The threat is not an immediate reservation service threat, but having that embedded Google backing would simply be a service on top of search. The announcement from Zagat’s management is here.
It was just late in August that UrbanSpoon signed a deal with Zagat that will display over 25,000 Zagat reviews featured prominently on Urbanspoon. IAC/InterActiveCorp. (NASDAQ: IACI) owns UrbanSpoon.
OpenTable shares are down 6.6% at $58.55, but the stock is now down 50% from its highs and is still carrying a high premium valuation even if the 52-week range is $54.42 to $118.66.
JON C. OGG
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