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Vintage goes digital: Etsy sets terms for $250 million IPO

March 31, 2015
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Etsy, which operates an online marketplace for handmade or vintage items, announced terms for its IPO on Tuesday.

The Brooklyn, NY-based company plans to raise $250 million by offering 16.7 million shares (20% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Etsy would command a fully diluted market value of $1.8 billion.

If Etsy raises the proposed $250 million, it would be the largest technology IPO from a New York-based company since barnesandnoble.com was spun off of the national book retailer in May 1999.

Etsy, which was founded in 2005 and booked $196 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol ETSY. Goldman Sachs, Morgan Stanley and Allen & Company are the joint bookrunners on the deal. It is expected to price during the week of April 13, 2015.