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    Nitin Bansal

    Senior Equity Research Analyst at Bank of America

    Nitin Bansal is a Senior Equity Research Analyst at Bank of America, specializing in the Internet and Digital Media sector with direct coverage of companies such as Yelp and Uber. He has issued actionable ratings on public companies, maintaining a conservative outlook on firms like Yelp, and is recognized for his in-depth analysis and timely market insights. Bansal joined Bank of America following earlier experience in financial research and has since built a track record of thoughtful stock recommendations, as reflected in his analyst performance tracked by leading platforms. He holds professional credentials relevant to securities analysis and is an active participant in industry forums and investor relations events.

    Nitin Bansal's questions to YELP (YELP) leadership

    Nitin Bansal's questions to YELP (YELP) leadership • Q1 2025

    Question

    Nitin Bansal asked for an update on user engagement trends across mobile and web, any notable changes in platform usage during Q1, and details on the monetization trends and performance of the recently acquired RepairPal.

    Answer

    CEO Jeremy Stoppelman acknowledged macro pressure on engagement in the RR&O categories but highlighted strength in Services, which saw 14% revenue growth and 15% organic growth in Request-A-Quote projects. Regarding RepairPal, he stated the integration is proceeding smoothly and that the company is pleased with the acquisition. He identified 'low-hanging fruit,' such as integrating RepairPal's scheduling functionality directly onto Yelp business pages, which is expected to drive positive results in the coming months.

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    Nitin Bansal's questions to YELP (YELP) leadership • Q4 2024

    Question

    Nitin Bansal questioned the expected growth trajectory and profitability of the recently acquired RepairPal business and its impact on 2025 results. He also asked if Google's AI-powered search overviews were affecting Yelp's traffic.

    Answer

    CEO Jeremy Stoppelman explained the immediate focus for RepairPal is on integration and leveraging synergies to accelerate growth, with performance expectations baked into the 2025 guide. CFO David Schwarzbach added that RepairPal was acquired at roughly breakeven, and the priority is top-line growth. Regarding Google, Stoppelman stated the company has not seen any material or unusual shifts in web traffic.

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    Nitin Bansal's questions to Shutterstock (SSTK) leadership

    Nitin Bansal's questions to Shutterstock (SSTK) leadership • Q2 2024

    Question

    Nitin Bansal asked for clarity on the decline in the existing subscriber base, contrasting with the commentary on weak new customer acquisition, and what provides confidence that these trends can improve in the second half.

    Answer

    CEO Paul Hennessy explained that customer churn has not seen significant movement, but weaker new customer acquisition results in a net decline in total customers. He also attributed the subscriber decline to a product mix shift, where the elimination of the free trial for subscriptions has pivoted customers toward transactional and pack-based products. He affirmed that this is the correct long-term strategy for the business.

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    Nitin Bansal's questions to Shutterstock (SSTK) leadership • Q2 2024

    Question

    Nitin Bansal questioned the drivers behind the decline in the existing subscriber base, contrasting with the focus on weak new customer acquisition, and asked what provides confidence for a second-half improvement.

    Answer

    CEO Paul Hennessy clarified that customer churn has not significantly changed. He attributed the subscriber decline to a combination of weaker new customer acquisition and a product mix shift away from subscriptions toward transactional packs, a direct result of eliminating the free trial offer, which management believes is the correct long-term strategy.

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    Nitin Bansal's questions to Shutterstock (SSTK) leadership • Q1 2024

    Question

    Nitin Bansal asked about the sources of demand for Shutterstock's data beyond large language models as GenAI applications accelerate, and how the company's go-to-market strategy has evolved. He also inquired about the challenges in scaling the Giphy business, the timeline for its meaningful revenue impact, and the potential for a third-party partnership to expedite monetization.

    Answer

    CFO Jarrod Yahes explained that visual media is a critical training input for all multimodal models, not just image generators, driving broad demand from new and existing customers. CEO Paul Hennessy stated that Giphy's main challenge is restarting from a 'cold start' but that they are seeing strong interest and rising average order values. While not giving a specific timeline for revenue impact, he confirmed they are investing in the sales team and are actively exploring strategic partnerships to accelerate Giphy's monetization.

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    Nitin Bansal's questions to Shutterstock (SSTK) leadership • Q1 2024

    Question

    Nitin Bansal asked about the sources of demand for Shutterstock's data beyond large language models as GenAI applications accelerate, and how the go-to-market strategy has evolved. He also inquired about the challenges in scaling the Giphy business and whether a partnership with a larger platform could expedite its monetization.

    Answer

    CFO Jarrod Yahes explained that demand is increasing from both new and existing customers and that visual media is a critical training input for all multimodal models, not just image generators. CEO Paul Hennessy addressed Giphy, stating the main challenge is restarting the business and reaching advertisers, but interest is high. He confirmed that exploring partnerships with larger platforms to expedite monetization is a key part of their strategy, noting they are in discussions with interested parties.

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