OpenTable (OPEN) is a real company and the first VC-backed IPO in three quarters and one of only a handful in nearly two years. OpenTable is also trading at its low because of pressure from the usual insider selling in a small float and will soon be the falling knife that is the rest of the recent VC-backed IPOs.
Half of the bankers are gone. Let’s see if the VCs adjust their model when half of them are gone.
