What is Yelp?
Founded in San Francisco in July 2004, Yelp Inc. provides a comprehensive online platform designed to facilitate discovery, connection, and transaction between consumers and local businesses of all sizes. The service offers extensive local business information, user-submitted photos, and review content, empowering individuals to make informed decisions about local establishments. Yelp's business model centers on leveraging this rich user-generated content to create a vibrant marketplace for local services and commerce.
How much funding has Yelp raised?
Yelp has raised a total of $458.1M across 7 funding rounds:
Series A
$1M
Series B
$4.9M
Series C
$10M
Series D
$14.9M
Series E
$25M
Stock Offering
$113.4M
Stock Offering
$288.9M
Series A (2004): $1M with participation from Russel Simmons and Jeremy Stoppelman
Series B (2005): $4.9M led by Bessemer Venture Partners and MRL Web
Series C (2006): $10M supported by Benchmark Capital Partners, Bessemer Venture Partners, and MRL Web
Series D (2008): $14.9M featuring DAG Ventures, Bessemer Venture Partners, MRL Web, and Benchmark Capital Partners
Series E (2010): $25M backed by Elevation Partners
Stock Issuance/Offering (2012): $113.4M with participation from Undisclosed
Stock Issuance/Offering (2013): $288.9M led by Undisclosed
Key Investors in Yelp
DAG Ventures
DAG Ventures is a mid-stage venture capital partnership that focuses on supporting visionary entrepreneurs and the elite early-stage VCs who back them. The firm emphasizes a service-oriented mindset, aiming for speed, consistency, and simplicity in its operations. Their investment portfolio includes companies like Upwork, Eventbrite, and Wix, which cater to various sectors such as online employment, event management, and web creation. DAG Ventures is dedicated to fostering innovation and growth in the technology industry.
Elevation Partners
Elevation Partners was a pioneering private equity investment fund that focused on the intersection of technology and media, managing a total of $1.9 billion in investments. It made significant early investments in companies such as Facebook and Yelp, and its activities concluded successfully in 2015 with the sale of its final portfolio company. Following this, the Elevation team members initiated other investment vehicles like Elevation Investors II and NextEquity, continuing to focus on growth investments within technology and digital media sectors. The firm has a legacy of fostering innovative companies and remains influential through its co-founders and associated partners.
Benchmark Capital Partners
Benchmark Capital Partners is a prominent venture capital firm known for its early-stage investments in technology companies. The firm has a track record of backing category-defining companies and is recognized for its hands-on approach to supporting portfolio companies. Benchmark's investments span various sectors within the technology landscape, including software, internet services, and consumer platforms.
What's next for Yelp?
With a history of substantial capital raises, including major enterprise-level funding rounds and strategic investments, Yelp is positioned for continued development and market leadership. The recent strategic investment, alongside the overall $458.1M in capital, suggests a focus on scaling operations, enhancing its platform's features, and potentially exploring new market opportunities. This financial backing will likely support initiatives aimed at deepening user engagement and expanding the network of businesses listed on its platform, reinforcing its role as a key player in the local discovery ecosystem.
See full Yelp company page
