Etsy, an online marketplace that specialises in crafts and other artistic items, plans to hold an initial public offering as soon as this quarter, sources tell Bloomberg.
The decade-old company may seek to raise about $US300 million, sources say, and is working with Goldman Sachs and Morgan Stanley.
CEO Chad Dickerson has said that the company has been profitable since 2009 and has raised $US91.7 million in funding over the years. Etsy’s main revenue comes from charging sellers $US0.20 to list a single item for four months, and then 3.5% of the value of the sale if an item sells. It also sells ads and processes payments. The site has more than 1 million active sellers, hawking about 26 million items.
In late 2013, Dickerson told Business Insider that the company hadn’t even considered an IPO yet and that it wasn’t feeling any pressure from investors.
If Bloomberg’s report proves true, Etsy could be the first major e-commerce company to go public in 2015. The industry raised $US29 billion in IPOs last year, Bloomberg reports, in large part because of Alibaba, which raised $US25 billion.
Etsy, which is based in Brooklyn, New York, declined to comment on the report.
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