A few years ago, Zagat was trying to shop itself around for $200 million. Today, Google bought it for less than $66 million. The price wasn't disclosed, but there was no FTC antitrust review, which is automatically triggered by any deal worth $66 million or more. Google wants Zagat for its reviews. The mostly-print restaurant and city guides are filled with crowdsourced reviews from 350,000 readers who submit them. It sounds a little bit like Yelp, except with far fewer reviews. Yelp, by comparison, attracts more than 50 million users a month who have written over 20 million reviews. In fact, the acquisition is very much an attempt to catch up with Yelp, which values its reviews as a major asset, one which Google at one point tried to buy and then later borrow.
giovedì 8 settembre 2011
Zagat?s Price: Under $66 Million
A few years ago, Zagat was trying to shop itself around for $200 million. Today, Google bought it for less than $66 million. The price wasn't disclosed, but there was no FTC antitrust review, which is automatically triggered by any deal worth $66 million or more. Google wants Zagat for its reviews. The mostly-print restaurant and city guides are filled with crowdsourced reviews from 350,000 readers who submit them. It sounds a little bit like Yelp, except with far fewer reviews. Yelp, by comparison, attracts more than 50 million users a month who have written over 20 million reviews. In fact, the acquisition is very much an attempt to catch up with Yelp, which values its reviews as a major asset, one which Google at one point tried to buy and then later borrow.
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