Exit This Way
Another sexy startup has made it across the finish line, following in the fleet footsteps of Instagram. AllThingsD reports that the reservations platform OpenTable has shelled out $10 million to purchase Foodspotting. It ain’t a billion dollars, but it’s not too shabby given that the photo-based recommendations startup had raised $3.75 million in its three years of life.
IP Uh Oh
There has been plenty of talk in recent weeks about internet IPOs and the danger of trying to ride that roller coaster. Many stocks saw a huge rise on their first day or week, followed by a steep fall.
But over at Fortune, Kevin Kelleher points out that this kind of swing in momentum seems to effect tech stocks well outside the bubble.
He notes that New York based OpenTable, which went public in May of 2009, enjoyed a great climb to $118 in April of 2011. But over the last eight months the company has lost 67 percent of its value, settling at a little under $40.