OpenTable’s Initial Public Offering Impress
May 22, 2009 by Stephen Kersey
Filed under Business
OpenTable, a corporation that provides free online dinner reservations in addition to visitor management systems for restaurants, priced their initial public offering at $20 per share and made three millions shares available. By the end of their first trading sessions on Thursday, OpenTable’s stock was sitting on $31.85 — a jump of nearly 60%.
The 60% jump was the best first day showing for an IPO on Nasdaq since the November of 2007. During the day, trading reached more than $35.
OpenTable can be reached at OpenTable.com. On the website, you can make a reservation at one of 100 million diners. The service is totally free for the user. In addition to this reservation service, OpenTable offers restaurants software systems that allow them to electronically better organize their day to day activities.
While OpenTable’s technologies and services have garnered rave reviews over the years, many market experts were surprised by the success of their IPO.
Open Table at a Restaurant (Image: Flickr)
