Handmade Goods Website Etsy Sees Shares Soar in Debut


Shares of Etsy Inc, an online marketplace for handmade goods and craft supplies, more than doubled in their debut on Thursday, valuing the company at about $3.83 billion.

The company’s initial public offering of about 16.7 million shares raised about $267 million, after it was priced at the top end of the expected range of $14-$16.

New York-based Etsy sold 13.3 million shares in the offering, while stockholders including venture capital firms Accel Partners, Index Ventures, Union Square Ventures and Acton Capital sold the rest.

The stock opened at $31 and touched a high of $34.54 on the Nasdaq.


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