CNBC: Etsy’s $14 billion Online Empire

Sep 08, 2020

Etsy is a global marketplace for handcrafted and vintage goods. The e-commerce website has over 2.8 million sellers, 65 million items for sale, and 48 million buyers as of July 2020. In the second quarter of this year, Etsy reported $2.7 billion in sales.

The marketplace is a platform for independent creators to sell their unique, handcrafted products, and for them to build connections with buyers. Most of the trends we see online; such as slime, sloths, or unicorn merchandise, were in fact started on Etsy. 

<iframe width=560 height=349 src=https://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&byGuid=7000153139 frameborder=0 scrolling=no allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen ></iframe>

(Video Source: CNBC)

Since its launch in 2005, the company has grown tremendously. The seller who listed the very first item sold on Etsy’s platform reported $1 million in gross merchandise sales in 2005. In 2019, this same seller reached a staggering $5 billion in sales. 

“Our mission is keeping commerce human.” – CEO of Etsy, Josh Silverman

Source: How Etsy built a nearly $14 billion handmade empire

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