Etsy set for $267M IPO
Published 12:00 am Thursday, April 16, 2015
Online shopping marketplace Etsy is scheduled to go public today, raising as much as $267 million in the technology industry’s third major initial public offering of stock this year.
Etsy’s debut on Nasdaq is being closely followed in the tech world for a number of reasons.
The decision to go public has led to fresh scrutiny about whether the trinkets, clothing and other craft goods that people sell on Etsy are truly homemade. The small-scale approach has been Etsy’s crucial separator from eBay, Amazon and other online services.
Tech IPOs have also slowed down compared with a booming 2014 that included the stock market debuts of Alibaba, GoPro and GrubHub.
Etsy’s revenue came in at $196 million in 2014, more than doubling from $75 million in 2012. But it’s still not profitable. The net loss was $15 million in 2014.
Etsy was pricing its shares at $14 to $16, which would value the company as high as $1.78 billion.