I read today that urbanspoon was acquired by IAC. To me, this makes perfect sense and here's why. I read about it, hadn't used it, but a friend about a week *after* I read about the application on Iphone was using it in front of me & saying how awesome it was...well, shucks. He doesn't read all the latest internet hype, so, there must be something there.
Personally, I'd call it "real world value"...eg, the application makes sense and it provides a service that executes flawlessly against it's premise: use it to find food near you, and the app will figure out your location, for you.
This is the challenge of a lot of web services...how do you provide real world value? I think we're getting close, but, not there yet ;)
Congrats, guys, it's awesome to see a bootstrapped start up make it big & get bought for (hopefully) serious $$$.