"Yelp connects people with great local businesses." says Yelp on its corporate website. Founded by the former PayPal employees (IPO in 2012), Yelp is a demand aggregator platform enabling users to review local businesses and rate them according to their experience, making it one of the largest user-generated review platforms. Yelp business model (you can see https://innovationtactics.com/business-model-canvas-yelp/) works based on value proposition to three groups of Local Businesses, Users (local business seekers), and active reviewers (content creators). CNBC reports that while Yelp had a quick growth over the last 8 years, company faced with some severe concerns in recent years: "it's been a rocky road since then as advertisers fled the platform and as competition has increased from Google, Facebook and others. Watch the video to hear the story of Yelp and learn why the company has lost its 5-star rating." Please watch this CNBC video at https://www.youtube.com/watch?v=bKka8ZoCDaw and answer three below questions.

1) Provide a brief history of Yelp and its business. In your historical review, highlight the critical incidents and milestones of Yelp's life in aspect of data, privacy, and accuracy. (20 Marks)

2) According to the provided video (and your additional research), what are the ethical and legal concerns impacting Yelp's business? Explain these concerns according to Yelp's responsibilities toward different stakeholder groups (business owners, users, and reviewers). (20 Marks)

3) What is the importance of data accuracy for businesses like Yelp (Rating & Review Companies)? Explain what practical steps they should take to prevent data manipulation? (20 Marks)

Answer rating: 100% (QA)

1 Provide a brief history of Yelp and its business In your historical review highlight the critical incidents and milestones of Yelps life in aspect of data privacy and accuracy 20 Marks Yelp was foun... View the full answer