Yelp

Technology consumer software curated web platform search

Yelp is an American company that operates an “online urban guide” and business review site. It uses automated software to recommend the most helpful and reliable reviews for the Yelp community and to help them connect with great local businesses. The company's Yelp website began as an email service for exchanging local business recommendations and later they introduced social networking features, discounts, and mobile applications. It has over 53 million local reviews written by Yelpers and an average of approximately 120 million monthly unique visitors. Headquartered in San Francisco, Yelp was founded by Jeremy Stoppelman and Russel Simmons in 2004. Since then, Yelp communities have taken root in major metros across the US, Canada, UK, Ireland, France, Germany, Austria, The Netherlands, Spain, Italy, Switzerland, Belgium, Australia, Sweden, Denmark, Norway, Finland, Singapore, Poland, and Turkey.

Company Growth (employees)

Type

Public

San Francisco, US

Founded

2004

Size (employees)

4,256 (est)+3%

Website

yelp.com

Yelp was founded in 2004 and is headquartered in San Francisco, US

Key People at Yelp

Jeremy Stoppelman

Co-founder and CEO

Lanny Baker

CFO

Jed Nachman

COO

Laurence Wilson

SVP User Operations & General Counsel

Yelp Office Locations

Yelp has offices in San Francisco, Phoenix, New York, Chicago and in 56 other locations

San Francisco, US (HQ)

706 Mission Street

Yelp Data and Metrics

Yelp Financial Metrics

Yelp's revenue was reported to be $713.1 m in FY, 2016 which is a 30% increase from the previous period.

Summary

Numbers are in $, USD

Yelp's current market capitalization is $2.4 b.

Source: SEC Filings, SEC Filings

Income Statement

Numbers are in $, USD

Numbers are in $, USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	233 m	377.5 m	549.7 m	713.1 m
Revenue growth, %		62%	46%	30%
Cost of goods sold	16.6 m	24.4 m	51 m	60.4 m
Gross profit	216.4 m	353.2 m	498.7 m	652.7 m
Gross profit Margin, %	93%	94%	91%	92%
Sales and marketing expense	132 m	201.1 m	301.8 m	382.9 m
R&D expense	38.2 m	65.2 m	107.8 m	138.5 m
General and administrative expense	42.9 m	58.3 m	80.9 m	97.5 m
Operating expense total	241.8 m	366.5 m	571 m	718 m
Depreciation and amortization	11.5 m	17.6 m	29.6 m	35.3 m
EBITDA	29.4 m	70.9 m	69.1 m	120.1 m
EBITDA margin, %	13%	19%	13%	17%
EBIT	(8.8 m)	11.1 m	(21.3 m)	(5 m)
EBIT margin, %	(4%)	3%	(4%)	(1%)
Interest income	(407 k)	221 k	386 k	1.7 m
Pre tax profit	(9.2 m)	11.3 m	(20.9 m)	(3.3 m)
Income tax expense	(838 k)	25.2 m	(12 m)	(1.4 m)
Net Income	(10.1 m)	36.5 m	(32.9 b)	(4.7 m)

Source: SEC Filings, SEC Filings

Balance Sheet

Numbers are in $, USD

Numbers are in $, USD	Y, 2010	Y, 2011	Y, 2012	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Cash	27.1 m	21.8 m	95.1 m	389.8 m	247.3 m	171.6 m	272.2 m
Accounts Receivable				21.3 m	35.6 m	52.8 m	68.7 m
Inventories				5.8 m	19.4 m	19.7 m	12.9 m
Current Assets				416.8 m	420.8 m	443.3 m	561.2 m
PP&E				30.7 m	62.8 m	80.5 m	92.4 m
Goodwill				59.7 m	67.3 m	172.2 m	170.7 m
Total Assets				516 m	629.7 m	755.4 m	885.2 m
Accounts Payable				3.4 m	1.4 m	3.4 m	2 m
Current Liabilities				25 m	34 m	49.8 m	60.4 m
Additional Paid-in Capital				553.8 m	627.7 m	774 m	893 m
Retained Earnings				(70.5 m)	(34 m)	(66.9 m)	(70.2 m)
Total Equity				486.5 m	588.2 m	693.6 m	807.2 m
Financial Leverage				1.1 x	1.1 x	1.1 x	1.1 x

