Etsy

Etsy, Inc. is a US-based e-commerce company that specializes in handmade or vintage products, as well as craft supplies. The platform features a diverse range of products, such as jewelry, clothing, home décor and furniture, toys, and art, among others. T

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Technology  
Summary

Etsy is an American e-commerce company that provides a platform for sellers to offer handmade or vintage items, as well as craft supplies. The website operates like an online craft fair, with sellers setting up individual storefronts to list their goods for a fee. Etsy allows sellers to offer mass-manufactured items, but also has a focus on unique and artisanal products. The platform features a wide range of products, including jewelry, clothing, home décor, furniture, toys, and art, among others.


History

Etsy was founded in June 2005 by Robert Kalin, Chris Maguire, and Haim Schoppik, as an online platform to help makers and artisans sell their handmade or vintage goods. The idea for the website came about when Kalin, an artist and carpenter, was trying to sell some of his handmade goods online, but couldn't find a platform that suited his needs.

The founders initially called the site "etsy.com", a meaningless name that Kalin claimed was "catchy and fun". The site was launched in beta mode in June 2005 and officially went live on September 18, 2005.

In the early days, Etsy focused on building a community of makers and artisans who were passionate about handmade goods. The company was based in Brooklyn, New York, and held regular events to bring together sellers and buyers. The platform quickly gained a following and by 2007, Etsy had over 100,000 registered sellers and 450,000 registered buyers.

In 2008, the company raised $27 million in funding from venture capitalists, which helped fuel its growth. The site continued to expand and in 2011, it launched its first mobile app. The app allowed users to browse and purchase items on the go, which helped boost sales and increase the site's visibility.

In 2015, Etsy went public and listed on the NASDAQ stock exchange. The company's IPO raised $267 million and was one of the largest tech IPOs of the year. Following the IPO, Etsy faced criticism from some sellers who felt that the company was losing its focus on handmade and vintage items, and was becoming more of a mass-market platform.

In response, Etsy implemented a number of changes, including stricter guidelines around what could be sold on the platform, a renewed focus on handmade and vintage items, and initiatives to support small businesses and independent makers. In 2019, Etsy acquired Reverb, a marketplace for musical instruments and gear, which helped the company expand into new markets.

Today, Etsy has over 4.4 million active sellers and over 90 million active buyers. The company is headquartered in Brooklyn, New York, and has offices around the world. Despite its growth, Etsy remains committed to its original mission of helping makers and artisans sell their unique and handmade goods online.


Mission

Etsy's mission is to "keep commerce human". The company's goal is to connect buyers and sellers in a way that celebrates creativity and community, and helps support independent makers and artisans around the world. Etsy believes that everyone has a unique talent or skill, and that the world is a better place when people can share those talents with others.

To achieve this mission, Etsy provides a platform for makers and artisans to sell their handmade or vintage goods online. The company's focus on handmade and vintage items helps support small businesses and independent sellers, while also promoting sustainability and reducing waste. Etsy also provides resources and tools to help sellers grow their businesses, such as analytics, marketing tools, and educational resources.


Vision

Etsy's vision is to create a world where everyone has the opportunity to express their creativity and connect with others in meaningful ways. The company believes that handmade and vintage items have the power to bring people together and foster a sense of community, and that this approach to commerce can help support independent makers and artisans around the world.

Etsy's vision is centered around three key pillars: creativity, entrepreneurship, and sustainability. The company believes that everyone has a unique creative talent, and that the world is a better place when people can share those talents with others. By providing a platform for makers and artisans to sell their handmade and vintage goods online, Etsy is helping to support creativity and entrepreneurship around the world.


Products and Services

Etsy is an e-commerce platform that allows makers and artisans to sell their handmade or vintage items, as well as craft supplies and tools, online. The platform is home to a wide range of unique and one-of-a-kind products, including jewelry, bags, clothing, home decor and furniture, toys, art, and more.

One of the key features of Etsy is its focus on handmade and vintage items. To qualify as handmade, items must be made or designed by the seller, while vintage items must be at least 20 years old. This focus on handmade and vintage goods helps to support small businesses and independent sellers, while also promoting sustainability and reducing waste.

Etsy also provides a range of services and tools to help sellers grow their businesses. These include analytics and data tools to help sellers understand their audience and improve their listings, as well as marketing and advertising tools to help sellers promote their products and reach new customers. Etsy also offers educational resources, such as workshops and online courses, to help sellers build their skills and improve their businesses.

In addition to its core e-commerce platform, Etsy also offers a range of other services and products. These include:

Etsy Studio: A marketplace for craft supplies and tools, including fabrics, yarns, and tools for sewing, knitting, and other crafts.

Etsy Wholesale: A platform that connects makers and designers with retail buyers, allowing sellers to expand their reach and sell their products in stores around the world.

Etsy Payments: A payment processing service that allows sellers to accept a range of payment methods, including credit cards, PayPal, and Apple Pay.


References
Etsy
Leadership team

Robert Kalin  (Founders)

Chris Maguire  (Founder)

Haim Schoppik  (Founder)

Jared Tarbell (Founder)

Josh Silverman  (CEO)

Industries

Technology

Products/ Services
Custom Writing and Design. Curated Lists, Modification Services. Rentals. Divination and Spells.
Number of Employees
1,000 - 20,000
Headquarters
Brooklyn, New York, U.S.
Established
2005
Company Type
Public Limited Company
Social Media

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Fri Mar 01 2024
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