Business, Ecommerce

NY Based Ecommerce Site Etsy Files to Go Public; Aims to Raise $100M

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New York-based, e-commerce website for handmade goods, Etsy has filed a S1 form to go public and is aiming to raise at least $100 million. The amount it intends to raise can be more than, but that’s the number given for now.

Founded in 2005, Etsy is a website that focuses on handmade and vintage items, as well as art and craft supplies. The items include art, photography, clothing, jewelry, edibles, quilts and toys. The company charges users a flat listing fee and takes a commission of 3.5 percent off all items sold.

The firm had raised a total funding of $97.3 million in 8 rounds from 14 investors. In May 2014, Etsy had secured $5.6 million. Also, it had acquired 5 companies including A Little Market, Grand St., Trunkt, Adtuitive and Lascaux Co.

The company’s revenue expanded from $74.60 million in 2012, to $125 million in 2013, to a 2014 tally that totaled $195.59 million. It claims to have 1.4 million active sellers on the site, with 19.8 million active buyers. Accel and Union Square Ventures are the shareholders of the company right now, respectively holding 27 percent and 15 percent of total shares.

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