Cash Flow

Numbers are in $, USD

Numbers are in $, USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	(10.1 m)	36.5 m	(32.9 b)	(4.7 m)
Depreciation and Amortization	11.5 m	17.6 m	29.6 b	35.3 m
Accounts Receivable	(12.8 m)	(21.3 m)	(25.3 b)	(31.6 m)
Inventories			(207.9 m)	(67.5 m)
Accounts Payable		(259 k)	137.7 m	46.9 m
Cash From Operating Activities	21.4 m	57.9 m	57.4 m	126.9 m
Purchases of PP&E	(16.2 m)	(29.1 m)	(31.1 b)
Cash From Investing Activities		(228.7 m)	(158.7 b)	(55.6 m)
Cash From Financing Activities	291.7 m	29.5 m	26.4 b	29.5 m
Income Taxes Paid	291 k	2 m	352 m	813 k

Ratios

Numbers are in $, USD	Y, 2016
Revenue/Employee	171.7 k
Financial Leverage	1.1 x

Yelp Operating Metrics

Yelp's Accounts was reported to be 139 k in Q1, 2017. Yelp's Unique Visitors was reported to be 157.7 m in Q1, 2017

	Q1, 2014	Q2, 2014	Q3, 2014	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017
Unique Visitors	193.65 m	205.65 m	86.86 m	135.4 m	158.51 m	161.99 k	168.14 m	140.47 m	145.98 m	142.73 m	149.2 m	138.82 m	157.67 m
Accounts	74 k	80 k	86 k	84 k	90 k	97 k	104 k	111 k	119 k	128 k	135 k	137.8 k	139 k
Reviews	56.91 m	61.34 m	66.59 m	71.23 m	72 m	83.1 m	89.64 m	95.21 m	101.56 m	100.9 m	107.4 m	121 m	11.85 m
App Devices				14.54 m				20.01 m	21.19 m	23.01 m	24.9 m	24.07 m	25.83 m

Source: SEC filings

Yelp Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
NoWait	March 02, 2017	$40 m

Yelp Market Value History

Yelp Revenue Breakdown

Yelp's employees are reported to be approximately 47% female and 53% male.

Yelp Median Salaries

Source: 291 public H-1B filings from Yelp

Market Position of Yelp

Competitors

Meituan-Dianping

Technology - Private

Kofax

Technology - Subsidiary

Revenue (FY, 2016)	713.1 m
Revenue growth (FY, 2015 - FY, 2016), %	30%
Gross profit (FY, 2016)	652.7 m
Gross profit margin (FY, 2016), %	92%
Net income (FY, 2016)	(4.7 m)
EBITDA (FY, 2016)	120.1 m
EBIT (FY, 2016)	(5 m)
Market capitalization (22-Jun-2017)	2.4 b
Closing share price (22-Jun-2017)	29.4
Cash (31-Dec-2016)	272.2 m

Yelp

Company Growth (employees)

Key People at Yelp

Jeremy Stoppelman

Lanny Baker

Jed Nachman

Laurence Wilson

Yelp Office Locations

Yelp Data and Metrics

Yelp Financial Metrics

Summary

Revenue (FY, 2016)

Revenue growth (FY, 2015 - FY, 2016), %

Gross profit (FY, 2016)

Gross profit margin (FY, 2016), %

Net income (FY, 2016)

EBITDA (FY, 2016)

EBIT (FY, 2016)

Market capitalization (22-Jun-2017)

Closing share price (22-Jun-2017)

Cash (31-Dec-2016)

Income Statement

Revenue

Revenue growth, %

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

R&D expense

General and administrative expense

Operating expense total

Depreciation and amortization

EBITDA

EBITDA margin, %

EBIT

EBIT margin, %

Interest income

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Inventories

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash Flow

Net Income

Depreciation and Amortization

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities

Purchases of PP&E

Cash From Investing Activities

Cash From Financing Activities

Income Taxes Paid

Ratios

Revenue/Employee

Financial Leverage

Yelp Operating Metrics

Unique Visitors

Accounts

Reviews

App Devices

Yelp Acquisitions / Subsidiaries

Yelp Market Value History

Yelp Revenue Breakdown

Yelp Median Salaries

Market Position of Yelp

Competitors

Yelp Online and Social Media Presence