A little rain is failing in the desert that is the Bay Area IPO market. OPEN is coming! It is too early to tell if OpenTable will revitalize the stream of Bay Area IPO's, but let's take a moment to savor this increasingly rare feat. It has been 15 months and 6 days, not that anyone is counting, since Cupertino-based ArcSight went public. ArcSight was the ONLY Silicon Valley IPO of 2008.
OpenTable has raised their open price from $12-$14/share up to $16-$18/share, which may be a risky move if they don't close up for the day. You have to give it to OpenTable and CEO Jeff Jordan for his risk-taking spirit. We could use some bold leadership here in the valley of no-IPOs. Let's hope that OpenTable will be the cure for the current morass.
GetQuik has reason to cheer on OpenTable's IPO. As with OpenTable, we believe the efficiency, network effect, and viral nature of the Internet greatly improves the efficiency of restaurants, while at the same time, enhancing the customer experience. Naysayers claim that restauranteurs are technophobes. They claim that driving adoption of new technologies to this business segment is cost prohibitive. Thank you to OpenTable for helping to dispell these myths.
Go OPEN, go!
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