Google Inc. announced today that it has bought Zagat, publisher of more than 100 dining and entertainment surveys.
On her blog, Google’s VP of local, maps and location services Marissa Mayer, wrote that “Zagat will be a cornerstone of our local offering — delighting people with their impressive array of reviews, ratings and insights, while enabling people everywhere to find extraordinary (and ordinary) experiences around the corner and around the world.”
Reuters noted that shares of OpenTable were down more than eight percent as investors surmised that the combination of Google’s search and Zagat’s reviews would present a challenge to the restaurant-booking service’s domination of the market.
Tim and Nina Zagat, who founded the company 32 years ago, have been looking for a buyer since 2008. On their website, they announced the sale in pitch perfect Zagat-ese:
ZAGAT, a “pioneer in user-generated content” and creator of the world’s most “influential” and “trusted” consumer reviews, has been acquired by another “renowned innovator,” GOOGLE; by combining their content, resources and platforms, the “dynamic duo” plans to optimize the potential of the ZAGAT . . .”
The terms of the deal were not disclosed.