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Yelp is a popular Web site for crowdsourced online reviews of businesses in major cities, both national and international. It is useful to find out about the quality of businesses, according to users. It was founded in 2004 by the former employees of PayPal, the “PayPal Mafia,” including the chief executive officer Jerry Stoppleman. It is headquartered in San Francisco and has about 2,000 employees, annual revenues of $230 million, and a market cap of about $5.9 billion. It has 132 million monthly visitors and 57 million reviews.

A Harvard Business School study by Michael Luca in 2011 shows that improvement by just one star in a company’s star rating on Yelp results in a 5- to 9-percent increase in sales.

History, the PayPal Mafia, and Venture ...
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