Etsy is a premier online marketplace to discover, buy and sell unique handmade goods, vintage items and craft supplies as well as factory-manufactured items that you may not find anywhere else. But Etsy is much more than being just a marketplace. It is a platform for creative entrepreneurs, artists and crafters from across the globe to connect online and offline and develops their creative business on their own terms.
From its inception in 2005 till date Etsy has touched the lives of millions of people and helped fulfil their dreams of showcasing their creativity and generating revenue through it.
Come, step into the wonderful world of ETSY to discover exciting facts, achievements, milestones and lots more that the company has achieved during its decade long journey.
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Did you know these interesting facts about ETSY?
- The idea for Etsy was conceptualised after Robert Kalin felt the need for a marketplace to sell the wood-encased computers he was building.
- A whopping 86% of U.S. Etsy sellers are women, which is three times the number of women-owned businesses documented by the U.S. Census’s Survey of Business Owners (SBO), where just 28.7% of home-based businesses are female-owned.
- Etsy has 32 million items listed on its website which includes jewellery, stationery, clothing, crafts and home goods.
- Etsy grew from a community of 5 to 54 million users in just 10 years. << Click to Tweet >>
- All vintage items sold on Etsy are at least 20 years old.
- Etsy is also an advertising company that brings approximately $75 million from paid links and advertisements. This allows Etsy to expand its revenue stream despite remaining a niche company.
- Etsy’s first investors were two local real estate developers and a restaurateur.
- In 2014, Etsy registered total sales (Gross Merchandise Sales or GMS) of $1.93 billion on the platform.
- Shares of Etsy Inc. almost doubled in their IPO debut on April 16th 2015
- In the spirit of handmade, Etsy does not allow reselling, i.e. selling an item in the handmade category when you were not involved in the designing or making process is not permitted.
- ETSY updates apps every 2 weeks to increase performance and user happiness.
- According to Alexa Traffic Rank, Etsy website is ranked at 132nd position globally and is at 39th position in the United States.
- Near 100k searches are done per day by potential buyers to find the way to discount on their orders.
- Etsy’s revenue rose 56% to reach the figure of $195.6 million as on Dec. 31, 2014.
- Etsy Craft Entrepreneurship Program equips underemployed people to turn their creativity and skills into Etsy businesses and earn supplemental income through their craft.
- Etsy website is available in English (US), English (UK), French, Italian, and German.
- Etsy has people buying or selling on the platform from almost every country in the world.
- Etsy hosts an annual “Hello Etsy” conference for Etsy sellers and small business owners.
- Etsy’s own revenue is just 10% of the total gross merchandise sales, which is quite low in comparison to other marketplaces.
- It is the most pinned site on the social network website Pinterest, outranking Google, Tumblr and Flickr.
ETSY: Easy To Sell, Yes!
- At Etsy all you need to open a shop is just $0.20 USD and your imagination.
- Etsy allows you to directly communicate with your buyer, seller or other Etsy members through Etsy Conversations called Convos.
- Etsy is a marketplace where you can sell goods made from recycled and upcycled materials.
- You can list your items under 8 main categories and 600 sub-categories that are again divided into 2000 smaller categories.
- Your every item remains listed on your Etsy shop’s page for 4 months or till someone purchases it.
- You decide the sale prices of your products to be sold on Etsy.
How to become a seller on ETSY
Etsy requires you to follow just a few simple steps to sell on the platform:
- Register with Etsy to become a site member
- Create your own online shop by following simple instructions
- Select a unique and interesting name for your Etsy store
- Start listing items for sale online after your shop name gets approved
- Upload photos of your products, list them under proper categories and sub-categories, and add an intriguing description for each product to attract a potential buyer’s attention
- Set your payment method and your billing method
- Set the right price for your items after considering listing fees, sales charges, shipping costs, refund and exchange policies, custom and duties fees for international orders, etc.
ETSY History and Achievements
- com was launched on June 18, 2005, by iospace, a small company composed of Robert Kalin, Chris Maguire and Haim Schoppik in Brooklyn, New York
- Etsy first started charging a listing fee of $0.10 USD in November, 2005
- The company gained popularity and reached $1.7 million in sales in May 2007.
