Some big news today for the NYC tech community. According to TechCrunch, Etsy recently raised $20M at a pre-money valuation of just under $300 million. That’s a big number. Other noteworthy stats from the article include that the company is profitable, on-track for $30-50M in revenue this year, and expects to do $400M in gross transactions this year and $1B next year. In my opinion, from a valuation perspective at least, this places Etsy among the ‘elite’ private tech companies in the country. It’s nice to see the newest addition to the ‘elite’ list coming from my new backyard (Brooklyn).
This is also good news for SkillSlate team member and former Etsy employee, Kelly, and her fiance Chris, who is an Etsy co-founder. Despite this not being a liquidity event, it has to be nice to see the massive valuation jump.