The Zagat guide was more than a cultural phenomenon, however. It represented the analog birth of a disruptive idea—user-generated content—that has transformed the business landscape and continues to power such juggernauts as Amazon, Facebook, and Twitter (not to mention upstarts like Glossier, Target’s kid-inspired Studio Connect, and health companies like WebMD and Iodine). But Zagat is also a symbol of resilience. It has weathered the transition from print to digital and then mobile, the dotcom bust of 2000, the rise of blog culture, and a $151 million acquisition by Google in 2011, followed by a purchase, for an undisclosed price last March, by The Infatuation, a restaurant-review site with its own snark and social-media-based recipe for success. Recently, The Infatuation announced a $30 million investment from WndrCo, a holding company founded by Jeffrey Katzenberg, Ann Daly, and Sujay Jaswa. As this new chapter begins, insiders reflect on the early challenges, happy accidents, and surprising endurance of the brand, along with a moment that former Google executive Marissa Mayer calls “one of my biggest heartaches.”
Comments