Saturday , 4 April 2020
With Facebook soon going public, Etsy's actions today signal to the financial world that Etsy is in the game, too, but playing by their own rules.

Etsy Raises $40 Million Increasing it’s Worth to Almost $700 Million

Etsy is the first site that comes to mind when buyers are looking for handmade and vintage goods, and supplies.  Etsy announced today that they raised $40 million in new    funding.  Including this round of funding, Etsy has now raised around $92 million.

Notes From Chad: Funding Etsy’s Future

 We want to do more for our community and we want to make sure Etsy grows and prospers. Today, we are announcing that we are adding some new resources to match our world-changing ambitions. Etsy has closed $40 million of funding from a roster of investors who have been believers in Etsy for a long time. In fact, all of Etsy’s existing investors — Burda, Union Square Ventures, Accel Partners, and Index Ventures (who led this investment round) — committed to Etsy in a big way. They’ve continued to invest all along because they fundamentally believe in Etsy and what we’re doing.

Etsy has 875,000 sellers and 15 million users around the world. Every month,  Etsy  sees  about 40 million unique visitors.  In 2011, Etsy processed $525 million in sales.

Etsy states they are going to  grow Direct Checkout, provide gift cards,  and add more shipping options.  They are  also going to roll out new products to make the buying and selling  experience on Etsy more attractive to more people.  They are going to invest in their international expansion ,  new tech infrastructure to allow to scale, and acquire new top talent.   Etsy has already bought the wholesale site Trunkt.

Here are three articles showing the business world’s view on Etsy’s announcement to be a B-corp and the new $40 million funding.  The financial markets are very interested in Etsy.  With Facebook soon going public, Etsy’s actions today signal to the financial world that Etsy is in the game, too, but playing by their own rules.

Handicraft Site Etsy Valued at More Than $600 Million (Wall Street Journal)

Here’s Why Etsy Is Worth Almost $700 Million  (Business Insider)

Etsy Seeks Scale without Losing Its ‘Street Fair’ Aesthetic (Knowledge @ Wharton)

 

Stop by the Handmadeolgoy Fan Page and take the Poll:  What would you like to see Etsy use this money for?

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5 comments

  1. I’d like to see Etsy use some of those funds on advertising.

  2. Just Color Hand Made Accessories

    This is good news! I think! I hope that the money will be used wisely, to benefit sellers and not just Etsy investers.

    Congrats Etsy!

  3. I’d like to see Etsy open shops where artists local to each location could sell their items for a fee like the website does. I think this would help raise awareness of the value of buying handmade and Etsy in general.

  4. I’m with Beth. I think it’s essential that Etsy does more to advertise the site. I know from personal experience and from reading some of the forums, so many of us encounter people who have never heard of Etsy.

    Not all potential purchasers of handmade, vintage and supplies items read the Wall Street Journal. Not all are using social media or subscribing to the latest hot blog.

    I think Etsy should do a little homework on how people find out about it. Best start when new members sign up. As they’re filling out their details, they could easily write a few words more in a box marked “How did you hear about us?” Perhaps armed with some market research like that, they might learn where best to invest some advertising dollars.

    Other than that, I’m loving this Etsy life!

  5. Jess, I love your idea of local etsy brick and mortar shops! Maybe Etsy could consider investing in it’s seller to open individual shops of there own too…I know that’s my all time goal!

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