Yelp Inc. (Yelp): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos diretórios de negócios digitais, o Yelp revolucionou como os consumidores descobrem e avaliam as empresas locais, transformando o cenário de críticas e recomendações on -line. Ao criar uma plataforma poderosa que conecta milhões de usuários a serviços locais por meio de insights de origem da multidão, o Yelp construiu um modelo de negócios sofisticado que aproveita a tecnologia, o envolvimento da comunidade e a publicidade direcionada para gerar receita substancial. Este mergulho profundo no modelo de negócios do Yelp Canvas divulgará as intrincadas estratégias por trás de seu sucesso, revelando como elas se tornaram uma ferramenta indispensável para consumidores e empresas na era digital.

Yelp Inc. (Yelp) - Modelo de Negócios: Parcerias -chave

Empresas e restaurantes locais que buscam visibilidade on -line

A partir do quarto trimestre de 2023, o Yelp tinha 5,8 milhões de páginas de negócios reivindicadas. A plataforma suporta 219.000 contas de publicidade comercial ativa. As parcerias comerciais locais da Yelp geram aproximadamente US $ 1,14 bilhão em receita anual de publicidade.

Categoria de parceria	Número de parceiros	Impacto anual da receita
Restaurantes locais	2,4 milhões	US $ 450 milhões
Negócios de varejo	1,6 milhão	US $ 350 milhões
Provedores de serviços	1,8 milhão	US $ 340 milhões

Plataformas de publicidade

O Yelp mantém parcerias estratégicas com as principais plataformas de publicidade digital.

• Integração do Google ADS: gera aproximadamente US $ 180 milhões em receita de publicidade entre plataformas
• Colaboração de publicidade no Facebook: estimado US $ 120 milhões em oportunidades de publicidade conjunta
• Parceria de publicidade da Microsoft: gera cerca de US $ 50 milhões anualmente

Revise os colaboradores de conteúdo

O modelo de conteúdo gerado pelo usuário da Yelp envolve 244 milhões de análises exclusivas de usuários a partir de 2023. A plataforma suporta aproximadamente 69 milhões de usuários ativos mensais que contribuem com conteúdo.

Provedores de tecnologia e serviços em nuvem

Provedor	Tipo de serviço	Investimento anual
Amazon Web Services (AWS)	Infraestrutura em nuvem	US $ 45 milhões
Plataforma do Google Cloud	Armazenamento de dados	US $ 22 milhões
Microsoft Azure	Sistemas de backup	US $ 18 milhões

Analytics de dados e empresas de aprendizado de máquina

A Yelp investe US $ 35 milhões anualmente em análises avançadas de dados e parcerias de aprendizado de máquina para aprimorar algoritmos de recomendação e experiência do usuário.

• Colaboração IBM Watson AI: investimento de US $ 12 milhões
• Parceria de aprendizado de máquina DataRobot: contrato anual de US $ 8 milhões
• Palantir Technologies Data Analytics Integration: $ 15 milhões de parceria

Yelp Inc. (Yelp) - Modelo de Negócios: Atividades -chave

Desenvolvimento e manutenção da plataforma de revisão de usuário

O Yelp investiu US $ 208,9 milhões em pesquisa e desenvolvimento em 2022, com foco no aprimoramento e manutenção da plataforma.

Métrica da plataforma	2022 dados
Usuários totais da plataforma	35,4 milhões
Usuários ativos mensais	26,4 milhões
Listagens de negócios totais	5,2 milhões

Listagem de negócios e verificação local

O Yelp emprega uma equipe dedicada para verificação e gerenciamento de listagem de negócios.

• O processo de verificação inclui verificações manuais e automatizadas
• Equipe dedicada para a integração de negócios
• Manutenção de precisão de dados contínuos

Vendas de publicidade digital e gerenciamento

A receita de publicidade para o Yelp em 2022 foi de US $ 1,04 bilhão, representando uma parcela significativa de seu modelo de negócios.

Segmento de publicidade	Receita 2022
Receita de publicidade local	US $ 727,4 milhões
Receita nacional de publicidade	US $ 312,6 milhões

Experiência do usuário e otimização de interface

O Yelp investe continuamente em melhorias na interface do usuário e no desenvolvimento da plataforma móvel.

