You’ve Heard of "Checking In." Now there’s the "Check Out."

A new startup is launching a mobile application tonight that will allow restaurant-and-bar-goers the ability to “check out” to record their sentiments about the businesses they visit.

The “check-out” is dissimilar to the more familiar “check in.” Its purpose is to let your friends know whether you liked a place or hated it, whereas the “check in,” available from Foursquare, Gowala, Facebook Places and others, is used for broadcasting your location to let your friends know where you are.

The check out feature is ultimately supposed to provide enough feedback to the service to understand your preferences, so it can make better recommendations the next time you’re out.

The application was developed by Bizzy, a wholly-owned subsidiary of ReachLocal, which is a publicly held local online advertising company.

Bizzy, which launched only in November, is trying to create a service that’s more tailored to your specific tastes than Yelp or another provider. For instance, Gadi Shamia, Bizzy’s founder, president and general manager, said it should already know if you are a vegetarian or whether you like Mexican food.

Starting this evening, there will be an update available for the Bizzy application in both the iTunes and Android markets.

To “Check Out,” a user opens the application, picks the place they are currently at, and then ranks their experience based on one of three emoticons: a happy face, a so-so face or the sad face. If they have time, they can leave a more detailed description.

To make more accurate recommendations, Bizzy crunches the information it collects from its users to pair up similar tastes across its database in order to draw conclusions about what someone might like based on similar profiles.

The more check outs it can generate, the better its recommendations will become. Since the service launched in November, it’s collected more than 140,000 favorite places from Bizzy users, and has produced more than a million recommendations, Shamia said.

For now, Bizzy is focused on creating a consumer product and will figure out how to monetize it later, but the tie-ins to ReachLocal’s audience is fairly obvious.

Last month, ReachLocal acquired DealOn Media, a daily deals site for $10 million. Eventually, those deals could show up as sponsored links within the recommendations results on the Bizzy application. Shamia said it’s not live today, but you could imagine of the recommendations it generates for the user, one could be more appealing if it offered 30 percent off.

Bizzy, which has 17 employees, is funded exclusively by ReachLocal and has a separate headquarters in Sunnyvale, Calif.