- Etsy completed its one-millionth sale on July 29, 2007
- In April 2009, Etsy users organized an “etsyday” promotion on Twitter to attract attention for the website
- Etsy launched its iPhone app in November 2011
- In May 2012 Etsy announced that the company had become a certified B Corporation
- In November 2012 Etsy launched its iPad app
- In December 2012 Etsy launched its Android app in English, French, Dutch and German
- On October 1, 2013, Etsy announced that it would allow factory-manufactured goods to be sold on the website, provided the seller either designed or hired designers of the items and disclosed to Etsy that they used factories to manufacture the items
- On March 3, 2015, Etsy announced that it had filed for a $100 million USD IPO
- Etsy went public on April 16, 2015
ETSY Acquisition Milestones
- On June 23, 2014 Etsy acquired A Little Market, a Paris-based online marketplace for handmade items
- On April 23, 2014 Etsy acquired Grand St., a marketplace for creative technology
- On January 22, 2013 Etsy acquired Lascaux Co., developers of social networking applications for mobile devices
- On May 1, 2012, 2013 Etsy acquired Trunkt, an online wholesale marketplace selling artisanal goods
- On December 18, 2009 Etsy acquired Adtuitive, a contextually-driven ad platform working with publishers to provide search and display marketing solutions for retailers
Remarkable Facts about ETSY IPO
- The shares ETSY sold on its first day of trading as a public company on April 16, 2015 is more than 13 million and raised $267 million in IPO proceeds with a estimate of $1.8 billion
- Out of 1000+ B corporation, The company is the 2nd B Corp. that went public
- Etsy began its IPO at the cost of $16 a share, and the stock closed at $31 a share on the first day of trading, valuing the company at more than $3.5 billion
- At the time of IPO founder Robert Kalin possessed less than 1% of the company
- Etsy’s was the biggest IPO ever for a New York-based start-up that is venture-backed.
Amazing ETSY Statistics
- Total number of registered Etsy members is 54 million.
- Number of active Etsy buyers is 22.6 million.
- Number of active Etsy sellers is 1.5 million.
- Till date Etsy has raised $97.26 million in venture funding.
- Total number of employees at Etsy is 757.
- Number of Etsy listings marked as favourite in 2014 is 775 million.
- 95% of Etsy sellers run their business from home. (Tweet it)
- 94% of Etsy sellers want to increase their sales in the future.
- Number of Etsy app downloaded is 21.8 million.
- 36% of Etsy’s gross merchandise sales were generated through mobile devices in 2014.
- 74% of Etsy sellers consider their Etsy shop a business.
- 68% of Etsy sellers are motivated by their income through the platform.
- Average monthly visitors to the Etsy website in the US is 31 million users.
- Etsy generated close to $65.7 million in revenues in the 3rd quarter of 2015. (Tweet it)
- 52% of Etsy’s sellers are college educated people.
- In 2014 it was found that for 30% of Etsy sellers their Etsy shop was their sole occupation.
- 78% of the Etsy’s total sales revenue generated in 2014 was from repeat purchases.
- In 2014 Etsy increased its marketing spend by 122% in an effort to increase growth.
- Etsy CEO Chad Dickerson takes home only $300,000 as annual salary. (Tweet it)
- Etsy CFO Kristina Salen earns a yearly salary of just $297,900. (Tweet it)
- Etsy General Counsel and Secretary has an annual salary amounting to $275,000. (Tweet it)
ETSY Annual Sales Volume from 2010 to 2014
According to Statisticbrain,
- In 2010, Etsy’s sales value was $314,300,000 from selling 18,250,000 items
- In 2011, Etsy’s sales value was $525,600,000 from selling 29,130,000 items
- In 2012, Etsy’s sales value was $895,150,000 from selling 45,470,000 items
- In 2013, Etsy’s sales value was $1,347,830,000 from selling 68,390,000 items
- In 2014, Etsy’s sales value was $1,931,980,000 from selling 99,740,000 items
ETSY Headquarters and offices
Etsy is headquartered in the Dumbo neighbourhood of Brooklyn, New York.
Its additional offices are located in:
- Berlin, Germany
- Dublin, Ireland
- Hudson, New York
- London, United Kingdom
- Melbourne, Australia
- Paris, France
- San Francisco, California
- Toronto, Canada
True origin of the word “Etsy”
Etsy is a catchy name that has often left people wondering about its true meaning and origin.
For a while the company was tight-lipped about the origin of its name. Finally in a January 2010 interview for Reader’s Digest, founder Robert Kalin revealed he wanted a made-up name and watched foreign films for inspiration. While watching Fellini’s 8 ½ he misheard the Italian eh, si (‘oh yes’) as ‘etsi’ and so, Etsi became the name of the company.
Are you aware of Etsy Economy?
Etsy CEO Chad Dickerson defines ‘Etsy Economy’ as a people-powered economy with person-to-person commerce that is the feel of a farmer’s market instead of a supermarket.
How does Etsy’s revenue model work?
Etsy generates revenue in six different ways:
- A listing fee of $0.20 charged for each item
- 5% commission on every sale
- Fee charged for promoted listings
- Fee charged for payment processing
- Shipping labels purchased through the platform
- Point of sale payments