Etsy Closes Up 86 Percent On First Day Of Trading

TechCrunch

It turns out Wall Street investors like those homespun crafts. Etsy, the online marketplace for handmade goods, went public today. Shares opened at $31 on the NASDAQ, popping up 94 percent from the initial set price of $16 per share. The company closed its first day of trading at $30 per share, an 86% percent rise from its initial price.

The company raised over $287 million by selling 16.7 million shares before trading, valuing the company at nearly $1.8 billion. Stock went up close to $35 by mid morning. Etsy is now worth more than $3.5 billion.

The handmade crafts company is not yet turning a profit, but has seen year-over-year growth in revenue for the past few years, rocketing from $74.6 million in 2012, to $125 million in 2013 and to $195.59 million last year. It had 1.4 million active sellers and 19.8 million active buyers as of December.

The Challenged Craft

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