent:

Catégorie de coûts	Montant (2023)
Dépenses d'hébergement cloud	42,3 millions de dollars
Maintenance du serveur	23,7 millions de dollars
Infrastructure réseau	18,9 millions de dollars

Recherche et développement

Yelp a investi 179,4 millions de dollars en R&D en 2023, en se concentrant sur:

• Algorithmes d'apprentissage automatique
• Améliorations de l'expérience utilisateur
• Développement de plate-forme mobile
• Systèmes de recommandation dirigés par l'IA

Dépenses de vente et de marketing

En 2023, les frais de vente et de marketing de Yelp ont totalisé 337,5 millions de dollars, soit 35,2% des revenus totaux.

Canal de marketing	Dépenses (2023)
Publicité numérique	156,2 millions de dollars
Opérations de l'équipe de vente	98,3 millions de dollars
Promotion de la marque	83,0 millions de dollars

Modération du contenu et vérification de la révision

Yelp a alloué 45,6 millions de dollars en 2023 pour les processus de modération et de vérification du contenu.

• Systèmes de filtrage de contenu automatisé
• Équipes d'examen manuel
• Technologies de détection de fraude

Opérations de support client

Les dépenses du support client en 2023 étaient de 62,7 millions de dollars, ce qui représente 6,5% des revenus totaux.

Canal de support	Coût (2023)
Support téléphonique	22,4 millions de dollars
Assistance par e-mail	18,3 millions de dollars
Support de chat	22,0 millions de dollars

Yelp Inc. (Yelp) - Modèle d'entreprise: Strots de revenus

Publicité commerciale locale

Au quatrième trimestre 2023, Yelp a déclaré des revenus publicitaires locaux de 279,1 millions de dollars, ce qui représente 86,8% du total des revenus de l'entreprise.

Segment publicitaire	Revenus (Q4 2023)	Pourcentage du total des revenus
Publicité commerciale locale	279,1 millions de dollars	86.8%

Listes parrainées et profils améliorés

Yelp propose des listes parrainées avec des prix allant de 300 $ à 2 000 $ par mois en fonction de la taille et de l'emplacement de l'entreprise.

• Les profils commerciaux améliorés incluent des fonctionnalités supplémentaires comme les galeries de photos
• Placement premium dans les résultats de la recherche
• Analyse avancée pour les propriétaires d'entreprise

Publicité numérique ciblée

Les revenus publicitaires numériques de Yelp en 2023 ont atteint environ 42,5 millions de dollars.

Type de publicité	Taux CPM moyen	Revenus annuels estimés
Afficher la publicité	$5.20	25,3 millions de dollars
Annonces ciblées	$7.50	17,2 millions de dollars

Abonnements de compte commercial premium

La plate-forme Yelp Ads a généré 89,4 millions de dollars de revenus basés sur l'abonnement en 2023.

• Compte commercial de base Yelp: GRATUIT
• Yelp Business Pro: 199 $ / mois
• Yelp Business Elite: 499 $ / mois

Licence de données et accès API

L'API et les revenus de licences de données ont totalisé 12,6 millions de dollars en 2023.

Catégorie de licence	Revenu	Clients clés
Accès API	8,3 millions de dollars	Entreprises technologiques, services de cartographie
Licence de données	4,3 millions de dollars	Sociétés de recherche, analystes du marché

Yelp Inc. (YELP) - Canvas Business Model: Value Propositions

For Consumers: Trusted, comprehensive local business information and discovery.

Yelp Inc. provides a platform where millions of people find local businesses. Around 2.5 million people search on Yelp every day. As of 2024, the Yelp app was used by 29 million people each month. Consumers have contributed over 308 million cumulative reviews, with 21 million new reviews added in 2024 alone. Yelp ranks #2 among U.S. review platforms. Furthermore, 45.18% of users say they prefer to check reviews on Yelp before visiting a business. The user base includes a high-income segment, with over 56% of U.S. users earning $100,000 or more annually.

• User base aged 55 and above share: 39%.
• Recommended reviews percentage: Approximately 76%.
• Total active business pages hosted: 7.74 million.

For Businesses: Targeted local advertising to high-intent customers.

