DUMBO’s Etsy Goes Public
You've probably heard the news that Etsy went public last week, and that it was a great success! But did you hear its been called the largest IPO ever for a venture-backed, New York-based start-up? They sold more than 13 million shares, raising $267 million on the day it went public!
Going public represents a significant expansion of the Etsy community, but according to Etsy's CEO Chad Dickerson, it's not going to change how the company operates. In keeping with the Etsy spirit, the company targeted smaller investors, made shares available and even invited Etsy sellers to ring the Nasdaq opening bell!
Since its inception a decade ago, Etsy has built a solid base of about 1.5 million active sellers and close to 20 million buyers. Its revenue has grown steadily, reaching more than $195 million last year. As of December, the Etsy app had been downloaded 22 million times.
We're proud of this beloved DUMBO-based company -- a billion-dollar tech IPO for a Brooklyn company, and the largest B-Corporation to boot!
Image via NASDAQ.