Looks like Google is in the hunt for a buyer for its U.S. restaurant review guide website Zagat.
The search engine company has not confirmed anything yet, but, according to Reuters, it has participated informal talks in recent months with multiple companies. The sources asked to remain anonymous since the rumored sale is being handled privately.
Alphabet Inc's Google had bought Zagat in 2011 for $151 million. The potential sale of the restaurant review company by Google would indicate a move away from previous plans to penetrate into the restaurant industry. "Zagat gradually became less of a priority as Google focused on drawing traffic to its Google+ social network," reports Reuters.”
At this time the asking price is unknown, but sources familiar with the matter said that any deal would involve the Zagat brand name and website
Currently, Zagat reviews can be found in Google Maps’ restaurant listings and the website, Zagat.com, is maintained by a small team.
It looks like the holding company, Alphabet, is polishing its portfolio, which includes pursuits in unrelated industries like healthcare and urban planning, to better focus in core assets.
Zagat dates back to 1979 and was founded by Tim and Nina Zagat.
By Vanessa Rodriguez
January 07, 2018
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