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Last Updated:
2024-09-22 08:20:01

Etsy

American e-commerce company for handmade items and crafts
American e-commerce company for handmade items and crafts

Etsy is an American e-commerce platform specializing in handmade, vintage items, and craft supplies. Sellers pay a fee to list items. As of 2022, Etsy had over 100 million items and connected millions of sellers with buyers. In 2023, Etsy had 2,420 employees and generated billions in revenue.

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2005
Etsy Launch

Etsy was launched in 2005 and experienced steady growth in its initial years.

2006
Etsy Grows to 10k Sellers and 40k Listings

By the middle of 2006, Etsy had grown to 10,000 sellers and 40,000 listings through craft fairs, word of mouth, and internet buzz.

2007-07-29
Etsy's One-Millionth Sale

Etsy marked its one-millionth sale on July 29, 2007, showcasing its growing popularity and success.

2008-01
Etsy receives funding from investors

In January 2008, Etsy received financial backing of $27 million from Union Square Ventures, Hubert Burda Media, and Jim Breyer, to further enhance its operations and expansion.

2008-02
Speculation on Etsy as eBay competitor

In February 2008, amidst troubles at eBay, speculation arose that Etsy could emerge as a significant competitor in the e-commerce market, fueled by dissatisfaction among some eBay sellers.

2008-07
Rob Kalin steps down as CEO of Etsy

In July 2008, Rob Kalin relinquished his position as CEO of Etsy, passing the leadership role to Maria Thomas, marking a significant change in the company's management.

2008-08
Key Turning Point for Etsy with Leadership Change

In August 2008, Chris Maguire and Haim Schoppik left Etsy due to dissatisfaction with the company's direction. This led to the hiring of Chad Dickerson as chief technology officer, marking a crucial turning point for Etsy.

2008-09
Etsy hires Chad Dickerson as CTO

In September 2008, Etsy appointed Chad Dickerson, a former Yahoo! employee, as its Chief Technology Officer, signaling a strategic move to strengthen its technological capabilities.

2009-04
Etsyday promotion on Twitter

In April 2009, users organized an 'etsyday' promotion on Twitter, generating extra attention for the platform and showcasing the community's support and engagement.

2009-05
Etsy Sales Growth

As of May 2009, Etsy had approximately 60 employees and sales of $10 to 13 million per month, possibly boosted by consumer interest in cheaper and more personalized goods due to the United States recession.

2010-03
Etsy plans to go public

In March 2010, Etsy announced plans to go public in the future, highlighting its aspirations for growth and expansion in the e-commerce industry.

2010-12
Etsy reaches seven million registered users

In December 2010, Etsy disclosed that it had reached seven million registered users, emphasizing its commitment to maintaining a personal community feel amidst its growth.

2011-03
Introduction of People Search on Etsy

In March 2011, Etsy introduced a Facebook-style social networking system called People Search to help buyers and sellers connect with each other and become friends. This feature made past purchases with feedback easily searchable, leading to complaints and subsequent changes on the site to protect users' purchase information.

2011-07
CEO Change from Rob Kalin to Chad Dickerson

In mid-2011, Rob Kalin was replaced by Chad Dickerson as Etsy's CEO. The decision was made to bring in a technically savvy CEO to address infrastructure issues and the shift to mobile usage. Dickerson focused on improving site stability, launching new features, and addressing seller concerns.

2012-04
Fraud Detection Controversy on Etsy

In April 2012, Etsy faced scrutiny over its fraud detection efforts and inconsistencies in applying rules about handmade items. A popular blog, Regretsy, accused a featured vendor of being a reseller, sparking debate within the Etsy community and leading to the vendor's account deactivation.

2012-05
Etsy Raises $40 Million in Series F Funding

In May 2012, Etsy secured $40 million in Series F funding and announced its certification as a B Corp. The funds were allocated towards expanding Etsy's presence in international markets like France, Germany, and Australia.

2012-12
Etsy Holiday Storefront

In December 2012, Etsy opened a temporary storefront for the holiday season in SoHo, New York City.