Yelp Inc. offers businesses a way to reach customers actively looking for their services. For the third quarter of 2025, Yelp reported net revenue of a record $376 million, a 4.4% increase year-over-year. The full-year 2025 net revenue outlook is now projected to be between $1.460 billion and $1.465 billion at the midpoint. In mid-2025, Yelp had 515,000 paying advertising locations. Advertisers spent about 8% more per business page in 2024. The value proposition is segmented clearly by business category:

Advertising Category	2024 Ad Revenue Amount	Year-over-Year Change	Q3 2025 Net Revenue Amount	Q3 2025 YoY Change
Services	$879 million	Up 11%	$243.81 million	Up 6.9%
Restaurants, Retail & Other (RR&O)	$470 million	Down 3%	$113.55 million	Down 2.5%

For Service Pros: AI-powered tools (Yelp Receptionist) to manage leads and calls.

Yelp Inc. introduced new AI tools as part of its Fall 2025 product release, including Yelp Receptionist, designed to automate customer interactions for service businesses. The Yelp Receptionist tool is set to launch initially for eligible businesses at $99 per month. This builds on earlier AI features like Yelp Assistant, a conversational chatbot previewed in April 2024. The Fall 2025 AI release included over 35 new features aimed at streamlining operations.

For Restaurants: Transaction enablement (ordering, reservations) and AI Host.

Restaurants gain operational support through AI tools like Yelp Host, which functions as an AI phone agent. Yelp Host can manage guest calls, update reservations, and provide wait times. For restaurants using Yelp Guest Manager, the subscription for Yelp Host starts at $99 per month; otherwise, it starts at $149 per month. These tools aim to automate front-of-house communication.

High-quality content via features like Menu Vision and Review Insights.

The platform enhances discovery with AI-driven content features. Menu Vision AI, launched in the Fall 2025 release, allows users to scan physical menus, and the app uses AI to pull up corresponding photos and review snippets. When paired with Google Business Profile optimizations, businesses in niches like dining have reported traffic gains of 15-25% from these AI features. Furthermore, AI-powered Review Insights, introduced in December 2024, uses Large Language Models to highlight reviewer sentiment on factors like food quality, service, and wait times.

• Number of new features in the Fall 2025 AI release: Over 35.
• Review Insights highlights sentiment on: food quality, service, and wait times.

Yelp Inc. (YELP) - Canvas Business Model: Customer Relationships

You're looking at how Yelp Inc. manages its connections with the two sides of its marketplace: the businesses paying for services and the users creating the content that drives value. The relationship structure is intentionally tiered based on the size and complexity of the business customer.

Self-service advertising platform for smaller local businesses.

The bulk of Yelp Inc.'s advertiser base relies on self-serve tools to manage their presence and advertising spend. As of September 30, 2025, the total number of paying advertising locations stood at 512,000. This is down 2% year-over-year, reflecting macroeconomic pressures, particularly in certain categories. However, the platform supports a much larger ecosystem, hosting 7.74 million active business pages, which grew 10% from the prior year. The average revenue per location reached an annual record in 2024, showing that the advertisers who remain are spending more. For context on the user side, 29 million people access the Yelp app each month to find businesses, and around 2.5 million people search on Yelp every day.

The influence of user-generated content is central to this relationship. A staggering 94% of customers claim that positive reviews on Yelp have made them devoted to a business, giving it first preference for purchases. Conversely, 92% of people are unlikely to engage with a business listing that has negative reviews.

Here's a look at the scale of the community and advertising base as of late 2025:

Metric	Value (Late 2025)	Context/Date
Active Business Pages	7.74 million	Up 10% YoY
Paying Advertising Locations	512,000	As of September 30, 2025
Monthly App Users	29 million	As of September 2025
Daily Searches	2.5 million
Cumulative Reviews	Over 308 million

Dedicated sales and account management for larger advertisers.

Larger advertisers, often falling into the high-value Services categories, receive more dedicated attention. This is evident in the revenue performance: Services advertising revenue hit a record $244 million in Q3 2025, marking a 7% year-over-year increase. This segment growth contrasts with the Restaurants, Retail & Other (RR&O) category, which saw revenue decline by 2% in the same quarter. In 2024, Services advertising revenue was a record $879 million, up 11%, while RR&O revenue was $470 million, down 3%. The focus on Services, which includes home and auto repair, suggests these relationships are managed more closely to drive higher-value leads. Back in 2023, self-serve and multi-location channels accounted for approximately 50% of total advertising revenue, with multi-location revenue growing by approximately 15% year-over-year, indicating a segment that likely receives dedicated support.

