Mar 20, 2020 - Economy & Business

Yelp to give $25 million to help local businesses survive the coronavirus slowdown

Photo: Jeremy Hogan / Echoes Wire/Barcroft Media via Getty Images

Yelp announced Friday a program that will provide $25 million, primarily in the form of free advertising, to small businesses that make it through the coronavirus pandemic.

Why it matters: Small businesses have been hit especially hard amid the near shutdown of public life — but so, most likely, have companies like Yelp that depend on such businesses.

  • Facebook, which also gets a significant amount of advertising revenue from small businesses, announced its own $100 million program earlier this week, also aimed at giving free advertising to small businesses.

What's next: Yelp said this is just a start. "We're continuing to explore ways we can do more to support local businesses, and our teams are also working with our regional and national clients to ensure we are supporting them during this period."

Go deeper: States order bars and restaurants to close due to coronavirus

Go deeper

Facebook spending $100 million to help news outlets in coronavirus crisis

Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Facebook says it is spending $100 million to support news outlets around the world that have been impacted by the coronavirus, the company said Monday.

Why it matters: Whatever Facebook's motivation, this is a much-needed cash infusion at a critical time for the local news industry.

Tech giants set to lose billions in ad revenue in virus shutdown

Illustration: Aïda Amer/Axios

Tech giants like Google, Facebook and others are expected to lose billions of advertising dollars this year thanks to economic disruptions caused by the coronavirus pandemic, analysts say.

Why it matters: The losses aren't expected to cripple these companies, but they will put a dent in the otherwise unprecedented growth that several have experienced for the past few years.

The coronavirus pandemic is hitting Main Street

Illustration: Aïda Amer/Axios

America is grinding to a near halt to slow the spread of the coronavirus outbreak. It's wreaking unprecedented havoc on the restaurant and retail industries — and their millions of workers.

Why it matters: Amid all the discussion about how the pandemic is roiling Wall Street, its most acute impact is being felt on Main Streets around the country.