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