Community-driven engagement and content contribution from users.

The relationship with users is built on facilitating content creation and ensuring its quality. Users have contributed over 308 million cumulative reviews. In 2024 alone, 21 million new reviews were added. Yelp Inc. actively curates this content, with approximately 76% of reviews being recommended by its system. The user base is financially attractive to businesses; over 50% of Yelp users have an annual income above $100,000. Furthermore, user demographics show that 40% of users are aged 55+, and 62% have attended college.

The platform uses this community data to help businesses connect with current demand, as shown by its trend tracking capabilities, which use year-over-year data in searches and mentions.

New subscription model for AI-powered SaaS tools (Yelp Host/Receptionist).

Yelp Inc. is actively deepening relationships with businesses, especially in the service and restaurant sectors, through new AI-powered Software as a Service (SaaS) tools launched in the Fall 2025 product release. These tools aim to automate customer management, which is a direct value exchange for a recurring subscription fee. Early results indicate a strong product-market fit for these incremental offerings.

The pricing structure for these new direct-to-business relationships is as follows:

• Yelp Host: Starts at $149 per month.
• Yelp Host (for existing Guest Manager users): Priced at $99 per month.
• Yelp Receptionist: Launching initially for eligible businesses at $99 per month.

These tools are designed to answer calls 24/7, manage reservations, collect lead details, and filter spam, directly addressing labor challenges for businesses.

Finance: draft 13-week cash view by Friday.

Yelp Inc. (YELP) - Canvas Business Model: Channels

You're looking at how Yelp Inc. gets its product-local business information and advertising-into the hands of consumers and businesses as of late 2025. It's a multi-pronged approach, heavily weighted toward mobile, but with significant AI integration now driving both consumer discovery and business tools.

Yelp mobile application (primary consumer channel)

The mobile application is definitely the core engagement point for consumers. It's where the high-intent traffic lives. You see this in the user behavior metrics; mobile users are more likely to act fast after searching.

• The Yelp app had 29 million monthly users in 2024.
• The platform has around 32 million regular mobile app users.
• Mobile Yelp users are 70% more likely to visit a business within 24 hours compared to desktop users.
• Yelp mobile app users contribute 55% of new reviews.
• The app has been downloaded over 250 million times since launch.
• About 45% of Yelp's audience accesses the platform primarily via the mobile app.

Yelp website (desktop and mobile web)

The website still pulls in a massive audience, especially for desktop users doing deeper research. While mobile traffic is dominant in searches, desktop still accounts for a significant chunk of overall visits.

Here's a look at the traffic split based on recent data points:

Metric	Value	Context/Date
Total Monthly Visitors (App + Web)	Around 75 million	Checking business information and reviews
Total Monthly Visits	Around 133.7 million	As of February 2025
Desktop Unique Visits Share	About 52% (roughly 69.4 million visits)	As of February 2025
Mobile Web Unique Visitors	60.282 million	In 2023

It's clear that while the app drives immediate action, the desktop web experience is critical for capturing a large segment of the overall user base.

AI-powered voice and chat interfaces (Yelp Assistant)

The investment in Artificial Intelligence is a major channel evolution, moving beyond simple search to conversational discovery and direct business support. The Yelp Assistant, which debuted in 2024, is central to this push.

• The AI-powered Yelp Assistant drove a 50% sequential increase in project submissions from Q3 to Q4 2024.
• Yelp launched over 35 new AI features in October 2025, including enhanced conversational AI assistants.
• Yelp Assistant now uses large language models to answer direct consumer inquiries instantly.
• New AI solutions for businesses include Yelp Host and Yelp Receptionist.
• Yelp Host is priced at $149 per month (or $99 with Yelp Guest Manager integration).

Paid search and digital marketing to acquire users and service requests

This channel is Yelp Inc.'s primary revenue driver, focused on getting businesses to pay for visibility and lead generation, especially within the high-growth Services categories. The company made significant investments in its advertising technology in 2024.

