Monday, May 18, 2009
Will OpenTable Be Just What Silicon Valley Ordered This Week?
One of the first Silicon Valley start-ups to go public in a long while–OpenTable–is expected to come to market this week, with venture firms hoping it will prove a tasty treat for Wall Street.
Whether the $42 million initial public offering of the online restaurant reservation service proves to be a bellwether or not is unclear since its business has–despite strong revenue gains over the last two years–run up operating losses for much of its lifespan of more than 10 years.
In any case, OpenTable is most definitely a creature of Silicon Valley. Its CEO, Jeff Jordan, is a former top eBay exec, and one of its VC backers is Benchmark Capital, among others.
