OpenTable IPO and Review

Posted by Tom Blue on May 18, 2009 under Companies, Funding, Investing, Technology | Be the First to Comment

I have been using OpenTable for about a year now. It’s a great site and I will continue to use it. I don’t use it to search for restaurants by a specific type or cuisine, but more for trying to make a reservation. When I find a restaurant I want to go to I search for them on OpenTable. I find it easier to do this than to actually call the restaurant. For one, it sends you reminders so you don’t have to schedule it. Second, if there is no availability, it is easy to see the times available that night or for nights around that date. Another cool feature is just looking for a specific restaurant in a certain neighborhood. That is a great option if you are in a large city like New York.

OpenTable also recently priced out their IPO at $12-$14 a share. They could expect to raise around $42M. They did about $16M in revenues in the first quarter of this year.