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Local discovery is inextricably tied to mobile, and the better Yelp does connecting people to the world around them, the better its business will do.
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Yelp Inc, the operator of consumer review website Yelp.com, reported a 66 percent rise in quarterly revenue due to higher revenue from local advertising on mobile devices as more customers use smartphones and tablets for information.
The company’s net loss narrowed to $2.6 million, or 4 cents per share, in the first quarter ended March 31 from $4.8 million, or 8 cents per share, a year earlier.
Revenue rose to $76.4 million from $46.1 million.
(Reporting by Lehar Maan in Bangalore; Editing by Kirti Pandey)
Photo Credit: Jeremy Stoppelman, co-founder and CEO of yelp Inc., San Francisco, California, testifies before a Senate Judiciary Subcommittee hearing called "The Power of Google: Serving Consumers or Threatening Competition?" on Capitol Hill, September 21, 2011. Larry Downing / Reuters