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Yelp , which made a name for itself giving restaurant recs , justboughtan auto service website .
In the company ’s profits report on Thursday , Yelp revealed that it agreed to bribe RepairPal , a site for railway car fixture estimates , for $ 80 million in hard currency . The learning is expected to close by the end of the year , open to customary culmination condition .
“ We conceive RepairPal will quicken our broader help effort by expand our offerings in the multi - billion one dollar bill U.S. car services advertizing vertical , ” Jeremy Stoppelman , Yelp ’s co - founder and CEO , said in a assertion .
While it might not seem like an obvious marriage , RepairPal correspond into Yelp ’s ambition to become a major home services funnel shape .
In late years , Yelp has added functionality beyond eating house and business sector lookup tools , like an AI - powered feature of speech that suggest plumbers , maintenance man , and other home service provider to exploiter potentially in need of them . Yelp has also introduce programs like Yelp Guaranteed , which offers up to $ 2,500 of reportage for qualifying projects in case of problems .
yelping make money through fee it welcome from service providers for certain leads — and through ads . In the company ’s most recent fiscal poop ( Q3 2024 ) , advertising revenue from service businesses increased 11 % year - over - twelvemonth to a track record $ 228 million , with taxation growth of around 15 % in the home plate services category alone .
In its shareholderletter , Yelp says that RepairPal generated approximately $ 30 million in receipts and was roughly break - even on hard cash and net income .
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“ We think there are clear synergy between Yelp and RepairPal , ” the letter of the alphabet show . “ RepairPal brings deep knowledge of auto repair and pricing , which we can leverage to improve our offerings for automobile services businesses . They also maintain a robust partner connection , include CarMax , USAA , and Endurance Vehicle Services . Meanwhile , Yelp has a large consumer audience and expertness in area like hunt locomotive engine optimisation , search engine marketing , and AI , which we believe will offer value to RepairPal function forward . ”
The accomplishment is a nice loss for San Francisco - basedRepairPal , which managed to raise $ 21.3 million in funding from Cars.com , Tugboat Ventures , and others in the 17 year since the society ’s founding . In its press release , Yelp did n’t say whether founding father Aaron Tavistock , David Esser , and David Sturtz will be get together Yelp incorporated .
A Yelp spokesperson after confirmed to TechCrunch that all RepairPal employees , include the leading ( but not the founding father , who no longer head the troupe ) , will be joining Yelp .
