In recent years, Yelp has added functionality beyond restaurant and business search tools, like an AI-powered feature that suggests plumbers, repairmen, and other home service providers to users potentially in need of them. Yelp has also introduced programs like Yelp Guaranteed, which offers up to $2,500 of coverage for qualifying projects in case of problems.
Yelp makes money through fees it receives from service providers for certain leads — and through ads. In the company’s most recent fiscal quarter (Q3 2024), advertising revenue from services businesses increased 11% year-over-year to a record $228 million, with revenue growth of around 15% in the home services category alone.