Craigslist’s success in the local space has many wondering how do we cash in! Google and Yahoo have new and improved local editions, which means I don’t ever have to use Citysearch ever again. Next up, Yelp, a new start-up, that has been bankrolled and mentored by Max Levchin, co-founder of Paypal.
Yelp! is a service that allows you to find, share and manage recommendations for local services from people that you know. Most online local services sites are not that useful, basically just an online version of the Yellow Pages. Yelp adds persistence and reach to the word of mouth process, which is the way most people find local businesses. It’s a marketplace worth more than the entire online advertising market at $14Bn in the US and $40Bn worldwide and so is starting to attract a great deal of interest.