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Yelp Craters as Much as 32% as Advertisers Abandon the Site

posted by martyb on Saturday November 10 2018, @04:23AM   Printer-friendly
from the "Yelp"-definition:-n.-A-cry-of-pain dept.

Phoenix666 writes:

CNBC:

Yelp cratered as much as 32 percent Friday, a day after releasing third-quarter earnings that revealed advertisers are abandoning the site and denting revenue.

Shares fell as low as $29.33, a new 52-week low, before paring some losses to close nearly 27 percent down at $31.92. The plunge makes for the stock's worst day of trading since going public in 2012.

Yelp added zero net new advertising customers during the quarter. Yelp earlier this year switched from long-term advertising contracts in local markets to more flexible, nonterm contracts. That change resulted in significant contract cancellations.

The change in contract terms was cited as the reason for the decline.

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  • (Score: 5, Insightful) by Appalbarry on Saturday November 10 2018, @07:04PM

    by Appalbarry (66) on Saturday November 10 2018, @07:04PM (#760456) Journal

    Surely the reason why Yelp is suffering is because of their reputation as being horribly untrustworthy. Well. that and a user interface that is truly abhorrent.

    I have never found Yelp useful as either a shopper or a victim vendor. The very first good review that our business received was spam-binned by Yelp for no apparent reason. That was followed by years of unstoppable and unsolicited sales calls.

    When shopping I find over and over that Yelp is either full of remarkably dubious glowing reviews, ratings for businesses long since gone broke, or has such a confusing presentation that I wind up clicking though to things that have no relevance to me.

    The frustrating thing is that there really is a need for a solid, honest, reliable rating system for local businesses. As it stands now your only option is a Google search which might possibly turn up a useful result, but usually just hands you useless dreck.

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