Yelp.com is a social networking service that provides location look-up and reviews through user generated information. Yelp has seen rapid growth over the past several years as investors have poured millions into the site and it’s long term vision. The popular online service continues to grow with 2010 expected to be its best year yet! For this and more we take a look at entrepreneur Jeremy Stoppelman in the spotlight this week. We’ll look at just how he did it and highlight what lessons any upcoming entrepreneur can learn.
Summary:
Name: Jeremy Stoppelman
Age: 35+
Location: San Francisco, CA
Claim to fame: Yelp.com (An online location review and search service driven by social networking.)
Initial cost: NA
How He Did It:
Jeremy Stoppelman grew up in the states where he obtained his BS in Computer Science from the University of Illinois. Prior to going full-time with his startup, Jeremy worked at PayPal as VP of Engineering. In 2003, he left the company to attend Harvard Business School. Jeremy would only last about a year before leaving to launch Yelp.com in 2004. Yelp is a online location search and review service run by the users of the site in a social networking environment. The site has become an internet success over the past several years raising multiple million of dollar amounts in funding as traffic and profits continue to grow.
Lessons Learned:
- Always be flexible in the path you take. One must be able to change course when the time calls for it.
- Find like minded individuals to share ideas and work with on large project startups.
- Look for outside help when additional funding is required.
- Research. Research. Research! Know your market before jumping in to launch a new business.
- Take the necessary time to plan.
Did you miss last weeks spotlight? Check it out here: The Entrepreneur Spotlight: Josh Williams.
Be on the lookout for our next entrepreneur spotlight article in this ongoing series. In the meantime, be sure to leave a comment and let me know what you think about the success of this week’s entrepreneur and his entrepreneurship characteristics. Also, please let me know if you have an entrepreneur you would like to see featured here in the weeks to come.
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