ETSY seeks $300 million in upcoming IPO

Jaybird · March 5, 2015

Etsy is a peer-to-peer (P2P) e-commerce website focused on handmade or vintage items and supplies, as well as unique factory-manufactured items under Etsy's new guidelines, released in October 2013. These items cover a wide range, including art, photography, clothing, jewelry, food, bath and beauty products, quilts, knick-knacks, and toys. Many sellers also sell craft supplies such as beads, wire and jewelry-making tools. All vintage items must be at least 20 years old.^[3] The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of US$0.20 per item.^[4] As of August 2013, 30 million users are registered on the website and by the end of 2013, projections of one million sellers and over US$1 billion in total annual transactions have been announced.^[1] At the end of 2014, Etsy had 685 employees.
~Wikipedia

(Bloomberg) -- Etsy Inc. is about to show Silicon Valley that Brooklyn’s hipsters can also do initial public offerings.

The website where people sell handmade crafts and vintage goods may be the biggest technology IPO to come out of New York since 1999. Etsy, which offers items such as a $529 turquoise 1957 Royal Quiet De Luxe typewriter, is working on an IPO that could take place as soon as this quarter, people familiar with the matter said. The company is looking to raise $300 million, one person said.

Source: http://www.bloomberg.com/news/articles/2015-01-13/etsy-said-to-target-u-s-ipo-of-craft-marketplace

Reports say that the IPO date will be some time in Q1 of this year but an official date has yet to be announce. From what i have gathered, this will end up looking similar to other websites that went IPO such as Facebook and Twitter, where the IPO price was inflated and ultimately dropped in the first day. This has potenial for a quick get in get out profit, reports also say a similar company had done well in their IPO generating about $25 million.