BROOKLYN, NY - Etsy, Inc., the online market popular for selling custom woodwork and other goods, filed for a public stock offering with the U.S. Securities and Exchange Commission. In its filing, Etsy revealed that it did $200 million in sales last year and has 1.4 million sellers who generated over $1.9 billion in sales.
A search for "wood furniture" at Etsy.com returns over 60,000 results of items for sale, including a hand-crafted dining room table and chair set for $700, and a solid cherry wood side table for $695.
Etsy, which earns money by taking a percentage of each transaction made through its site, also revealed that its financial services and other business plans will become an increasingly important part of its revenue stream.
In October 2014, Etsy offered an inkling of its intentions to deepen its financial services, adding a utility for its sellers to accept credit cards in person - a bit like Square. This moved it from virtual operations to physical world sales.
Etsy also intends to connect its sellers, who generally make or craft on a small scale, with larger production facilities that can produce volume levels for products that take off.
"Because of advances in manufacturing technologies, individuals and small businesses now have the ability to manufacture goods in their homes and studios using tools such as computer-assisted design, 3D printers, computer-controlled routers and other machines at a fraction of the historical cost," Etsy said in its filing. "We believe the decrease in the size and the cost of these tools will make it easier for creative entrepreneurs to start new businesses. We also believe that small-batch manufacturers will be able to use these new technologies to provide high-quality manufacturing services so that creative entrepreneurs can scale their own businesses."
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