IAC Buys Restaurant Review Site
April 29, 2009 (FinancialWire) — Website operator IAC (NASDAQ: IACI) has acquired Urbanspoon, an online local restaurant guide. Terms of the deal were not disclosed.
Urbanspoon aggregates restaurant reviews across the web, from newspapers and professional food critics to bloggers and diners. The company claims that millions of iPhone users have downloaded an application that brings Urbanspoon content to users of Apple’s (NASDAQ: AAPL) mobile phone.
IAC said that Urbanspoon will remain an independent brand, and will report to Jay Herratti who oversees the company’s Citysearch, InsiderPages and Evite brands.
IAC said that Urbanspoon rounds out a portfolio of local brands that include Citysearch, ServiceMagic, InsiderPages, and investments in OpenTable and MerchantCircle.
New York-based IAC operates around 35 internet businesses in 40 countries.
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