OpenTable Files for IPO, Reveals Finances
TechCrunch reports that OpenTable has filed for an IPO, hoping to raise as much as much as $40 million to finance expansion, particularly in international markets. We find out that last year, through September 2008, OpenTable lost $149,000 on revenues of $41.3 million.
The thing is, it's pretty easy to get a reservation these days — a quick glance at Eater's resyFEED shows that you can generally get a table at peak hours at major restaurants (except maybe on Fridays). At least in their prospectus, OpenTable is being realistic:
Our performance is subject to worldwide economic conditions and their impact on levels of consumer spending, which have recently deteriorated signiﬁcantly and may remain depressed, or be subject to further deterioration, for the foreseeable future.