We continue to invest in new products and tools for business owners. We are pleased to see KinderCare return to Yelp and this experience underscores the importance of communicating ROI to business owners. Based on a decline in the quality of their lead shortly thereafter, so they recently resumed advertising on Yelp to tap into our purchase-oriented consumer traffic. For example, KinderCare Education, a childcare provider with over 1,000 locations across the country, have been a Yelp advertiser for 2 years but stopped in 2013.
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Migrating these offline marketing budgets online continues to represent a huge market opportunity for us.Īs business owners evaluate their marketing options, many are coming to appreciate the value of Yelp advertising.
Even though according to a 2015 BrightLocal study, more than 90% of consumers read online reviews when looking for a great local business. BIA/Kelsey projects that the Yellow Pages industry will generate roughly $7 billion in 2016. The vast majority of local business owners continue to advertise in traditional offline channels. We will continue our focus in the mobile app since app users are more than 10x as engaged as web users based on the number of pages viewed and our shift towards the app will enable us to establish a direct relationship with consumers.Īs I think about the year ahead and the large opportunity in front of us, our three priorities are to continue to build our core local advertising business, increase awareness and engagement and grow transactions. Consumers are increasingly moving their online activity to mobile devices and we have evolved to a mobile-centric company. We successfully shifted our business to perform its based advertising and as of the fourth quarter, more than 60% of our local advertising revenue came from CPC customers. We saw strong performance in 2015 as revenue grew 46% year-over-year to more than $0.5 billion. In our press release issued this afternoon and our filings with the SEC, each of which is posted on our website, you will find additional disclosures regarding these non-GAAP financial measures and a reconciliation of historical net income to adjusted EBITDA and non-GAAP net income and non-GAAP EPS to, or excuse me, and GAAP EPS to non-GAAP EPS.Īnd with that, I will turn the call over to Jeremy.
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Please refer to our SEC filings, as well as our financial results press release for a more detailed description of the risk factors that may affect our results.ĭuring our call today, we will discuss adjusted EBITDA, non-GAAP net income and non-GAAP EPS, which are non-GAAP financial measures. In addition, we are subject to a number of risks that may significantly impact our business and financial results. Please note that these forward-looking statements reflect our opinions only as of the date of this call and we undertake no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events. We will make certain statements today that are forward-looking and involve a number of risks and uncertainties that could cause actual results to differ materially. And COO, Geoff Donaker, will join us for Q&A.īefore we begin, I will read our Safe Harbor statement. Joining me on the call today are CEO, Jeremy Stoppelman and CFO, Rob Krolik.
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Good afternoon, everyone and thank you for joining us in Yelp’s fourth quarter and full year 2015 earnings conference call. I will now turn the call over to Wendy Lim. Please note that this conference is being recorded. At this time, all participants are in a listen-only mode. My name is Nicole and I will be your operator for today’s call.
Welcome to the Fourth Quarter and Full Year 2015 Yelp Inc. Jeremy Stoppelman - Chief Executive Officer Yelp ( NYSE: YELP) Q4 2015 Earnings Conference Call Febru4:30 PM ET
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