eToys Goes Public and Completes Its Initial Public Offering

FILED PURSUANT TO RULE 424(b)4 REGISTRATION NO. 333-72469 8,320,000 Shares ETOYS INC. Common Stock ------------------ This is an initial public offering of shares of common stock of eToys Inc.

All of the 8,320,000 shares of common stock are being sold by eToys.

Prior to this offering, there has been no public market for the common
stock. The common stock has been approved for quotation on the Nasdaq National Market under the symbol "ETYS".

SEE "RISK FACTORS" BEGINNING ON PAGE 8 TO READ ABOUT FACTORS YOU SHOULD CONSIDER BEFORE BUYING SHARES OF THE COMMON STOCK.

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NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY BODY HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Per Share Total
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Initial public offering price... $ 20.00 per share
Total $ 166,400,000

Underwriting discount.... $ 1.35 per share
Total $ 11,232,000

Proceeds, before expenses, to eToys...$ 18.65 per share
Total $ 155,168,000


In connection with this offering, the underwriters have reserved up to 1,365,000 shares of common stock being sold by eToys for sale at the initial public offering price to directors, officers, employees and friends of eToys.

The underwriters may, under specific circumstances, purchase up to an additional 1,248,000 shares from eToys at the initial public offering price, less the underwriting discount.

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GOLDMAN, SACHS & CO.

BANCBOSTON ROBERTSON STEPHENS

DONALDSON, LUFKIN & JENRETTE

MERRILL LYNCH & CO.

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Prospectus dated May 19, 1999.

The eToys IPO did not open until after noon on Thursday. It made up for its late start by soaring as high as $85 in its opening minutes of trading after pricing at $20 a share.

Although selling pressure pared the price back to $72 in the late afternoon, the stock rebounded to close at $76.56, up $56.56, or 283 percent, from its offering price.