Etsy Preparing for IPO

Etsy, the online marketplace for handmade and vintage products, is going public. Etsy filed the necessary paperwork with the SEC in early March after months of rumors.

The Brooklyn-based company, founded 10 years ago, had sales of $195.6 million last year — up 56% from 2013 — and a wider loss of $15.24 million (it has yet to make a profit). It says it has 1.4 million active sellers and 19.8 million active buyers.

In an announcement today, the company said it would sell 16 million shares and expected the initial public offering to be between $14.00 and $16.00 per share, which could raise as much as $266.7 million.