Hip online firm Etsy to make Wall Street debut

New York

CULTURES will clash this week as Etsy, the online marketplace known for artisan goods and strong social values, makes its Wall Street debut.

Etsy is expected to raise between US$233 and US$307 million in its initial public offering (IPO) to be priced on Wednesday, which would push its valuation as high as US$1.78 billion.

The stock is set to trade on the Nasdaq market on Thursday under the symbol "ETSY". Etsy, a Brooklyn-based firm which was founded in 2005 and pegs itself as the "antidote to mass manufacturing" by selling handmade and vintage goods, says hitting the stock market won't mean selling its soul.

"I intend to keep our unconventional operating philosophy as we become a public company," said chief executive Chad Dickerson in a letter included with the Etsy regulatory filing. "We eat on compostable plates, and employees sign up to deliver our compost by bike to a local farm in Red Hook, Brooklyn, w…