Tag: Yelp

Yelp May Appear Cheap On The Face Of It But Underlying Issues Are Here To Stay (NYSE:YELP)

Note: I have written about Yelp previously, investors should see this as an update to my earlier article on the company

Since my last article on Yelp (YELP), the company has struggled to kick on share price wise. Now, down 12% since then. Yelp’s reliance on small businesses has hit the company hard over the last few months. While the greater transition to online booking will benefit the company, the ties to the restaurant and retail sectors are simply too strong, and in the current environment, that is not a great position to be in. While some may argue that Yelp is ‘cheap’ at current levels, investors must look forward and wonder where the future growth catalysts will actually come from.

Small businesses still struggling

Yelp’s revenues remain small-business focused, as they look to sell advertising space to local businesses so they can drive greater traction into stores. While previously

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More than 163,000 businesses on Yelp have closed since March

More than 163,000 U.S. businesses listed on Yelp have closed since March, when the coronavirus brought the U.S. economy to its knees, according to the online review company.

The troubling findings illustrate the ongoing economic pain inflicted by COVID-19, which has killed more than 196,000 Americans and triggered a historic wave of layoffs. 

In a new report, Yelp said a total 163,735 businesses have closed at some point between March 1 and August 31. Of those businesses, 60% indicated they have shut down permanently. Temporary and permanent business closures listed on the site have shot up 23% since early July, Yelp said.

While 11 million workers have been rehired as states reopened their economies, there remain 11.5 million fewer jobs now than before the pandemic. Roughly 500 businesses have filed for bankruptcy since March, including large enterprises such as retailer J.C. Penney, gym chain 24 Hour Fitness and Hertz,

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Business Review Site Yelp Launches ‘Latinx-Owned’ Tag | Investing News

(Reuters) – Crowdsourced business review website Yelp

on Tuesday launched a tag for businesses to mark themselves as “Latinx-owned” in a move designed to support Latino businesses hit hard by the pandemic, the company said.

People using the Yelp site will be able to search for businesses via the tag to channel spending towards the Latino community.

“Latinx” is a gender-neutral term to describe people of Latino or Hispanic origin.

Yelp introduced a similar feature for Black-owned businesses in June after the death of George Floyd prompted a upsurge of consumer interest in supporting the Black community.

“During COVID-19, Latino business owners were disproportionately left out of the economic stimulus effort, and have been struggling,” Henry Muñoz III, head of community organisation Momento Latino, which is partnering with Yelp to introduce the tag, said.

Latinos opened businesses at a faster rate than any other ethnic group in the past decade,

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