Etsy shares gain 87.5% in their stock market debut

Etsy had a huge first day as a public company.

Shares of the online craft marketplace rose 87% in their trading debut on Thursday.

Etsy shares closed at $US30 after its IPO priced at $US16 per share on Wednesday night.

At the current share price, Etsy’s market cap is around $US3.3 billion.

The Brooklyn-based company generated $US195.6 million in revenue in 2014, up 56.4% from $US125.02 million in 2013, according to its filing with the Securities and Exchange Commission.

The company had been described as running an “artisanal IPO process for reportedly seeking small investors who share its commitment to “socially responsible business practices.”

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