Deals
Etsy Surges in Debut After Craft Marketplace’s $267 Million IPO
Etsy Seeking Value Eight Times Its 2014 Revenue
This article is for subscribers only.
Etsy Inc., the website founded a decade ago by a carpenter looking to sell wooden computers, nearly doubled in its trading debut after raising $267 million in an initial public offering.
A marketplace for handmade and vintage goods, Etsy opened up 93 percent at $31 at 10:49 a.m. in New York. The Brooklyn-based company and some of its backers sold 16.7 million shares for $16 apiece. Another highly watched IPO, by Virtu Financial Inc., is also expected to start trading Thursday. Like Etsy, Virtu priced its shares at the top of the marketed range.