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Yes, I am talking about Yelp. With more than 200Mn reviews and over 100 Mn visitors, Yelp has become a go-to place for reviews on small businesses. Not only the US, but Yelp has made its mark globally. On The Strategy Story, we always present unique business models that have changed consumer behavior. Yelp's business model has changed the way consumers connect with small businesses. What's more interesting is knowing how a review platform like Yelp makes money while helping small businesses grow exponentially. By 2005, Yelp revised its platform, soaring its popularity among users and investors. By 2010, Yelp had raised $125 Mn in multiple rounds with -5 Mn reviews and $30 Mn in revenue. Yelp claims to align its business model with advertisers' success by enabling small businesses to purchase and more fully manage their advertising on a self-serve basis. The strategy, in turn, helped Yelp increase retention and reduced its reliance on sales and customer support. In Q3 of 2021, Self-serve channel revenue increased by approximately 10% from the second quarter of 2021 and more than 45% YoY. What's the latest at Yelp? Founded in 2004 by former PayPal employees Russel Simmons and Jeremy Stoppelman, Yelp has become a leading local business review site in the United States. Initially, Yelp was conceived as an email-based referral network, but the idea could not attract investors and users beyond family and friends. Yelp observed that users were answering emails but were using the "Real Reviews" feature, which allowed them to write unsolicited reviews. Improved monetization strategy: Through product innovation, Yelp is Building increasingly differentiated category experiences for its services to explore new avenues of monetization. To better match consumers with the right Services businesses for their projects, Yelp rolled out custom search filters and launched a new ad format, Themed Ads. Yelp recently launched Yelp Project Cost Guides to help consumers make informed decisions when hiring a service professional. Revenue from the service stream has grown 10% YoY.

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