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IAC Buys UrbanSpoon
IAC has acquired UrbanSpoon, the restaurant review site that has an incredible popular iPhone application, amongst Facebook widgets and other widgets. The news is now over Techmeme that the company has been acquired for somewhere in the millions of dollar range. IAC has not disclosed the acquisition price.
The company was set up by Ethan Lowry, Adam Doppelt and Patrick O’Donnell with virtually no outside funding and has sold for “an offer we couldn’t refuse,” said Lowry.
UrbanSpoon’s iPhone app was monetized by Google AdSense ads.
For more information about this news, see Techmeme.