F-22

Etsy, Inc.

Type	Public
Traded as	NASDAQ: ETSY
Key people	Josh Silverman (CEO)
Industry	E-commerce
Products	Handmade items, vintage goods, craft supplies
Revenue	$2.3 billion (2022)
Website	[www.etsy.com Official website]

Etsy, Inc. is an American e-commerce company focused on handmade or vintage items and craft supplies. These items fall under a wide range of categories, including jewelry, bags, clothing, home décor and furniture, toys, art, as well as craft supplies and tools. All vintage items must be at least 20 years old.

History

Etsy was founded in 2005 by Rob Kalin, Chris Maguire, and Haim Schoppik in Brooklyn, New York. The platform was created as a marketplace for crafters, artists, and collectors to sell their handmade creations, vintage goods, and craft supplies. The company quickly gained popularity due to its unique focus on handmade and vintage items, which differentiated it from other e-commerce platforms.

In 2008, Etsy raised $27 million in funding from investors, which helped the company expand its operations and improve its platform. By 2015, Etsy went public and was listed on the NASDAQ under the ticker symbol ETSY.

Business Model

Etsy operates as a marketplace where sellers can list their products for a fee. The company charges a listing fee of $0.20 per item and takes a 5% commission on each sale. Additionally, Etsy offers optional services such as advertising and promotional tools, which sellers can use to increase their visibility on the platform.

Etsy's business model is centered around empowering small business owners and individual creators by providing them with a platform to reach a global audience. The company emphasizes community and sustainability, encouraging sellers to use eco-friendly practices and materials.

Features

Etsy provides a variety of features to enhance the buying and selling experience:

• Shop Customization: Sellers can customize their shop's appearance and branding to reflect their unique style.
• Etsy Payments: A secure payment system that allows buyers to pay using various methods, including credit cards, PayPal, and Etsy gift cards.
• Etsy Ads: An advertising platform that helps sellers promote their products within the Etsy marketplace.
• Etsy Plus: A subscription service offering advanced tools and features for sellers looking to grow their business.

Community and Impact

Etsy has a strong community focus, with forums and teams that allow sellers to connect, share advice, and collaborate. The company also hosts events and workshops to support its sellers.

Etsy has been recognized for its positive impact on small businesses and the creative economy. The platform has enabled many artisans and entrepreneurs to turn their passions into successful businesses.

Criticism and Challenges

Despite its success, Etsy has faced criticism and challenges. Some sellers have expressed concerns about increased fees and competition from mass-produced goods. The company has also had to address issues related to counterfeit and non-handmade items being sold on the platform.

Also see

• E-commerce
• Online marketplace
• Handmade business
• Vintage clothing
• Crafting

References

Template:E-commerce companies Template:Online marketplaces