Online craft market Etsy files for IPO

Etsy, the online marketplace for handmade goods, has filed for a stock offering to raise at least $100 million.

Amid a flood of investment in , Etsy filed the papers for its Wednesday with the Securities and Exchange Commission.

Founded in 2005, Etsy reported revenue last year of $195 million, and a loss of $15 million. It had some 685 employees at the end of 2014.

The stock will trade under the symbol "ETSY," according to the documents, which included no date or pricing.

Last year, Etsy bought French-based rival "A Little Market" as part of a global expansion effort.

Etsy has raised funds from venture firms including Union Square Ventures.

Based in Brooklyn, New York, Etsy describes itself as an online market to "discover handmade items, vintage goods and craft supplies you can't find anywhere else," matching artisans and sellers with consumes


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© 2015 AFP

Citation: Online craft market Etsy files for IPO (2015, March 5) retrieved 11 April 2021 from https://phys.org/news/2015-03-online-craft-etsy-ipo.html
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