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Web Companies Can Still Have Successful IPOs

Online restaurant reservation system provider OpenTable is up 40% from its $20 initial offering price on its first day of trading. This puts the company's market cap at a healthy $605 million. This is good news for tech entrepreneurs and VCs swimming in news of doom and gloom. OpenTable recieved $48M in venture backing over three rounds.

More on TechCrunch and The Wall Street Journal (subscription required.)

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Comment by Daniel Leuck on May 23, 2009 at 12:35pm
Quiet down Alex. You are going to ruin it for all of us :-)

At least they have a real business model and revenue.
Comment by Alex Salkever on May 23, 2009 at 10:40am
Unfortunately, OT is now wickedly hyper-valued. But its good for VCs and founders . :)
Comment by Ken Berkun on May 21, 2009 at 11:17am
First one in a long time and welcome news indeed.



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