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Etsy Sellers Market in Times Square celebrating Etsy’s celebration going IPO at Nasdaq on April 16, 2015 in New York City.
Paul Zimmerman | Getty Images
Activist investor Elliott Management has a “sizable” investment in e-commerce firm Etsy, which announced on Thursday that Elliott partner Marc Steinberg would join the company’s board.
The activist investor has built a roughly 13% position in the stock, a person familiar with the matter told CNBC.
Etsy shares shot up more than 10% on the news. Elliott and Etsy have been meeting for a few months, CNBC’s David Faber said.
The e-commerce company’s stock is down about 10% year-to-date.
This is a developing story. Please check back for updates.
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