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NEWS
Report: Etsy looking at Q1 IPO to raise $300 million
Online goods marketplace Etsy Inc. is looking to raise $300 million in a first quarter IPO, according to a report from Bloomberg.
Founded in 2005, the company focuses on handmade and vintage items, as well as art and craft supplies. Items available on the Etsy site include art, photography, clothing, jewelry, edibles, quilts, and toys. Modelled on open air craft fairs, Etsy charges users a flat listing fee of 20 cents per item, and takes a commission of 3.5 percent off all items sold.
Investors include Index Ventures, Union Square Ventures, Accel Partners, Hubert Burda Media and others who have invested $97.3 million into Etsy over eight rounds. The valuation of the company is undisclosed but is beleived to be in excess of $1 billion.
Etsy’s has 43.9 million members, 1.2 million active shops, 26 million items listed for sale and grossed $1.35 billion in sales in 2013, according to its own figures. Headquartered in New York City, it 550 employees can be found in offices in Melbourne (Australia,) Dublin, London, Paris, Berlin, Hudson (New York,) Toronto and San Francisco.
It competes in the boutique market space that includes Fab Inc. and Gilt Groupe Inc., both of who have been rumored to be considering IPO’s in the past.
The Etsy IPO, if it comes to fruition, will be the first major tech IPO of 2015.
Etsy declined to comment on the report.
Image credit: allthingsd.
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