Etsy
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Type of site
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E-commerce |
|---|---|
| Owner | Etsy Inc. (NASDAQ: ETSY) |
| Created by | Robert Kalin, Chris Maguire, Haim Schoppik, Jared Tarbell |
| Revenue | US$195.6 million (2014) |
| Website | Etsy.com |
| Alexa rank |
 138 (October 2015[update]) |
| Commercial | yes |
| Registration | Required to buy or sell |
| Launched | 2005 |
Etsy is a (P2P) e-commerce website focused on handmade or vintage items and supplies, as well as unique factory-manufactured items. These items cover a wide range, including art, photography, clothing, jewelry, food, bath and beauty products, quilts, knick-knacks, and toys. Many sellers also sell craft supplies such as beads, wire and jewelry-making tools. All vintage items must be at least 20 years old. The site follows in the tradition of open craft fairs, giving sellers personal storefronts where they list their goods for a fee of US$0.20 per item.
As of December 31, 2014, Etsy had 54 million users registered as members, and the online marketplace for handmade and vintage goods connected 1.4 million active sellers with 19.8 million active buyers. At the end of 2014, Etsy had 685 employees, and had 29 million items listed on its website. In 2014, Etsy clocked a total sales (Gross Merchandise Sales or GMS) of US$1.93 billion on the platform. Of this, 36.1% came from purchases made on mobile devices and 30.9% was generated outside the USA.
In 2014, Etsy garnered a revenue of US$195.6 million, and registered a net loss of US$15.2 million. Etsy generates revenue primarily from three revenue streams. Its 'Marketplace' revenue includes a fee of 3.5% of sale value, which an Etsy seller pays for each completed transaction, and a listing fee of 20 cents per item. 'Seller Services', Etsy's fastest growing revenue stream, includes fees for services such as Promoted Listings, payment processing and purchases of shipping labels through the platform. 'Other' revenue includes fees received from third-party payment processors.
In November 2016, Etsy disclosed it purchased Blackbird Technologies for $32.5 million. Blackbird Technologies is a startup that developed AI software used for shopping context - search applications.
The site was launched in 2005 by iospace, a small company composed of Robert Kalin, Chris Maguire, and Haim Schoppik. The initial version had taken two and a half months to build. Later Jared Tarbell joined the team. Former NPR executive Maria Thomas joined as COO in 2008, was promoted to CEO and left Etsy in December 2009. Robert Kalin resumed his role as CEO from December 2009 until July 2011. Investors include Sean Meenan, Spencer and Judson Ain, Union Square Ventures, and founders of Flickr and Delicious.
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