Etsy shares have more than doubled (ETSY)

Etsy Office

Etsy has gone public.

Shares of the online marketplace for handcrafted goods opened at $31 a share, nearly double the pricing Wednesday night at $16.

Near 10:55 a.m. ET, shares were trading at $34.30, up about 114%.

After the offering, the total number of shares outstanding will be 110.9 million. Based on the opening price, Etsy is valued at over $3.7 billion.

The Brooklyn-based company generated $195.6 million in revenue in 2014, up 56.4% from $125.02 million in 2013, according to its filing with the Securities and Exchange Commission.

According to the filing, Etsy had planned to sell 16.7 million shares at a price range between $14 and $16.

The company had been described as running an ‘artisanal IPO‘ process for reportedly seeking small investors that share its commitment to “socially responsible business practices.”

This post will be updated as the stock comes to market.

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Etsy shares have more than doubled (ETSY)

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