On-Premises Consumer Wi-Fi to Serve as Centerpiece of the Company’s Customer Retention and Loyalty Marketing Service
Turnstyle’s core technology allows consumers to tap into free guest Wi-Fi while helping businesses re-engage those customers in the future via email. Businesses can build highly targeted customer contact lists and access powerful analytics that provide insight into visit frequency and duration. Combining this offline data with Yelp’s extensive online and mobile search data will deliver a comprehensive intent-based marketing resource to local businesses.
“We’re excited to expand our product offering for local businesses
through this acquisition. Turnstyle helps connect businesses to
consumers through free public Wi-Fi, and is an effective retention and
loyalty program that helps businesses be more successful,” said
"Since our founding, Turnstyle has focused on building the best Wi-Fi
marketing service to help businesses," said
Under the terms of the purchase agreement, Yelp acquired all of
Turnstyle’s outstanding capital stock for approximately
1 Calculated as the number of unique devices accessing the app on a monthly average basis over a given three-month period, according to internal Yelp logs.
2 Calculated as the number of “users,” as measured by
3 Calculated as the number of “users,” as measured by
This press release contains forward-looking statements relating to, among other things, the anticipated benefits of Yelp’s acquisition of Turnstyle, Yelp’s strategy, plans, objectives, expectations and intentions with respect to Turnstyle, including with respect to offering Turnstyle products to Yelp-listed businesses, Yelp’s ability to deliver a comprehensive intent-based marketing resource to local businesses, the future performance and market position of Yelp and its subsidiaries, and other statements that are not historical facts. These forward-looking statements are based on Yelp’s current expectations, forecasts and assumptions, and inherently involve significant risks and uncertainties. Actual results and timing of events could differ materially from those predicted or implied in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with the acquisition, such as the risk that the businesses will not be integrated successfully or that such integration may be more difficult, time consuming or costly than expected; risks related to future opportunities and plans for the combined company, including whether Turnstyle’s customers will continue to use the service following the acquisition, whether Yelp will be able to leverage its large distribution network to increase the customers using the service and whether the acquisition will drive customer acquisition on Yelp; risks related to the potential disruption of both businesses in connection with the transaction; and the competitive and regulatory environment while Yelp continues to expand and introduce new products as new laws and regulations related to Internet companies come into effect. The forward-looking statements in this release do not include the potential impact of any acquisitions or divestitures that may be announced and/or completed after the date hereof.