IPO Brings In $55.8M

Reservation website, which services reservations for restaurants across the nation, released an initial public stock option offering last week netting a mere $55.8M for the company. The ten year old company, with nearly 11,000 food service clients, sold 3 million shares with a starting price of $20 per share.

Pre-IPO, closed the most recent quarter with $366,000 in net profits, noting the total number of restaurants served by the web-based system up 26% from the previous year.

~Jennifer Heigl

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