January 14, 2015 / 12:50 AM / 4 years ago

Etsy, marketplace for handmade goods, to file for IPO: Bloomberg

(Reuters) - Etsy Inc, a global marketplace for handmade goods and crafts supplies, is planning an initial public offering that could take place as soon as this quarter, Bloomberg said, citing people with knowledge of the matter.

The e-commerce startup is working with Goldman Sachs Group Inc (GS.N) and Morgan Stanley (MS.N) on the IPO, Bloomberg said, quoting these people.

Bloomberg reported that Etsy may seek to raise about $300 million from the offering, citing one of the people.

A spokeswoman for Etsy declined to comment.

The company, headquartered in the Dumbo neighborhood of Brooklyn, New York, was founded in 2005. The closely-held firm, which employs 580 people and has listed 26 million items in total, recorded gross sales of $1.35 billion in 2013.

Etsy charges a 20-cent listing fee for each item listed and a 3.5 percent fee for sales completed on the website. The company’s revenue also comes from seller services including its advertising platform, payment processing and shipping labels.

Goldman Sachs and Morgan Stanley were not immediately available for comment after regular business hours.

Reporting by Sudarshan Varadhan; editing by Andrew Hay

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below