As many of you know, Ohana is incorporated as a Benefit Corporation, a hybrid between a for-profit and a non-profit. One of the biggest B Corps, Etsy, the online craft bazaar, went public last week. This is a big milestone for benefit corporations such as Ohana that strive to make a positive impact on society while also creating sustainable businesses.
As reported in the New York Times: “The online craft bazaar Etsy made its debut on the Nasdaq stock market Thursday, signaling the birth of an unusual public corporation . . . Etsy is one of a growing number of companies, called B Corps, that pledge to adhere to social and environmental accountability guidelines set by a nonprofit organization called B Lab. And Etsy on Thursday became only the second for-profit company to go public out of more than 1,000 companies that have that certification. Etsy shares closed on Thursday at $30, almost twice their initial public offering price, in one of the most closely watched market debuts this year.” Read the full article here