Etsy company launched an IPO with a stock price of $ 16 apiece
The Etsy service, which acts as an intermediary between the creators of copyright products and buyers of such things, went on an IPO on Thursday. The company issued 16.7 million shares at $ 16 apiece, Businessinsider reports . Thus, the value of the company's shares reached the maximum forecast figure, which was previously shown in the range of 14-16 dollars per share. At this share price, the total value of Etsy is $ 1.78 billion.
According to the management, the company will use the funds received from the IPO for the development of corporate business, including ongoing investments in the growth of Etsy business. In addition, $ 300,000 will be used to partially fund Etsy.org, which was launched earlier this year.
Etsy is a company that has been operating for ten years. Last year, the company's revenues amounted to $ 195.6 million, 56.4% higher than in 2013. At the same time, the company is still not profitable. This year, the company hopes to receive revenue of $ 250 million.
According to the management, the company will use the funds received from the IPO for the development of corporate business, including ongoing investments in the growth of Etsy business. In addition, $ 300,000 will be used to partially fund Etsy.org, which was launched earlier this year.
Etsy is a company that has been operating for ten years. Last year, the company's revenues amounted to $ 195.6 million, 56.4% higher than in 2013. At the same time, the company is still not profitable. This year, the company hopes to receive revenue of $ 250 million.
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Source: https://habr.com/ru/post/289676/
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