• Downloads de aplicativos móveis: 41,2 milhões em 2022
• Tráfego móvel: 78% do tráfego total da plataforma
• Teste A/B contínuo para melhorias de interface

Melhoramento do algoritmo de coleta e recomendação de dados

O Yelp utiliza técnicas avançadas de aprendizado de máquina para algoritmos de recomendação.

Métrica de coleta de dados	2022 Estatísticas
Total de revisões	250 milhões
Crescimento anual da revisão	12.3%
Investimento de aprendizado de máquina	US $ 42,5 milhões

Yelp Inc. (Yelp) - Modelo de negócios: Recursos -chave

Grande banco de dados de revisão gerado pelo usuário

A partir do quarto trimestre 2023, o Yelp relatou:

Métrica	Valor
Número total de revisões	244 milhões
Empresas listadas	5,2 milhões
Usuários ativos mensais	33,4 milhões

Recomendação avançada e algoritmos de pesquisa

Os recursos algorítmicos do Yelp incluem:

• Motor de recomendação movido a aprendizado de máquina
• Processamento de linguagem natural para análise de revisão
• Sistema de classificação de pesquisa personalizada

Forte reconhecimento de marca

Métrica da marca	Valor
Valor da marca	US $ 1,2 bilhão
Reconhecimento de mercado	82% na descoberta de negócios local

Infraestrutura de plataforma móvel e web

Estatísticas de implantação da plataforma:

• Downloads de aplicativos móveis: 46,3 milhões
• Plataforma da web exclusiva visitantes mensais: 178 milhões
• Porcentagem de tráfego móvel: 67%

Comunidade de usuários e ferramentas de engajamento

Métrica comunitária	Valor
Colaboradores ativos	1,9 milhão
Revisões médias por empresa	37 revisões
Taxa de envolvimento do usuário	22.6%

Yelp Inc. (Yelp) - Modelo de Negócios: Proposições de Valor

Informações abrangentes para negócios locais e revisões

A partir do quarto trimestre 2023, o Yelp apresentava 5,5 milhões de listagens de negócios em várias categorias. A plataforma continha 244 milhões de revisões cumulativas, com uma média de 2,6 revisões por empresa.

Métrica	Quantidade
Listagens de negócios totais	5,500,000
Revisões cumulativas	244,000,000
Revisões médias por empresa	2.6

Plataforma amigável para serviços de descoberta e classificação

O aplicativo móvel da Yelp teve 34,4 milhões de usuários ativos mensais em 2023, com uma classificação de 4,7/5 na iOS App Store e 4.3/5 na Google Play Store.

• Downloads de aplicativos móveis: 87,3 milhões
• Duração média da sessão do usuário: 6,2 minutos
• Taxa de envolvimento do usuário: 62%

Mecanismo de feedback do consumidor transparente

O Yelp processou 248 milhões de visitantes mensais únicos em 2023, com uma taxa de verificação de revisão de 92%.

Métrica de feedback	Valor
Visitantes únicos mensais	248,000,000
Taxa de verificação de revisão	92%
Taxa de resposta comercial	67%

Acesso gratuito a listagens de negócios e revisões

O Yelp ofereceu 4,2 milhões de listagens de negócios gratuitas em 2023, representando 76% do total de listagens de plataformas.

• Listagens de negócios gratuitas: 4.200.000
• Porcentagem de listagens gratuitas: 76%
• Crescimento anual da listagem gratuita: 14%

Recomendações personalizadas com base nas preferências do usuário

O algoritmo de recomendação do Yelp processou 3,8 milhões de recomendações personalizadas diariamente em 2023, com uma taxa de interação de 43% do usuário.

