OpenTable, the online restaurant reservation service, has filed with the Securities and Exchange Commission that it is seeking an initial public offering with a price of between $12 and $14, the San Jose Mercury News reports. The company said that based on $13 per share, its expecting to reap about $16 million from the offering.
San Francisco-based OpenTable turned a profit in the first quarter in the face of a recession that has hit the company’s clients -- restaurants -- especially hard. The company made $366,000, which is an increase from a year earlier, when it lost $87,000.
OpenTable charges restaurants an one-time registration fee and takes a share of bills that were a result of OpenTable reservations. If the IPO happens, it will be the first Silicon Valley offering since ArcSight went public in February 2008.
The company is seeking the NASDAQ ticker symbol OPEN.
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