My financial analysis skills must be weak but how does a company take a loss every year yet also have $88M in the bank?
Presumably they had some profitable years prior to 2012 or have maintained limited losses.
Either way, it looks like they're gearing up for some big growth in the next few years. They dipped into the coffers in 2014 and will raise a lot of money from this IPO, so they'll have plenty of cash to burn on fast growth. It should be interesting to watch!
And now they're trying to raise an additional $100M via an IPO? It's not like Apple who are literally in the position of "We have so much money we don't know what to do with it."
Considering they all stand to make a bundle through the IPO I'm sure the investors are collectively not-annoyed that Etsy hasn't wasted their money.
How do you know they aren't going to use it?