Google buys restaurant review guide Zagat
09 Sep 2011
Google Inc yesterday acquired popular restaurant review guide Zagat, as part of its ongoing push to add a popular brand to its portfolio of local commerce assets.
Though Google withheld information on the financial terms of the transaction, but some media reports have speculated that the Internet giant has paid between $100-$200 million.
Private equity firm General Atlantic owns a third of Zagat, having acquired the stake in 2000 for $31 million.
Started as a hobby venture by Tim and Nina Zagat in 1979, Zagat Survey, which is largely behind a subscriber pay wall, is now the world's leading provider of consumer survey-based information on where to eat, drink, stay and relax worldwide.
Zagat says its ratings and reviews are based on the opinions of over 350,000 surveyors from around the globe, which help consumers make informed decisions about restaurants, nightspots, hotels, attractions and other leisure activities.
Manhattan-based Zagat provides consumer generated reviews on a variety of media platforms including print, the web, mobile devices, in-car and personal navigation devices, TV and radio in more than 100 countries.
