In an age of algorithms, 3-D printing, and any number of other technical advancements, a company that builds itself around the idea of bringing out the human element in commerce may seem doomed to the small-time.
Fortunately, that’s not always the case–with the biggest case in point being Etsy, the online homemade arts-and-crafts marketplace, which launched in 2005 and has gone on to claim more than 1 million active sellers from dozens of different countries.
Having raised $91.7 million in 2014 alone, Etsy is now apparently working on an initial public offering, Bloomberg reports, citing people familiar with the matter. This public offering could take place as soon as the first quarter of this year, with the Brooklyn-based company looking to raise $300 million.
If successful, it will be the biggest IPO for a New York-based tech company since 1999, during the madness of the dotcom bubble. Unlike many of the companies swept along in that feeding frenzy, however, Etsy has an established business. It has turned a profit since 2009, thanks to its business model of charging sellers 20 cents per product listing, and claiming 3.5% commission from every item sold. The company also brings in money through advertising and payment processing.
Bloomberg reports that Etsy is working with Goldman Sachs and Morgan Stanley on the IPO.