OpenTable (NASDAQ:OPEN) enjoys a premium valuation for its unique business model which derives revenue from online reservations and subscriptions. However, recent announcements of Apple filing a patent application for a cloud-based platform which will include restaurants reservations worried the investors and led OpenTable’s stock price stumbling down $79.80 to $76.42. This along with the recent acquisition of SeatMe-OpenTable’s competitor, by Yelp (NYSE:YELP) , the online restaurant reviewer, has resulted in growing concerns among OpenTable investors. Will OpenTable survive its near-monopoly in online reservations amid growing competitors remain to be seen. We look at how OpenTable works and its growth prospects ahead.