Etsy Reports October Sales, Expects $40 Million in 2010 Revenue

Etsy reported that $29.9 million of goods were sold on the site in October, up 69% year-over-year. Unit sales were up 57% year over year to 1.67 million. There were 322,466 new members, 2.45 million new items listed, and page views were up 38% year-over-year to 842 million.

Etsy founder and CEO Rob Kalin told Bloomberg last month that the company's revenue was $15 - $20 million in 2009, and that he expected revenue of around $40 million in 2010.

When asked if Etsy was planning on going public with an initial public offering (IPO), Kalin said, "To me, I like the idea of community ownership. I think that the company is part of the larger community - 5 million members. The only reason an IPO interests me at all is to be community owners. I have no interest in having people on Wall Street determining the value of my company." He then went on to say the timing of an IPO was about 3 - 4 years out.