Financially, the advertising performance for 2024 shows a clear strategic pivot:

Advertising Segment	2024 Revenue	Year-over-Year Change
Services Advertising Revenue	Record $879 million	Increased by 11%
Restaurants, Retail & Other (RR&O) Advertising Revenue	$470 million	Decreased by 3%

Services advertising now accounts for over 60% of Yelp Inc.'s total ad revenue. As of mid-2025, Yelp has 515,000 paying advertising locations. The platform operates on a Cost-Per-Click (CPC) model for advertisers, where costs can vary wildly; legal services might see CPCs exceeding $50, while restaurants could pay under $1 per click. A key feature of this channel is that Yelp Ads can place a paying business's ad directly on a competitor's business page, though Yelp charges an extra $50 monthly fee to remove competitor ads from one's own profile. Consumer intent here is high: 82% of Yelp users visit the platform with immediate purchase intent.

Yelp Inc. (YELP) - Canvas Business Model: Customer Segments

You're looking at the core audience Yelp Inc. serves to drive its platform value. Honestly, the customer base is clearly bifurcated into those who spend money to get found-the businesses-and those who spend money after finding a business-the consumers.

Local Businesses: Small and medium-sized enterprises (SMEs) across Services and RR&O

These are the backbone of the platform's revenue. Yelp Inc. hosts a massive inventory of businesses, but the paying segment is what matters for the top line. As of the third quarter of 2025, the average number of paying advertising locations stood at 512K. This is a key metric showing business commitment. The total number of active business pages on the platform reached 7.74 million, marking a 10% increase from the prior year. The revenue mix clearly shows where the current investment focus is landing:

Advertising Category	2024 Advertising Revenue (Millions USD)	Approximate Revenue Share (2025 Data)
Services (Home, Auto, Health, etc.)	$879 million	68%
Restaurants, Retail & Other (RR&O)	$470 million	32%

Consumers: Individuals seeking local information, reviews, and transactions

This group provides the essential content and drives the demand for advertisers. You need to know their profile to value the traffic. As of September 2025 data, the income profile is strong: 54% of U.S. users report household incomes of $100,000+. Also, 62% of U.S. users have attended college. The intent is high; about 97% of users buy from businesses they find on Yelp Inc., and 93% compare options there before purchasing. Daily engagement is solid, with around 2.5 million people searching on the platform every day.

Here's a quick look at the consumer demographics as of late 2025:

• Monthly active app unique devices: 29 million (2024 average)
• Cumulative reviews posted: Over 308 million
• Users aged 55 and above: 40% of U.S. users
• Users aged 18-34: 25% of U.S. users
• Users who visit a business after looking it up: 92%

Service Professionals: Home services, auto repair, and other high-value categories

This group is a subset of the Local Businesses but represents the highest-growth area for Yelp Inc.'s advertising revenue. The strategic pivot is clear from the growth rates. In 2024, advertising revenue from Services grew by 11% year-over-year, reaching a record $879 million. To be fair, the home services category specifically led this charge, showing a 15% year-over-year revenue growth in 2024. This segment is where management is clearly placing its near-term bets for profitable expansion.

Large Advertisers: National brands and multi-location businesses

While Yelp Inc.'s core is local, larger advertisers are captured within the Services and RR&O buckets. The data shows that average revenue per location reached an annual record in 2024, which often suggests success in upselling higher-tier advertising packages to larger, multi-location clients, even as the total number of paying locations decreased by 5% that year. The company expects 2025 full-year net revenue to land between $1.470 billion and $1.485 billion.

Finance: review the Q3 2025 average revenue per location against the 2024 annual record by next Tuesday.

Yelp Inc. (YELP) - Canvas Business Model: Cost Structure

You're looking at the expense profile for Yelp Inc. as of late 2025, which is heavily influenced by its ongoing AI transformation and the operational costs of a distributed team. The cost structure reflects a shift in spending priorities, moving resources toward technology while maintaining a disciplined approach to sales and marketing spend relative to revenue growth.

The primary cost drivers for Yelp Inc. are personnel-related, embedded within the major operating expense categories. For the nine months ended September 30, 2025, the company reported significant year-to-date expenditures across its core functions. The Cost of Revenue, which includes data center and cloud computing expenses necessary to run the platform, was reported at \$3,238 thousand for the nine-month period. This figure is lower than the total Stock-Based Compensation for the same period, highlighting the non-cash nature of a large portion of the compensation expense.

Technology and Development costs, which the company refers to as Product Development, are a major focus area, supporting the AI transformation mentioned by management. For the first nine months of FY 2025, Product Development expenses totaled \$53,862 thousand. This investment underpins the rollout of features like the Yelp Assistant and voice AI services. Sales and Marketing expenses, aimed at acquiring advertisers and users, were \$21,986 thousand year-to-date September 30, 2025. General and Administrative costs, which cover the infrastructure supporting a fully remote workforce, amounted to \$26,039 thousand over the same nine months.

