It looks like Etsy’s valuation is closer to $4 billion

Shares of Etsy, an online marketplace for handmade goods and crafts, more than doubled in their debut on Thursday, valuing the company at about $4 billion. The company’s offering of about 16.7 million shares raised about $267 million, after it was priced at the top end of the expected range of $14-$16. “There is demand within the niche they operate in for unique handcraft and vintage goods,” Wedbush Securities analyst Gil Luria said, starting coverage with a “neutral” rating. Brean Capital started with a “buy” rating, citing Etsy’s “differentiated products” and popularity on social networks such as Facebook. Etsy’s shares were up more than 80 percent at $29 in midday trading. The stock, which was the top percentage gainer on the Nasdaq, opened at $31 and touched a high of $35.74.