Etsy takes the IPO route

It's official - Etsy, the online marketplace for handmade and vintage items has filed for an initial public offering at the US Securities and Exchange Commission. The filing comes weeks after speculation had been circulating that the firm aimed to launch an IPO and was hoping to raise up to 300 million dollars.

According to the regulatory filing from Wednesday however, the Brooklyn-based online company aims to raise 100 million dollars and will list on Nasdaq, under 'ESTY'. Reports state that the amount is most likely a placeholder for the IPO and will be used to calculate the registration fee. The filing also revealed that Etsy brought in 195.6 million dollars in revenue in 2014, with over half of the amount coming in from transaction fees from its community if 1.4 million sellers and 19.6 million buyers.

However, Etsy also posted a loss of 15 million dollars for 2014, which is a heft increase from its 800,000 dollar loss in 2013, which could pose as a warning sign to potential investors. The online marketplace added that operating expenses are expected to "increase substantially," as they take on additional employees, increase its marketing efforts and expand its operations, which may affect future profitability.