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.
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.
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?