Métrica de recomendação	Valor
Recomendações personalizadas diárias	3,800,000
Taxa de interação do usuário	43%
Precisão da recomendação	71%

Yelp Inc. (Yelp) - Modelo de Negócios: Relacionamentos do Cliente

Plataforma online de autoatendimento

A partir do quarto trimestre 2023, a plataforma on -line do Yelp suporta 244 milhões de usuários de dispositivos exclusivos mensalmente. A plataforma permite que os usuários sejam:

• Criar contas pessoais
• Escreva e publica críticas
• Negócios de pesquisa
• Acesse informações detalhadas comerciais

Sistema de revisão e classificação orientado para a comunidade

Métrica	2023 dados
Total de comentários de usuários	267 milhões
Usuários ativos mensais médios	33 milhões
Listagens de negócios	6,5 milhões

Canais de suporte ao cliente

Os canais de suporte incluem:

• Suporte por e -mail
• Centro de ajuda online
• Fóruns da comunidade
• Suporte telefônico para contas comerciais

Engajamento de conteúdo gerado pelo usuário

Em 2023, o Yelp experimentou:

• 5,2 milhões de fotos submitidas pelo usuário
• 3,8 milhões de dicas de negócios geradas pelo usuário
• 42% de taxa de engajamento de revisão de usuário

Recursos de recomendação personalizados

Recurso de recomendação	Estatísticas de uso
Sugestões de negócios personalizadas	67% dos usuários ativos
Recomendações baseadas em localização	54% de adoção do usuário
Correspondência baseada em juros	Interação do usuário de 48%

Yelp Inc. (Yelp) - Modelo de Negócios: Canais

Aplicativo móvel (iOS e Android)

A partir do quarto trimestre 2023, o aplicativo móvel da Yelp possui 32,8 milhões de usuários ativos. O aplicativo está disponível nas plataformas iOS e Android com classificação 4.7/5 na Apple App Store e 4,5/5 na Google Play Store.

Plataforma	Downloads totais	Usuários ativos mensais
iOS	18,6 milhões	15,4 milhões
Android	22,3 milhões	17,4 milhões

Web Platform (desktop e web móvel)

A plataforma da Web da Yelp gera 178 milhões de visitantes exclusivos mensais nas interfaces da Web para desktop e móveis.

Plataforma da Web	Visitantes únicos mensais
Web de desktop	92,5 milhões
Web móvel	85,5 milhões

Marketing por e -mail

O Yelp mantém uma base de assinantes de e -mail de 44,2 milhões de contatos em email ativos com uma taxa de abertura média de 22,6%.

Integração de mídia social

• Facebook: 3,1 milhões de seguidores
• Twitter: 1,8 milhão de seguidores
• Instagram: 425.000 seguidores
• LinkedIn: 290.000 seguidores

Integrações de aplicativos e sites de terceiros

O Yelp possui parcerias de integração com 47 plataformas diferentes de terceiros, incluindo o Google Maps, Apple Maps e TripAdvisor.

Parceiro de integração	Tráfego de referência mensal
Google Maps	12,6 milhões
Mapas de maçã	8,3 milhões
TripAdvisor	4,7 milhões

Yelp Inc. (Yelp) - Modelo de negócios: segmentos de clientes

Consumidores locais que procuram recomendações de negócios

A partir do quarto trimestre 2023, o Yelp relatou 35,4 milhões de usuários de dispositivos exclusivos ativos em sua plataforma. Visitantes exclusivos mensais atingiram aproximadamente 174 milhões em plataformas da Web e móveis.

Usuário demográfico	Percentagem
Idade 18-34	42%
Idade 35-54	38%
Idade 55 ou mais	20%

Pequenas e médias empresas

Em 2023, a plataforma da Yelp hospedou mais de 6,1 milhões de contas comerciais ativas. Aproximadamente 224.000 empresas estavam pagando clientes de publicidade.

• Gastes médios mensais de publicidade por empresa: US $ 379
• Receita total de publicidade em 2023: US $ 1,12 bilhão

Profissionais do setor de restaurantes e serviços

A plataforma da Yelp contou com 2,3 milhões de listagens de negócios relacionadas a restaurantes e serviços em 2023.

Categoria de negócios	Número de listagens
Restaurantes	1,1 milhão
Serviços de alimentação	520,000
Serviços profissionais	680,000

Viajantes e turistas

Em 2023, as pesquisas relacionadas a viagens no Yelp aumentaram 35% em comparação com o ano anterior.

