OpenTable To IPO This Year

OpenTable, the popular restaurant reservation website, plans to raise as much as $48.3 million in an initial public stock offering that would make it the second US technology start-up to go public this year. Shares will be offered for $12 to $14. The company is selling 1.57 million new shares, while existing investors are selling 1.43 million. The four largest shareholders, venture capital firms led by Benchmark Capital, aren’t selling shares. OpenTable reported a loss of $1.02 million last year as it expanded into Europe. The company runs the OpenTable.com site and sells software that 10,645 restaurants use to manage their tables and keep track of clients’ preferences. (Boston)

Highlight: Sales rose 36 percent last year