Etsy Launches IPO, Scores $1.78B Evaluation with Social Mission as Key Business Strategy - The Minute

The question about bottom line results in companies that try to balance profits with a social mission just got a $1.78 billion answer. That’s the evaluation of Etsy, the online seller of artisan goods and a certified B Corp company, after launching an IPO late last week on NASDAQ. Shares closed at $30 dollars, almost twice their initial price of $16 dollars. In an unusual IPO restriction, Etsy capped the value of stock that investors could buy at $2,500, to give access to as many investors as possible, including the small businesses that market their products through Etsy. Certified B Corp status is earned by following ESG guidelines set by B Lab, a nonprofit organization. Etsy’s B Corp practices include offering employees stock options and paid volunteer time, paying part-time workers fees that are 40 percent above local living wages, and teaching local women and minorities programming skills.

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