Yelp Enters UK; Creating Jobs for Locals
Yelp (NYSE: YELP), a company running an online site that connects consumers with local businesses, announced Tuesday the expansion of its UK presence with the opening of a new sales office in London.
According to Yelp, it has created 100 new jobs in London to help build its new sales and marketing teams. This announcement is a landmark moment for the expansion of Yelp’s European operations as it moves to monetize its services in Europe for the first time, says the company.
The Duke of York met with Yelp executives at their London office as the announcement was made, said Yelp.
“We are pleased that Yelp has decided to invest further in the UK and use it as the gateway to Europe as it continues to deliver on its impressive international expansion plans,” said The Duke of York. “The UK continues to prove an attractive investment proposition for innovative companies, leading to job creation and skills development that will ensure the UK remains an engine of growth.”
Yelp opened for trading in March on the New York Stock Exchange under the ticker symbol “YELP” after its initial public offering (IPO) in which it raised $107.25 million in gross proceeds. (Read: Yelp Celebrates IPO and First Day of Trading on NYSE)
“The UK is filled with entrepreneurial local business owners looking for targeted ways to reach consumers; Yelp brings those businesses and consumers together in a unique way,” said Jed Nachman, senior VP of Revenue at Yelp.
In the picture above: The Duke of York and Jed Nachman at Yelp London.