OpenTable Has A Healthy IPO. Shares Shoot Up 40 Percent, Market Cap Passes $600 Million.
Is the IPO drought over? Not quite. But OpenTable’s successful IPO today will give tech startups and VCs a sign of hope that you can still go public eventually if you have a real business. On a day when the Nasdaq is down 2 percent, OpenTable is up 40 percent from its offering price of $20 (which itself kept moving up from $12 to $14 initially). The stock opened at $24, and was trading at around $27.40 last time I checked. With 21.6 million shares outstanding, that gives OpenTable a…
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