Etsy the 10-year-old US arts and crafts website, made its debut on the US market this week, with shares surging 88% on the first day of trading, valuing the company at around $3.3 billion (£2.2 billion).
The company marked its shares at $16 which is more than expected thanks to investor interest, and they reported that customers spent around £2 billion worth of goods last year.
Commenting, boss Chad Dickerson said: "The investors we met on the roadshow understand that the key to Etsy's long-term success is building on and extending what has made Etsy successful to date: an inspired community of creative entrepreneurs, buyers who want to buy unique merchandise that they can't find anywhere else, and a values-led community-based business that focuses on the long term."
