The success of Yelp (which is very popular, if not profitable), has drawn attention to the local user-generated review site as a potentially viable business model. Indeed, with millions of small businesses looking for new customers (and presumably willing to advertise), accurate, comprehensive and trustworthy local directories are invaluable services for companies and customers alike.
So when Yelp introduced its London site in January, it signalled its intention to attract advertising from a chunk of the city’s 300,000 local businesses. Other similar sites were already active in London, and now one local competitor, TrustedPlaces, is trying to outflank Yelp before it gains traction. Read more