Investment firms TPG Group Holding Advisers Inc and Dragoneer Investment Group LLC jointly reported an 8 percent stake in Etsy Inc (ETSY.O), the Brooklyn-based online retailer of handmade goods, Etsy disclosed in filings on Monday.

The disclosure comes just weeks after activist hedge fund Black and White Capital LP, which owns roughly 2 percent of Etsy, urged the company to explore a potential sale. Etsy’s shares have fallen more than 30 percent since their initial public offering (IPO) two years ago.

Etsy shares jumped more than 8 percent in after-hours trading to $12.30.

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