Etsy Inc. company profile
Etsy, Inc. was founded in 2005 in Brooklyn, New York. The company was incorporated in Delaware in 2006.
Etsy, Inc. operates an online marketplace to buy and sell goods.
The company’s primary marketplace, Etsy.com, is a destination for creative goods. The Etsy marketplace connects entrepreneurs with consumers looking for items that are intended to be special, reflect their sense of style, or represent an occasion. The company’s technology platform allows its sellers to turn their passions into economic opportunity. The company offers Etsy sellers a marketplace with various buyers along with a range of seller tools and services that are designed to help its entrepreneurs generate sales and scale their businesses. In 2019, the company acquired Reverb Holdings, Inc. (Reverb). The Reverb Marketplace is an online marketplace dedicated to buying and selling new, used, and vintage musical instruments, with a community of buyers and sellers worldwide.
As of December 31, 2019, the Etsy and Reverb marketplaces connected 2.7 million active sellers to 46.4 million active buyers. The company’s buyers and sellers are located worldwide and its six-core geographic markets are the United States, the United Kingdom, Canada, Germany, Australia, and France. There are approximately 66 million items for sale across many retail categories in the company’s marketplaces. In 2019, the company’s major six retail categories on the Etsy marketplace were homewares and home furnishings, jewelry and personal accessories, apparel, craft supplies, paper, and party supplies, and beauty and personal care, and with the addition of Reverb, the company has exposure to the market for used musical instruments.
Seller Tools and Services
Etsy Seller Tools and Services
Seller tools and services help the company’s sellers generate more sales and scale their businesses. The company’s paid services include advertising and Etsy shipping labels.
Advertising: The company’s advertising platform allows sellers to pay for the placement of their listings in search results.
Etsy Shipping Labels: This service allows Etsy sellers in the United States, Canada, the United Kingdom, and Australia to purchase discounted United States Postal Service, FedEx, Canada Post, Royal Mail, and DAI Post shipping labels through the company’s platform.
In addition to its paid services, the company provides a range of tools and educational resources to give Etsy sellers the support they need to manage the administrative side of their businesses.
Seller Tools: The company offers various free tools to Etsy sellers, including its Shop Manager dashboard, which it launched in 2017, and which serves as a centralized hub for Etsy sellers to track orders, manage inventory, view metrics, and statistics, and have conversations with their customers across all of their Etsy shops. Other marketing tools include Targeted Offers, the company’s sales, and promotions tool, and its social media tool, which help Etsy sellers with their marketing needs and allows them to stand out on and off the Etsy platform. Also, through a partnership with Intuit, Etsy sellers in the United States and the United Kingdom could simplify their accounting and bookkeeping.
Education: The company provides educational resources to teach Etsy sellers how to start, manage, and scale their businesses on its platform, including blog posts, video tutorials, the Etsy Seller Handbook (available on Etsy.com), Etsy.com online forums, and insights from Etsy.com support teams. In addition to its resources, Etsy sellers connect through self-organized Etsy Teams to build personal relationships with other Etsy sellers, collaborate, educate, and support each other as they build their independent businesses.
Reverb has various services that drive velocity in the marketplace and relieve friction in the purchase funnel.
Bump: This is an on-site advertising platform, which enables Reverb sellers to gain placement in search in exchange for a higher percentage of their items’ final sale price.
Reverb Shipping Labels: Reverb provides sellers access to shipping labels at wholesale discounts and provides transparency through tracking information of when a buyer could expect to receive their item.
The key elements of the company’s strategy are to focus on the Etsy marketplace in its six-core geographies and build a sustainable competitive advantage.