Street Fight Daily: 02.23.12
A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.
Yelp: From Scrappy Startup to $100 Million IPO (Mashable)
Yelp is ready to hit the marketplace with a $100 million IPO on March 2, and both investors and the tech community will be watching to see how the location network will fare. Yelp has proven itself over the long haul with steady user and revenue growth since 2005. But despite the upward climb, Yelp has yet to turn a profit, posting a net loss of $16.8 million in 2011
In Digital Shift, Ad Dollars ‘Evaporate’ (ScreenWerk)
Greg Sterling: A new survey makes clear there’s simply less revenue to be had for these publishers in digital advertising. Dollars “lost” to digital simply “disappear” or get shifted to other initiatives.
Loyalty Apps Get Real Results: Five to Watch (PC World)
Apps that enable companies to reward customers with freebies or discounts for purchases or social-media sharing are relatively new, but already a hit with businesses. Some merchants claim that they offer better ROI than credit card loyalty programs or daily deal sites such as Groupon.
GrubHub’s CEO On The Shock Of Outgrowing Three Offices In A Few Short Years (Business Insider)
In 2007 GrubHub secured its first round of funding, totaling $1.1 million, from Amicus Capital, Origin Ventures and some angel investors. Now, it has raised a total of $84 million in venture capital and cracked the top 250 on the Inc. 500 list. While all that growth has been exciting, it brought its own plethora of problems.
Rawporter Is A Brilliant, But Poorly-Executed, Idea (ReadWriteWeb)
Dave Copeland: The future of journalism, as Rawporter sees it, will include armies of regular people selling raw video footage to outlets who can’t get a crew to breaking news events. But, based on a test of Rawporter’s iOS app Tuesday, the future of journalism is going to have to wait.