In its second-largest acquisition, Amazon buys the company for $970 million.
This announcement is a landmark moment for the expansion of Yelp's European operations as it moves to monetise its services in Europe for the first time.
LONDON, July 10, 2012 -- Yelp (NYSE: YELP), the company that connects consumers with great local businesses, today announced the expansion of their UK presence with the opening of their new sales office in London. Yelp has created 100 new jobs in London to help build their new sales and marketing teams. This announcement is a landmark moment for the expansion of Yelp's European operations as it moves to monetise its services in Europe for the first time.
The Duke ofYorktoday met with Yelp executives at their London office as the announcement was made. "We are pleased that Yelp has decided to invest further in the UK and use it as the gateway to Europe as it continues to deliver on its impressive international expansion plans," said The Duke of York. "The UK continues to prove an attractive investment proposition for innovative companies, leading tojob creationand skills development that will ensure the UK remains an engine of growth." "The UK is filled with entrepreneurial localbusiness ownerslooking for targeted ways to reach consumers; Yelp brings those businesses and consumers together in a unique way," said Jed Nachman, Senior Vice President of Revenue at Yelp. "In today's economic climate, providing consumers with relevant information that helps them make educated decisions on where to spend their hard-earned money is just as important as our role in highlighting and supporting great local businesses. We are excited about this next chapter in Yelp's evolution, especially as the UK becomes an important piece of our European expansion plans." To oversee the new sales operations in the UK, Mr. Nachmanhas relocated to London from Yelp headquarters inSan Francisco.He joined Yelp in 2007 to lead the company's sales team and has overseen rapidly growing sales, client services, and revenue operations groups across three offices in the US. Mr. Nachman will apply that wealth of experience to establish and drive further growth throughout the UK. An array of unique advertising products are now available to local businesses and large brands looking to connect directly with Yelp's influential audience of approximately 71 million* unique monthly visitors. Yelp is in the process of recruiting its sales force that will be based in London and anyone interested in applying for the positions can find more information at www.yelp.co.uk/careers. Check out Yelp.co.uk or visit the Yelp Official Blog (http://officialblog.yelp.com) to learn more about the company's international expansion efforts and iPhone and Android mobile apps. * Source: Google Analytics, monthly average basis during Q1 2012
About Yelp: Yelp Inc. (http://www.yelp.co.uk) connects people with great local businesses. Yelp was founded in San Francisco in July 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 and Finland. Yelp had a monthly average of approximately 71 million unique visitors in Q1 2012.** By the end of the same quarter, Yelpers had written approximately 27 million rich, local reviews, making Yelp the leading local guide for real word-of-mouth on everything from boutiques and mechanics to restaurants and dentists. Yelp's mobile applications were used on approximately 6.3 million unique mobile devices on a monthly average basis during Q1 2012. For more information, please visit http://www.yelp.co.uk or send an email to email@example.com. ** Source: Google Analytics