Open Table Wants to Be Known as OPEN
Open Table, which filed for an initial public offering back in January, wants to be known on the Nasdaq Exchange as OPEN. The online reservations company, based here, set a price between $12 and $14 a share and is looking to raise $16.1 million from the offering. About 10,000 restaurants pay Open Table a one-time licensing fee for its software, as well as a portion of the check from diners who use the service. The company made $366,000 on $16 million in revenues in the first quarter; the company posted a net loss of $87,000 in the same quarter last year. No word on how much stock you can get with your OpenTable points.
[Via San Jose Mercury News]
