The popular online marketplace for homemade crafts, arts, and jewelry, Etsy Inc, filed for an initial public offering recently.
 
The company wants to raise $100 million from the IPO; however, the filing with the U.S. Securities Exchange Commission did not reveal how many shares the company planned to sell or their expected price.
 
Etsy will list on the Nasdaq Global Select Market under the ticker symbol “ETSY.” Goldman Sachs (GS), Allen & Co LLC, and Morgan Stanley (MS) will be underwriting the IPO.
 
Approximately 1.4 million people use the website to sell homemade items. The company also has an app available for download for free on iOS and Android devices.
 
Most of Etsy’s revenue comes from sellers, who have to pay a 20-cent fee to list items, as well as a 3.5% fee for each completed sale. Sellers can also pay more for a promoted listing.
 
Last year, the company earned $196 million in revenue, up 56.4% from 2013, as well as grossed $1.93 billion in merchandise sales, but took a loss of about $15 million, according to documents filed with the SEC.
 
Etsy is based in Brooklyn, NY, and was founded in 2005. The company employs 685 people and currently has 29 million items listed on its website.
 
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