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Etsy share price nearly doubles in first day of trading

Etsy share price nearly doubles in first day of trading

Online shopping marketplace Etsy pinned a positive start to its story as a public company, witnessing a near-doubling of its share price during a Nasdaq debut Thursday. Shares of Etsy closed at $30, up 87.5% from its initial public offering price of $16 a share. The company's value soared to about $3.4 billion, falling in between the likes of hardware maker Logitech International and fellow e-commerce service Groupon Inc. Etsy, which connects makers of handcrafted goods to buyers, is expected to use the $213 million that it received from the IPO to expand its worldwide audience of about 20 million buyers. But the Brooklyn company now will face pressure from public investors: It...

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