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Back in January, Zagat Survey looked for a buyer. Apparently, the cofounders -- Tim and Nina Zagat – wanted to get $200 million (hey, who wouldn't?). But, with the credit crunch, it did look somewhat optimistic even though the company has a great brand.
Well, the Zagat's investment bank, Goldman Sachs (NYSE: GS), wasn't able to get any buyers at the proposed valuation. I guess there just wasn't enough conviction that Zagat could leverage its dot-com/mobile platform.
Actually, if Zagat attempted a sale a year before, things might have been much different. But, instead the company will need to wait until markets bubble up again, which may take awhile.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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