Hrm, that's a bit of a red flag to me. Why bother raising so much money if you're not going to utilize it? Surely growing your business will outpace average annual investment returns. I'm sure the investors have to be annoyed they basically just transferred their assets to Etsy to sit on and not utilize.

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."