Shares of Etsy Inc.
rallied in the extended session Monday after two private-equity firms disclosed stakes in the online crafts site. Etsy shares jumped 8.7% to $12.30 after hours. In separate Securities and Exchange Commission filings, TPG Group Holdings and Dragoneer Investment Group said they bought stakes in Etsy. TPG reported a 4.3% stake and Dragoneer reported a 3.7% stake, and both said they have asked Etsy “to engage in discussions regarding strategic alternatives.” In response, Etsy Chief Executive Josh Silverman said the company is “reviewing our strategic and operational plans” while Etsy Chairman Fred Wilson said the board will “carefully consider all options to enhance shareholder value.”