Yelp is gunning for its IPO that’s slated to happen very soon and naturally, it needs to impress investors into forking over their cash.
The company decided recently to give investors a sneak peek into Yelp’s operations and revealed some rather interesting numbers. In a prospectus filed with the SEC, Yelp revealed that in the month of September (2011), reviews on the site increased 66% on the figure last year to a staggering 22 million reviews. These growing reviews are starting to contribute heavily to Yelp’s bottom-line and the company is reporting monthly uniques of over 61 million.Revenues have also been strong, with the company reporting revenues of $58 million for the first 8 months of 2011. This figure represents a growth of 80% on the revenue figures reported for 2010. Investors will be very pleased to see this, even if the company is yet to become profitable. The one sobering point about the earnings figures released is that Yelp isn’t too far in the red, having reported only a $7.6 million loss for the revenue reporting period.
All in all, investors should feel upbeat about the growth prospects of Yelp. The popular reviews website has a strong presence in the search engines and its social media connectivity is also top notch.
Do you use Yelp to find restaurants, hotels and bars etc.? Share your experience in the comments below.
Source: http://www.sitetrail.com/2011/11/22/yelp-gets-61-million-uniques-and-makes-58-million-in-revenue/