Open Table is Open to the Public

Posted by R.K. Gella

Open Table, the online reservation system utilized around the world, from New York City to Hong Kong, has announced plans to go public.  Last week the San Francisco based company filed papers to enter the ring of NASDAQ.

Considering the tumultuous state of the economy and the fact that the number of businesses moving into a successful IPO has been a throbbing zero since August, pessimists of the company’s venture stand in the majority.

Around since 1998, the company has expanded rapidly, with a nine-month revenue (ending in September 2008) reported to be 41.3 million, a 41% increase from the previous period.  The company is hoping to garner 40 million with an IPO.

Yet, with restaurants closing by the dozens every week in cities like New York, potential investors are cautious on whether or not the market for Open Table, which generates 54% of its revenues from restaurant subscription fees, will remain viable.

Open Table’s success could signal the righting of the economic pendulum otherwise be marked as another casualty.

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