Etsy, the Brooklyn-based online retailer that makes it easy for people to market and sell their handmade goods, is going public. The company filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on Wednesday and will trade under the symbol ETSY. Founded in 2005, the company is looking to raise $100 million.
According to the document filed with the SEC, Etsy had 1.4 million sellers as of December, and 19.8 million active buyers. In 2014, the company recorded $108.7 million in revenue.
Under “Risk Factors,” the company writes that it has “a history of operating losses and we may not achieve or maintain profitability in the future.” The company incurred net losses of $15.2 million in 2014, and has accumulated a deficit of $32.4 million.
As we reported previously, on paper, it could be the biggest IPO for a New York-based technology company since 1999. Etsy’s business model, which charges sellers 20 cents per listing (and scrapes 3.5% off from every item sold) is said to have made it profitable from 2009 onward.
Here’s Etsy CEO Chad Dickerson on how he stays productive: