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Google to sell Zagat to the Infatuation: report

Alphabet Inc.’s Google will be selling the Zagat review platform to an online startup called the Infatuation, according to a report from the New York Times. Google bought Zagat in 2011 and integrated its reviews into online search results. The Infatuation was founded in 2009 and is looking to better compete in a crowded landscape for restaurant reviews, where Google and Yelp Inc. are major players. The New York Times spoke about the sale with the Infatuation’s CEO, but he didn’t disclose an acquisition price. “Zagat has helped us provide useful and relevant dining results for users across our various products,” Google’s vice president of product and engineering Jon Fitzpatrick said in a statement given to MarketWatch. “The Infatuation is an innovative company that will be a terrific home for the Zagat brand.” Alphabet shares are down 0.8% in Monday morning trading, while Yelp shares are down 1.1%. Alphabet’s stock has gained 26% over the past 12 months, while Yelp’s has gained 30% and the S&P 500 Index has risen 13%.

Source : MTV