2013-10-01
Etsy Policy Change Allowing Outsourcing

In October 2013, Etsy updated its policy to permit sellers to outsource production to third parties and factories, use shipping or fulfillment services, and label products as 'handmade' as long as the original idea comes from the seller.

2014-06
Etsy Acquires A Little Market

In June 2014, Etsy acquired A Little Market, a French e-commerce site specializing in handmade goods, foods, and wine. The acquisition, valued at less than $100 million, marked a significant expansion move for Etsy.

2014-07
Etsy hires Mike Grishaver as senior vice president of product

In July 2014, Etsy appointed Mike Grishaver as its senior vice president of product, recruiting him from music streaming service Pandora. Grishaver's expertise in developing mobile user experience was crucial for Etsy as it aimed to enhance its mobile capabilities.

2015-03-03
Etsy Files for IPO

On March 3, 2015, Etsy announced its filing for a $100 million IPO, signaling a major financial milestone for the company. The IPO proceeded in April 2015, with Etsy going public and raising significant capital.

2015-03-05
Etsy's Public Offering

Etsy, an e-commerce platform, moves closer to its public offering, easing concerns with its business strategies. The company has raised $97.3 million in venture funding.

2015-04-16
Etsy Goes Public

Etsy officially went public on April 16, 2015, opening up its shares to public trading.

2015-04-20
Etsy's Third Day of Trading

On April 20, 2015, Etsy's stock opened at $28.77 and closed at $24.90 on its third day of trading after the IPO.

2016-01-19
Etsy Shares Record Low

On January 19, 2016, Etsy shares closed at a record low of $6.65, dropping 73.29% in value from $2,490 to $665.

2017-08-11
Etsy Stock Exceeds IPO Price

On August 11, 2017, Etsy's stock exceeded its March 2015 IPO price of $16, closing at $16.22.

2018-05-31
Etsy Stock Doubles in Value

On May 31, 2018, Etsy's share price doubled to $32.34, less than a year after exceeding its IPO price.

2019-07
Etsy Acquires Reverb

In July 2019, Etsy purchased the music-based marketplace Reverb for $275 million.

2020-02
Introduction of 'Risk Free' Product Advertising Program

In February 2020, Etsy announced a new product advertising program where the company would automatically purchase ads for sellers on high-traffic websites. Sellers with higher revenue are mandated to participate, leading to criticism from some sellers.

2020-03
Etsy's Growth During Pandemic

Etsy experienced significant growth when the pandemic hit in March 2020, reaching a high of $294 in late 2021 before declining. By the end of May 2022, its share price was around $82.

2020-04
Etsy Response to COVID-19

In April 2020, Etsy issued a call to all sellers to start making cloth face masks to combat COVID-19.

2021-06-02
Etsy Acquires Depop

On June 2, 2021, Etsy announced the acquisition of shopping app Depop, a global fashion resell marketplace, for $1.63 billion.

2021-11-19
Etsy Stock Hits High During COVID-19 Pandemic

On November 19, 2021, Etsy's stock hit its high of $294.38, showing significant growth during the COVID-19 pandemic.

2022-03-10
Etsy Blocks Russian Accounts Due to Banking Sanctions

On March 10, 2022, Etsy blocked the accounts of all Russian customers, including those residing abroad, and removed their listings due to banking sanctions. This action was part of expanding business restrictions in the sellers' region.

2022-06-03
Etsy Stock Price

On June 3, 2022, Etsy's stock closed at $80.98 a share, following a long slide since its high in November.

2023-04
UK Consumers' Association Find Fake 'Handmade' Products on Etsy

In April 2023, the UK Consumers' Association discovered that some items sold on Etsy were also available at major retailers for lower prices. This raised concerns about misleading claims made by some Etsy sellers.

2024-01
Etsy Introduces 'Gift Mode' Powered by OpenAI GPT-4

In January 2024, Etsy introduced 'Gift Mode', utilizing OpenAI GPT-4 to enable users to create gift guides based on recipient demographics and interests.

2025
Etsy's Energy Intensity Reduction Goal

By 2025, Etsy aims to reduce its energy intensity by 25%, demonstrating the company's commitment to sustainability and environmental responsibility.

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Etsy
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