Priceline To Buy OpenTable For $2.6 Billion

An anonymous reader sends this news from Bloomberg: Priceline Group Inc. stepped up its acquisition spree by buying OpenTable Inc. in a deal valued at $2.6 billion, adding restaurant bookings to an online travel business already spanning flights, hotels and cars. The all-cash offer of $103 per share for the popular Internet restaurant reservation company is 46 percent higher than OpenTable's closing price yesterday. The deal is expected to be completed in the third quarter, the companies said in a statement today. Priceline is buying a company that seats over 15 million diners per month across more than 31,000 restaurants via online bookings.

In a Bubble

[organgtool]

At this point, I think it's safe to say that we're in another tech bubble. But at least we can have fun seeing which bubble bursts first (HFT, medical, student loan, or tech).

Bubble bubble...

[ErichTheRed]

The last dotcom bubble left us with huge amounts of equipment, dark fiber and Aeron chairs. I wonder what we're going to get out of this one?

It's a shame to see it happening again, but I guess I'll just sit back and watch like I did last time. I still wonder why I don't jump in and make my millions at the right time during these bubbles, but whatever....

Uber, Lyft, WhatsApp, Twitter and now OpenTable are going to be the next pets.com, boo.com and webvan.com.