Yelp plummets as advertisers exit

Yelp cited local advertiser departures in January and February for a more 28 percent decline in its shares following a disappointing quarterly earnings report.

Small emerging businesses faced issues competing in its ad system against more established businesses, Yelp officials said.

“It was all hands on deck obviously at that point, and we put a team in place to focus on that particular cohort and that particular profile,” said Jed Nachman, Yelp’s chief operating officer. “And we’re able to really course-correct in a pretty short period of time and saw progressively better results as we got into March and particularly in April.”

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