OpenTable is an online reservation system for restaurants that started eleven years ago.  Thus far about 90 million table reservations have been made on OpenTable.  They have filed an S-1 with the SEC indicating that they are ready to go IPO.  OpenTable is hoping to raise $40 million from the IPO and wants their stock to be listed under the NASDAQ.  Merrill Lynch is bookrunning the deal.

The company has made $41.3 million in revenues based on the first 9 months of 2008.  This is a 41% increase from the year before.  Revenue is generated by restaurants that pay subscription fees (54%) and reservation fees (42%) that show up through the system.  Installation fees generate 4% of OpenTable’s revenues.

Through the IPO, OpenTable is hoping to raise an additional $40 million.  Between 1999 and 2000, OpenTable raised about $48 million in VC funding.  Fortunately former eBay executive Jeff Jordan was able to street the company through the bubble and make it as far as IPO.  When a web 1.0 company makes it this far, you just have to commend it.

[via CN and TC]