Etsy, the US-based peer-to-peer e-commerce company backed by media company Hubert Burda, is preparing a $300m initial public offering, Bloomberg reported yesterday, citing people familiar with the matter.
Etsy operates an online marketplace for vintage and handmade clothing and goods. It charges a flat $0.20 fee for each listing, as well as a 3.5% commission on the sale price.
Hubert Burda participated in Etsy’s $27m series D round in 2008, as well as its $20m series E round in 2010 and a subsequent $40m round in 2012.
Etsy has raised almost $92m in venture funding since it was founded in 2005, and its other investors include Union Square Ventures, Index Ventures and Accel Partners.
The company has reportedly been in talks with Goldman Sachs and Morgan Stanley over the IPO, and expects to release a prospectus later this month.