Etsy prices IPO at $16 per share, valuing company at $1.78 billion

Fortune

Etsy has priced its initial public offering at $16 per share, a price that values the online marketplace at $1.78 billion. The price is the top end of the company’s proposed range. The company, known for selling handcrafted and vintage goods and apparel, will begin trading shares on Nasdaq tomorrow morning with the ticker symbol “ETSY.”

The company has taken the unusual step of setting aside a share participation program for its sellers.

As Fortune outlined earlier this month:

Etsy’s community of buyers and sellers is an important part of its success, so the company has made plans to reserve up to 5% of shares it is issuing in the IPO for individual investors. Morgan Stanley is executing the participation program, which allows users to invest as much as $2,500 each in the IPO.

Etsy does not earn a profit and its losses have widened in recent years…

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