#ThursdayTool - Etsy

Music Service Profile: Etsy, inc.

Name: Etsy

Synopsis:

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. Items described as vintage 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. Beginning in 2013, Etsy allowed sellers to sell mass manufactured items.

As of 31 December 2022, Etsy had over 100 million items in its marketplace, and the online marketplace for handmade and vintage goods connected 7.5 million sellers with 95.1 million buyers. At the end of 2022, Etsy had 2,790 employees. In 2022 Etsy had total sales, or Gross Merchandise Sales (GMS), of US$13.3 billion on the platform. In 2022, Etsy garnered a revenue of US$2.6 billion and registered a net loss of US$694 million. The platform generates revenue primarily from three streams: its Marketplace revenue includes a fee of 6.5% of final sale value, which an Etsy seller pays for each completed transaction, on top of 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; while Other revenue includes fees received from third-party payment processors.

Type

Public

Traded as

Nasdaq: ETSY

S&P 500 component

Industry

E-commerce

Founded

June 18, 2005

Founders

Robert Kalin

Chris Maguire

Haim Schoppik

Jared Tarbell

Headquarters

Brooklyn, New York, U.S.

Key people

Josh Silverman (CEO)

Number of employees

2,790 (December 2022)

Subsidiaries

Depop

Website

www.etsy.com