Etsy expects IPO to raise as much as $267 million
NEW YORK (AP) — Online crafts retailer Etsy says it expects to raise as much as $267 million in an IPO that would value the company at more than $1 billion.
The New York company says its initial public offering will include 16.7 million shares, and it expects them to price at $14 to $16 each.
Etsy said Tuesday in a regulatory filing that it was selling 13.3 million shares. The other 3.3 million shares are being sold by company stockholders. If the shares price at $16, Etsy's market value would be $1.78 billion.
Etsy reported $195.6 million in revenue in 2014. It says almost 20 million people made at least one purchase through its site last year.
Etsy Inc. filed for an IPO in January.