Google Bought Zagat for $125 Million, WSJ Reports
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Google Inc. paid $125 million for restaurant-review company Zagat, the Wall Street Journal reported Friday.
When Google announced the acquisition on Thursday through its company blog, it did not disclose a purchase price.
Marissa Mayer, Google’s vice president of location and local services, praised the 32-year old publishing company in a Google blog post on Thursday.
Zagat rates restaurants and other businesses, in competition with similar services like the free site Yelp, which is a private company, and TripAdvisor, which Expedia Inc. plans to spin off in the third quarter.
Zagat’s reported purchase price was much lower than a previous estimate for competitor Yelp, whose valuation was estimated as high as $475 million in January 2010, when Elevation Partners announced plans to invest $100 million in the web company.
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