Etsy 2015 Annual Report Download - page 39

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Please find page 39 of the 2015 Etsy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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The following graph shows a comparison from April 16, 2015 (the date our common stock commenced trading on Nasdaq), through December 31, 2015, of
the cumulative total returns for our common stock, the Nasdaq Composite Index and the Russell 2000 Index. The graph assumes $100 was invested at the
market close on April 16, 2015 in the common stock of Etsy, Inc. Such returns are based on historical results and are not intended to suggest future
performance. The Nasdaq Composite Index and Russell 2000 Index assume reinvestment of any dividends.


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