Bubble 3.0? Check the full article for details
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
4045 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 $28$29 last time I checked. With 21.6 million shares outstanding, that gives OpenTable a market capitalization of $605$626 million on its first day of trading. (The company itself cleared $60 million in the offering). Update: The stock closed at $31.89, up 59 percent from the offering price, giving the company a market cap of $689 million at the end of the trading day.