Yelp co founder Entrepreneurial inspiration from Xunyi process

 

in March this year, Yelp successfully listed on the NYSE

"the Wall Street journal" in the United States this week to review site Yelp founder Jeremy Pullman Stowe combined with · (Jeremy Stoppelman) of the interview. Stowe Pullman revealed the creation of Yelp, how to increase revenue, and how to help businesses will be poor into a better customer service.

founded Yelp, Tito Pullman or Harvard Business School students. He happened to catch the flu when he was looking for promising ideas. In the search process, he found the opportunity, then set up Yelp. MRL Vc firm provided him with $1 million in funding, he and former PayPal colleagues Las · Simmons (Russ Simmons) launched the site in October 2004.

so far, users have released more than 33 million comments on Yelp, doctors, restaurants, flower shops, car shops and other service companies. Last month, Yelp acquired a German counterpart Qype. In September this year, Yelp launched in Singapore, which is the company’s first foray into asia. Mobile Application Search accounted for 45% of the amount of Yelp search, but also to promote the growth of Yelp.

but with the expansion of the company, the cost is still higher than the advertising revenue. The site does not charge users. Yelp expects revenue to reach $136 million 900 thousand this year. In November 1st, Yelp released the results of the third quarter loss of $2 million, down. The first trading day after the earnings release, the company’s shares fell 15%. This is the largest decline since Yelp listed in March.

the following interview summary:

Where did

‘s idea of creating a Yelp site come from?

when I was in business school, I took part in the business incubator. When I was ill, I needed to see a doctor. At that time, there was very little information on the Internet, which disappointed me. We are aware of, look for a doctor or other service is the best way by word of mouth.

where did you get the funds from this site?

Marx · (Max Levchin, PayPal; Levchin founder). He (through MRL venture) gave us $1 million to start the fund. Simmons and I had determined this idea at a lunch in the afternoon to Levchin is introduced.

when did you feel it was really promising?

first time this idea was in February 2005, when we launched a new version of the site, allowing users to share their comments. That’s our number

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