Cramer’s next master of mobile

(Click for video linked to a searchable transcript of this Mad Money segment)

For months, Cramer has liked Facebook as a bet on mobile. But there's another company on his radar now.

It's Yelp.

After poring through recent earnings, Cramer thinks Yelp may be leveraging mobile quite effectively.

Largely Yelp is a website that attempts to connect customers with local businesses by allowing people to post reviews. According to the company, the site contains over 42 million reviews.

Although the site can be accessed on computer, it also has apps on BlackBerry, iPhone and Android.

Lukajani | E+ | Getty Images

It's the app and mobile results that have captured Cramer's attention. Yelp said it got about 40 percent of its local ads from mobile devices, and 59 percent of search from mobile.

The "Mad Money" host thinks results reflect how quickly Yelp is filling an important niche.

"Also, Yelp's introducing a 'nearby' function that allows people to assess where to go on the fly," Cramer said.

Therefore, people can travel, take out their smartphone, visit Yelp! and make spontaneous decisions about visiting local establishments likes bars and restaurants.

And Cramer believes as more people find out about Yelp, more local business will feel compelled to have a presence on the site.

"This is a remarkably powerful and robust concept and it is working well," Cramer said.

That alone is enough to make Cramer a buyer of the stock but there's something else he likes, though this catalyst is far more speculative.

Although more than half of its traffic comes from Google, a substantial number of referrals also come though Apple's iPhone. "Apple needs a better social and mobile strategy. It would cost Apple a pittance to buy Yelp," Cramer speculated.

Therefore Cramer sees two ways to win: oxygenated growth or takeover. I think that's the Yelp story after this remarkably robust quarter."

Read More from Mad Money with Jim Cramer
As Fed ponders, how do you profit?
Cramer: 'I think there's a lot of upside here!'
Up 40% ytd, is Cramer still bullish on Priceline?

Looking at results a little more closely, its net loss narrowed to $0.9 million, or 1 cent per share, in the second quarter, from $2.0 million, or 3 cents per share, a year earlier.

Revenue rose 68 percent to $55.0 million.

Analysts were expecting a loss of 4 cents per share, on revenue of $53.3 million.

Call Cramer: 1-800-743-CNBC

Questions for Cramer?

Questions, comments, suggestions for the "Mad Money" website?