Yelp (YELP) Lower as Facebook (FB) Updates 'Nearby' for Mobile App

December 17, 2012 2:42 PM EST
Yelp (NYSE: YELP) is seeing a little pressure on the session Monday following news that Facebook (Nasdaq: FB) might be upping the stakes in business search and reviews.

Today, Facebook updated its Nearby on the Facebook mobile app. With the update, those checking in at a business will be able to get suggestions from friends about local businesses that might be of interest.

Facebook said, "People can explore by category (ex: restaurants or hotels); connect to businesses directly from their phone (by liking, checking in, calling, or getting directions); rate the places they visit via a five-star system; and share their recommendations with friends...When someone looks for a place, the results that appear in their Nearby list are based on things like their friends' recommendations, ratings, check-ins, and likes."

Yelp is down 3 percent today.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Insiders' Blog

Add Your Comment