• Revisões de acomodações de hotel e viagens: 480.000
• Listagens de atração turísticas: 210.000

Urban e tecnologia experiente

A base de usuários do Yelp concentrou -se em áreas metropolitanas, com 68% dos usuários localizados nos centros urbanos.

Principais áreas metropolitanas	Porcentagem de usuários
Nova Iorque	12%
São Francisco	9%
Los Angeles	8%

Yelp Inc. (Yelp) - Modelo de negócios: estrutura de custos

Infraestrutura e manutenção de tecnologia

Em 2023, o Yelp registrou despesas totais de tecnologia e desenvolvimento de US $ 179,4 milhões, representando 18,7% da receita total. Os custos de infraestrutura da empresa incluem:

Categoria de custo	Valor (2023)
Despesas de hospedagem em nuvem	US $ 42,3 milhões
Manutenção do servidor	US $ 23,7 milhões
Infraestrutura de rede	US $ 18,9 milhões

Pesquisa e desenvolvimento

O Yelp investiu US $ 179,4 milhões em P&D durante 2023, com foco em:

• Algoritmos de aprendizado de máquina
• Melhorias na experiência do usuário
• Desenvolvimento da plataforma móvel
• Sistemas de recomendação orientados a IA

Despesas de vendas e marketing

Em 2023, as despesas de vendas e marketing da Yelp totalizaram US $ 337,5 milhões, o que foi 35,2% da receita total.

Canal de marketing	Despesas (2023)
Publicidade digital	US $ 156,2 milhões
Operações da equipe de vendas	US $ 98,3 milhões
Promoção da marca	US $ 83,0 milhões

Moderação de conteúdo e verificação de revisão

O Yelp alocou US $ 45,6 milhões em 2023 para moderação de conteúdo e processos de verificação de revisão.

• Sistemas de filtragem de conteúdo automatizado
• Equipes de revisão manual
• Tecnologias de detecção de fraude

Operações de suporte ao cliente

As despesas de suporte ao cliente em 2023 foram de US $ 62,7 milhões, representando 6,5% da receita total.

Canal de suporte	Custo (2023)
Suporte telefônico	US $ 22,4 milhões
Suporte por e -mail	US $ 18,3 milhões
Suporte de bate -papo	US $ 22,0 milhões

Yelp Inc. (Yelp) - Modelo de negócios: fluxos de receita

Publicidade comercial local

No quarto trimestre de 2023, o Yelp registrou receita local de publicidade de US $ 279,1 milhões, representando 86,8% da receita total da empresa.

Segmento de publicidade	Receita (Q4 2023)	Porcentagem da receita total
Publicidade comercial local	US $ 279,1 milhões	86.8%

Listagens patrocinadas e perfis aprimorados

O Yelp oferece listagens patrocinadas com preços que variam de US $ 300 a US $ 2.000 por mês, dependendo do tamanho e da localização dos negócios.

• Os perfis de negócios aprimorados incluem recursos adicionais, como galerias de fotos
• Posicionamento premium nos resultados de pesquisa
• Análise avançada para empresários

Publicidade digital direcionada

A receita de publicidade digital para o Yelp em 2023 atingiu aproximadamente US $ 42,5 milhões.

Tipo de publicidade	Taxa média de CPM	Receita anual estimada
Exibir publicidade	$5.20	US $ 25,3 milhões
Anúncios direcionados	$7.50	US $ 17,2 milhões

Assinaturas de contas de negócios premium

A plataforma de anúncios Yelp gerou US $ 89,4 milhões em receita baseada em assinatura em 2023.

• Conta de negócios básica do Yelp: grátis
• Yelp Business Pro: US $ 199/mês
• Yelp Business Elite: US $ 499/mês

Licenciamento de dados e acesso da API

A receita de licenciamento de API e dados totalizou US $ 12,6 milhões em 2023.

Categoria de licenciamento	Receita	Clientes -chave
ACI Acesso	US $ 8,3 milhões	Empresas de tecnologia, serviços de mapeamento
Licenciamento de dados	US $ 4,3 milhões	Empresas de pesquisa, analistas de mercado

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.