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OpenTable.com’s initial public offering raises nearly $30M

OpenTable.com’s initial public offering raises nearly $30M

SAN FRANCISCO —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

OpenTable’s largest shareholder investor groups before and after the IPO were Benchmark Capital Partners of Menlo Park, Calif.; funds affiliated with Impact Venture Partners of Austin, Texas; InterActiveCorp of New York; and funds affiliated with Integral Capital Partners of Menlo Park. Combined, those entities were to control 57.75 percent of post-IPO shares, according to filings with the U.S. Securities & Exchange Commission, or SEC. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

The OpenTable IPO saw an opening share price of $24.50, which on opening day climbed as high as $35.50 before closing at $31.89. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

OpenTable said that for the quarter ended March 31, it had revenues of approximately $16 million, up 20.60 percent from the same period a year earlier, and net income of $366,000. That income compared with a net loss of $87,000 in 2008. The total number of the restaurants served by the company at the end of the period, 10,645, was up 26.67 percent from a year earlier. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

For the year ended last December, OpenTable reported total revenues of $55.8 million, up 35.71 percent from a year earlier. It said it had a fiscal 2008 net loss of $1 million, versus net income of $9.2 million a year earlier. Documents filed with the SEC by OpenTable indicate that the net loss was, in large part, linked to the cost of ongoing overseas expansion. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

For the three months ended March 31, OpenTable said, its technology and services seated, on average and in aggregate, 3 million diners in client restaurants each month. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

In pre-IPO moves, OpenTable twice raised the price at which it planned to offer shares, first from a range of $12 to $14 to $16 to $18 and then to $20 the day before the offering. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

Documents filed by OpenTable with the SEC indicated it would use IPO proceeds for general corporate purposes, including working capital, sales and marketing activities, general and administrative matters, and capital expenditures. The company said the proceeds also might be used to “acquire or invest in complementary technologies, solutions or businesses or to obtain rights to such complementary technologies, solutions or businesses.” —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

OpenTable’s website at www.opentable.com permits consumers to search for available seats at participating restaurants, make real-time reservations, participate in a loyalty program with incentives and contribute reviews for the restaurants at which they eat. Consumers pay no fees. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

Participating restaurants pay a one-time installation fee, a fee for each person seated using OpenTable systems and a monthly subscription fee for use of the vendor’s software, in-restaurant hardware and services. —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

In addition to managing phone and host station reservations and processing online reservations from the OpenTable.com portal and a client’s proprietary website, OpenTable’s in-restaurant Electronic Reservations Book, or ERB, also helps operators track their patrons’ preferences, including dining times, wine varieties and table locations.— [email protected] —OpenTable Inc., an online reservations and customer relationship management software and services firm, said some of the proceeds from its initial public offering last week will be used to enhance marketing, which could be good news for its nearly 11,000 restaurant clients. Ten-year-old OpenTable, which said it served 9,548 U.S. restaurants and 1,097 overseas locations as of March 31, made its initial public offering of 3 million shares at $20 a share May 21. The San Francisco-based firm raised $29.3 million for itself and $26.6 million for the original shareholders, after a $4.2 million discount for the underwriters.

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