Etsy Logo (Photo : Facebook)
Handmade goods and products giant Etsy, has announced its next share to be priced between $14 to $16 dollars.
Accoding to Reuters, the company currently has over 1.4 million of active sellers and 19.8 million of active buyers, making it a huge favorite in the share market right now.
Etsy takes venture from companies like Accel Partners, Index Ventures, Union Square Ventures and hedge fund Tiger Global Management; these companies are the companies which are involved in the majority of funding for Etsy.
Opening the website of Etsy, the users will come across at least 29 million items which are listed there, and it charges 20 cents per each listing it has on its website. In addition to the listing fee, Etsy also takes 3.5 percent of the price for every sale which an item makes. And it does not stop with this, it make further profits from its advertising platform, payment processing and also shipping labels.
Tech Crunch reported that the ticker symbol for Etsy will be ETSY. The company has also said that in its roadshow, in which the top officials of the company travel across the globe to strike a chord with potential stock buyers, will begin from tomorrow onwards.
The company was founded in 2005 and had initially anticipated to raise $100 million at the IPO. Etsy has literally triple its profits over these year and continues to go on a steep slope of success and power.
