Yodle raises $10M for local business advertising market
By Azam on January 12, 2009 
Yodle helps small businesses buy online ads to market themselves in the local market and has raised $10 million in funding for further development and to expand sales nationally. Yodle is a new alternative to yellow pages and turns click-throughs into direct response phone calls for the small business companies.
Currently, Yodle is mentioned to have 5,000 customers. The company claims to have seen a 700 percent jump in revenue from 2007 to 2008, attributing the growth to two facts: first, that 75 percent of consumers search for local services and businesses online, and second, that local business owners have caught on to the importance of online advertising but don’t know how to do it effectively themselves.
“It’s been a watershed year for Yodle, and thanks to our incredible team working hard to deliver for our customers, we expect that growth to continue in 2009,” CEO Court Cunningham said in the release. “While our competitors retrench in the face of financial adversity, we are stepping up investment in our customers’ success. This new funding round will accelerate product and technology development to provide increased online exposure and even stronger results for our local business owner clients.”
Last month, Yodle said that its clients make $7 in profit for every $1 they spend to advertise through the service which is down from its claim of $12 profit in 2007. It charges an initial fee of $447 and allows clients to budget anywhere between $900 and $5,000, according to an article on Forbes.com.
The recent investment round was led by AFCO Ventures, and included Draper Fisher Jurvetson Growth, as well as previous investors Draper Fisher Jurvetson and Bessemer Venture Partners, bringing its total capital raised to $25 million.
Reading List
TechCrunch Local Advertising Booster Yodle Growing Like a Weed
VentureBeat Yodle lands $10M for local web advertising
Categories : Media & Ads, TechTags : Court Cunningham, Local Advertising, Local Web Advertising, Yodle