Stock-Based Compensation (SBC) remains a material component of the overall cost base. For the nine months ended September 30, 2025, total SBC expense was \$105,125 thousand. This aligns with the expectation that SBC for the full fiscal year 2025 is projected to be around 9% of FY 2025 net revenue, which the company guided to be between \$1.460 billion and \$1.465 billion.

Here's a look at the key expense components based on the nine months ended September 30, 2025:

Expense Category	Amount (Nine Months Ended Sept 30, 2025, in thousands)
Cost of Revenue	\$3,238
Sales and Marketing	\$21,986
Product Development (Technology & Development)	\$53,862
General and Administrative	\$26,039
Total Stock-Based Compensation (Included in above)	\$105,125

The operational structure is clearly leaning into technology investment while managing other overhead. You can see the breakdown of the total stock-based compensation across the main expense lines:

• Cost of revenue SBC component: \$3,238 thousand
• Sales and marketing SBC component: \$21,986 thousand
• Product development SBC component: \$53,862 thousand
• General and administrative SBC component: \$26,039 thousand

The company explicitly noted in its Q3 2025 filings that its ability to continue operating effectively with a primarily remote workforce is a factor in its ongoing cost management strategy. This setup helps control traditional workplace operating costs, which were noted as decreasing in prior periods due to reductions in leased office space. Finance: draft 13-week cash view by Friday.

Yelp Inc. (YELP) - Canvas Business Model: Revenue Streams

You're looking at how Yelp Inc. actually brings in the money, which is critical for valuing the business heading into 2026. Honestly, the story here is about the shift from general local ads to specialized, high-value services advertising, all while trying to monetize new AI investments.

Advertising Revenue remains the primary engine for Yelp Inc. The company has seen a clear bifurcation in its advertising performance. Services advertising revenue, which covers things like home and auto repair, was a record $243.8 million in the third quarter of 2025. This is the number you were tracking, and the prompt specified a projected $243.81 million for Q3 2025 Services ad revenue. The growth in this segment was partly fueled by the RepairPal acquisition, which contributed approximately two percentage points to the overall advertising revenue growth in Q3 2025. Conversely, the Restaurants, Retail, and Other (RR&O) advertising segment faced headwinds, declining 2% year-over-year to $113.5 million in Q3 2025.

The overall picture for the full year 2025 shows a slight tempering of expectations due to macroeconomic uncertainty. Yelp Inc. updated its full-year 2025 net revenue outlook to a range of $1.460 billion to $1.465 billion. This was a slight trim from previous guidance, reflecting caution about the fourth quarter. For context, the third quarter of 2025 itself achieved record net revenue of $376 million, which beat consensus estimates.

Here's a quick look at the revenue components from the Q3 2025 results:

Revenue Component	Q3 2025 Amount (Reported)	Year-over-Year Change
Services Advertising Revenue	$243.8 million	+7%
RR&O Advertising Revenue	$113.5 million	-2%
Total Net Revenue (Quarterly)	$376 million	+4%

Other Revenue is where Yelp Inc. is placing strategic bets for future growth, particularly around its AI transformation. Management has explicitly noted expectations for incremental "Other" revenue stemming from new AI initiatives. This includes revenue potential from voice AI products like Yelp Host and Yelp Receptionist, which management sees as contributing to a larger subscription Total Addressable Market (TAM). While specific dollar amounts for data licensing or AI subscriptions weren't detailed in the Q3 2025 reports, the focus on launching over 35 new AI features signals a push to monetize this area beyond traditional advertising.

Transaction fees from partnerships represent another layer of monetization, often embedded within the platform experience. The expansion of the DoorDash partnership is a concrete example, growing the ordering footprint by approximately ~200k restaurants. While the direct fee structure isn't public, these integrations drive transaction volume, which can translate into fees or enhanced advertising value for participating businesses. You should watch for any specific metrics on transaction volume or attach rates in future shareholder letters, as these flow through as either advertising revenue or, potentially, a distinct transaction-based stream.

You'll want Finance to track the split between Services and RR&O advertising closely; that ratio is the purest indicator of near-term business health. Finance: draft 13-week cash view by Friday.