Etsy (ETSY) Files $100 Million IPO
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Etsy (Nasdaq: ETSY) filed a Form S-1 with the U.S. SEC for a $100 million initial public offering of its common stock. The company plans to list on the NASDAQ under the symbol
Goldman Sachs, Morgan Stanley, and Allen & Company are leading the deal.
According to the SEC filing: Etsy operates a marketplace where people around the world connect, both online and offline, to make, sell and buy unique goods. Handmade goods are the foundation of our marketplace. Whether crafted by an Etsy seller herself, with the assistance of her team or with an outside manufacturer in small batches, handmade goods spring from the imagination and creativity of an Etsy seller and embody authorship, responsibility and transparency.
Etsy was founded in June 2005 in Brooklyn, New York as a marketplace for handmade goods and craft supplies. From those beginnings, they have built an innovative, technology-based platform that, as of December 31, 2014, connected 54.0 million members, including 1.4 million active sellers and 19.8 million active buyers, in nearly every country in the world. In 2014, Etsy sellers generated GMS of $1.93 billion, of which 36.1% came from purchases made on mobile devices and 30.9% came from an Etsy seller or an Etsy buyer outside of the United States.
In 2014, Etsy sellers generated GMS of $1.93 billion, up 43.3% over 2013. In 2014, they generated revenue of $195.6 million, up 56.4% over 2013. In 2014, they 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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