Today, Etsy gave a few more key details about its upcoming initial public offering.
The company, which is known for its marketplace for handmade and vintage objects and plans to trade on NASDAQ under the ticker symbol “ETSY,” said today that its expected IPO price will be between $14 to $16 a share. This puts Etsy’s valuation between $1.55 billion and $1.77 billion.
Etsy also said that its roadshow, which is the time that a company’s executives and bankers travel to potential stock buyers to gin up interest in the IPO and often secure early sales, is slated to begin tomorrow.
Etsy, which was founded in 2005, initially said it planned to raise up to $100 million in the IPO — that was likely a boilerplate figure in its regulatory documents, since today’s update has tripled its maximum offering price to $300 million. The company officially signaled its intent to go public a few weeks back on March 4, when it filed an S-1 with the Securities and Exchange Commission. You can read more in-depth analysis of Etsy’s planned IPO and its financials here.