Summary
3E2 Chart
Etsy Focuses on ‘Harnessing AI' as CEO Steps Aside
Etsy is continuing its focus on artificial intelligence (AI) as it names new leadership. The online marketplace released earnings Wednesday (Oct. 29) showing gross merchandise sales of $2.72 billion, down 6.5% year over year.
Etsy: Volatility Will Continue With EBITDA Sliding
Etsy faces continued sales disappointments and leadership changes, with shares dropping 7% post-Q3 earnings and further downside likely. ETSY's integration with ChatGPT fueled a rally earlier this year, but it has not delivered meaningful growth or improved fundamentals, raising concerns about future prospects. Despite increased spending on product development and marketing, ETSY's margins are under pressure, and adjusted EBITDA is declining year-over-year.
Etsy CEO Josh Silverman Plans to Step Down. The Online Marketplace's Stock Is Plunging
Etsy (ETSY) shares dropped nearly 9% Wednesday afternoon as the online marketplace announced a shakeup in its leadership.
Etsy Inc. (3E2) FAQ
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Etsy Inc. Profile
| Specialty Retail Industry | Consumer Discretionary Sector | Joshua G. Silverman CEO | XFRA Exchange | US29786A1060 ISIN |
| US Country | 2,400 Employees | - Last Dividend | - Last Split | 16 Apr 2015 IPO Date |
Overview
Etsy, Inc., together with its subsidiaries, is renowned for its operation of two-sided online marketplaces that facilitate a connection between buyers and sellers across several countries including the United States, the United Kingdom, Germany, Canada, Australia, and France. The company's flagship marketplace, Etsy.com, serves as a bridge connecting artisans and entrepreneurs with a diverse consumer base, providing a platform for the sale of unique, often handmade or vintage items, and craft supplies. With its foundation laid in 2005 and a rebranding from Indieco, Inc. to Etsy, Inc. in June 2006, the company has established its headquarters in Brooklyn, New York, fleshing out its mission to keep human connection at the heart of commerce.
Products and Services
- Etsy.com
- Reverb
- Depop
- Elo7
- Etsy Payments
- Etsy Ads
- Shipping Labels
- Etsy Purchase Protection program
- Etsy Share and Save program
- Educational Resources
- Etsy Teams
- Star Seller program
The primary marketplace of Etsy, Inc., focused on connecting artisans and entrepreneurs with consumers looking for unique, handmade, or vintage items, and craft supplies.
A marketplace dedicated to musical instruments, allowing musicians and enthusiasts to buy, sell, and trade their gear.
A fashion resale marketplace that caters to the buying and selling of secondhand clothing, promoting sustainable fashion trends among younger demographics.
A Brazil-based marketplace specializing in handmade and unique items, fulfilling the local demand for culturally relevant crafts and goods.
A payment processing service designed to facilitate transactions between buyers and sellers, offering a secure and efficient checkout process.
An advertising platform that enables sellers to promote their listings, increasing the visibility of their products to potential buyers within the Etsy marketplace.
A service that allows sellers from the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels, streamlining the delivery process.
Designed to help buyers shop with confidence, offering support in the event that an item does not arrive or isn't as described.
A program for sellers, enabling them to save on Etsy fees for sales that are driven to their Etsy shop from their own marketing channels.
Comprising blog posts, video tutorials, the Etsy Seller Handbook, online forums, and insights to equip sellers with the knowledge and tools necessary for success on the platform.
A platform where sellers can build personal relationships with other Etsy sellers, fostering a community of support and collaboration.
A program designed to recognize and reward sellers who consistently provide a high-quality customer experience, encouraging excellence within the Etsy community.
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