Etsy (ETSY) IPO Opens Up 94%

Today's IPO for Etsy (Nasdaq: ETSY) opened for trading at $31 after pricing 16,666,666 shares of its common stock at a price to the public of $16 per share, the high end of the expected $14-$16 range.

Etsy is offering 13,333,333 shares and selling stockholders are offering 3,333,333 shares.

Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering. Allen & Company LLC, Loop Capital Markets LLC and The Williams Capital Group, L.P. are acting as co-managers.

Etsy is a marketplace where millions of people around the world connect, both online and offline, to make, sell and buy unique goods. The Etsy ecosystem includes entrepreneurs who sell on our platform, consumers looking to buy unique goods in our marketplace, manufacturers who help Etsy sellers grow their businesses and Etsy employees who maintain our platform.

In 2014, Etsy sellers generated GMS of $1.93 billion, up 43.3% over 2013. In 2014, the company generated revenue of $195.6 million, up 56.4% over 2013. In 2014, the company generated a net loss of $15.2 million and Adjusted EBITDA of $23.1 million compared to a net loss of $0.8 million and Adjusted EBITDA of $16.9 million in 2013.

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