Etsy Files for IPO
Etsy, the online retailer of often zany homemade goods, filed for an initial offering yesterday and said it hopes to raise $100M toward its debut. The Brooklyn-based company was founded 10 years ago and made real estate headlines in 2013 with the news that it would anchor Kushner Companies' blockbuster Dumbo Heights development. Etsy could begin trading on the Nasdaq stock market as early as mid-April. It reported $195.6M in sales, up a whopping 56% from the previous year.
The company will likely grow from its current 685 employees before moving into 200K SF at Kushner's tech-centric Dumbo campus.