It is bound to happen eventually, right? A venture-backed company will break the drought and find an exit via IPO. Well, OpenTable filed with the SEC and is looking to raise up to $40MM in an initial public offering. If successful, OpenTable will be the first venture-backed IPO in several months.
There were only 6 venture-backed IPOs in 2008 and the common thought is that 2009 won’t do much better. So an early 2009 venture-backed IPO could bode well…but of course registering for an IPO doesn’t always mean the IPO goes through. At least 36 venture-backed companies cancelled their IPO plans in 2008.
As for OpenTable, I remember using its online restaurant reservation system in 2000 while living in San Francisco. Who knew I was an early adopter?