Brooklyn News Startups

Clean and Crafty Etsy Prepares To Exit Via IPO

Etsylogo Clean and Crafty Etsy Prepares To Exit Via IPOThe entire startup and tech world is watching closely as Etsy has filed to go public and raise $100 million dollars on the Nasdaq.

Several analysts have agreed that this will value Etsy, the Brooklyn born craft marketplace, between $1 and $2 billion dollars. Many analysts feel it will be closer to $2 billion.

By the numbers all Etsy needs is a valuation of $1.4 billion at IPO to beat out New York’s largest tech exit which was OnDeck Capital. OnDeck went public in 2014 at a valuation of $1.32 billion, out doing Tumblr’s acquisition by Yahoo for $1.1 billion the previous year.

Etsy is a marketplace website similar to ebay where creators pay 20 cents to sell their products on the website and then after the product sells Etsy takes another small percentage. All those crafts and fees add up though as the company did $195.6 million in revenue in 2014. Not too shabby for an online crafts fair.

CBN Insights reported, via tweet, that Etsy is quite the clean tech company as well.

“We eat on compostable plates, and employees sign up to deliver our compost by bike to a local farm in Red Hook, Brooklyn where it is turned back into the soil that produces the food we enjoy together”. In case you were wondering Etsy employs over 600 people.

Etsy has proven that there is a substantial market for home made items even in the tech world.