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Etsy Readies IPO, Aims for $300M

Crafts site could go public this quarter: Bloomberg
By Matt Cantor,  Newser Staff
Posted Jan 14, 2015 12:40 PM CST
Etsy Readies IPO, Aims for $300M
This photo provided by Jenny Chapman shows Chapman's "bubble button bib" necklace, which she sells at Jenny's Trinket Shoppe online at Etsy.   (AP Photo/Jenny Chapman)

(Newser) – A company launched because there was nowhere else to sell wooden computers is now preparing an initial public offering. Etsy's IPO could take place this quarter, insiders tell Bloomberg, and the craft-selling website is looking to raise $300 million in the effort. It could be the largest New York City–based tech IPO this century. Etsy began when craftsman Rob Kalin couldn't find anywhere to sell handcrafted computers. A decade later, it's joined forces with Goldman Sachs and Morgan Stanley to develop the IPO. The company, now run by ex-Yahoo exec Chad Dickerson, has been valued at more than $1 billion, Bloomberg notes. (Read more Etsy stories.)

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