Yelp at Goldman Sachs Communacopia + Technology Conference 2026: ai push

On September 9, 2026, Yelp announced a shift in strategy at the Goldman Sachs Communacopia + Technology Conference, placing a strong emphasis on artificial intelligence to refresh its platform and create new revenue streams. The company, led by CEO Jeremy Stoppelman, described its transition from a product-led growth phase to the AI era, in which AI is now central to product development and distribution.

Yelp's local business data is being utilized across various platforms, including ChatGPT, Apple, Meta, Bing, and Amazon Alexa, as well as automotive systems.

New products such as Yelp Host and Hatch are being developed to expand revenue beyond advertising, with the core restaurant, retail, and other segments still facing macro pressures. For the next three years, management aims to achieve $250 million in annualized other revenues, up from $133 million in the second quarter of 2026. They will continue to invest in growth but remain disciplined in capital allocation and selective in mergers and acquisitions.

Stoppelman highlighted Yelp's unique data asset for local search and commerce, comparing it to Reddit and Wikipedia in terms of trust and breadth for local information. Yelp Assistant, a chat interface providing access to local business content, has been launched, and the company has modernized its product by integrating AI elements. Yelp's stock has struggled, trading near its 52-week low and down roughly 33% year-to-date, but InvestingPro analysis suggests it may be undervalued based on Fair Value metrics.