The Infatuation Announces $30M Investment from WndrCo
Expansion in Geography and Technology On Tap for the Disruptive Restaurant Discovery Platform
NEW YORK, Sept. 27, 2018 /PRNewswire/ -- Restaurant discovery platform, The Infatuation, today announced it has closed a $30M investment from WndrCo, a holding company that invests in, acquires, develops, and operates consumer technology businesses for the long term.
The capital from WndrCo, founded by media and technology veterans Ann Daly, Sujay Jaswa, and Jeffrey Katzenberg, will be used to accelerate the company's long-term growth strategy, including launching in new cities, expanding its technology platform and product offerings. WndrCo Founding Partners Daly and Jaswa will join the company's board of directors.
Founded in 2009 in New York City by longtime music industry executives Chris Stang and Andrew Steinthal, The Infatuation has developed into one of the most innovative restaurant discovery platforms in the world with a large and passionate global community. The organization has expanded to more than two dozen cities and has developed a unique approach to creating and delivering content to its audience, be it via its prolific web presence, useful mobile apps, large and influential email newsletter, or its popular SMS-based recommendation platform, Text Rex. The Infatuation also hosts and produces more than 50 community events annually, including its large-scale food festival, EEEEEATSCON.
In March 2018, The Infatuation acquired the legendary restaurant review brand, Zagat, from Google. The strategic acquisition will allow the company to enter the user-generated content discovery space, providing two powerful brands and two distinct approaches to restaurant discovery.
"The unique opportunity ahead for The Infatuation created a need for an investment partner whose approach was founder-friendly and offered a commitment to a long-term time horizon, which we believe to be instrumental for success," said Chris Stang, Co-Founder and Chief Executive Officer, The Infatuation. "Ann, Sujay, Jeffrey and the entire WndrCo team have the operational and domain expertise we were seeking in a partner, as well as a unique ability to navigate both the tech and content space which will help us achieve our immense growth potential. We couldn't be more excited for this opportunity and for what lies ahead."
"The Infatuation provides a unique and unrivaled user-experience in the restaurant discovery space. They have built a sizable community with tremendous growth potential, and given their expertise, they are very well positioned to succeed," said Daly and Jaswa. "Chris and Andrew have assembled a talented team and are committed to delivering the highest editorial standards and connecting people who are passionate about food and dining experiences. We share their long-term vision for growing the business and expanding geographically and firmly believe in their future."
The company's signature food festival, EEEEEATSCON, will host its first east coast event in New York City on Oct. 6 at Forest Hills Stadium, after successful events in Los Angeles the past two years.
About The Infatuation
Founded in 2009 in New York City by longtime music industry executives Chris Stang and Andrew Steinthal, The Infatuation has developed into one of the most innovative restaurant discovery platforms in the world. The company now covers more than two dozen global cities with a new unique approach to creating and delivering restaurant reviews and guides via its prolific web and social media presence, useful mobile apps, large and influential email newsletter, and its popular SMS-based recommendation platform, Text Rex. The company also hosts and produces more than 50 community events annually, including its large-scale food festival, EEEEEATSCON. In March of 2018, The Infatuation acquired legendary restaurant review brand, Zagat.
About WndrCo
WndrCo is a holding company that invests in, acquires, develops and operates consumer technology businesses for the long term. Founded by media and technology veterans Ann Daly, Sujay Jaswa, and Jeffrey Katzenberg, WndrCo is co-headquartered in Los Angeles and San Francisco. Please visit www.wndrco.com for more information.
Press Contact:
Michael Sinatra
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551.574.8031
SOURCE The Infatuation
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