Can An Ebay Executive Save Etsy? Will Wal-Mart Buy It? Analysts Weigh In
Etsy has been working to scale a model rooted in the pre-industrial era: The sale of handmade goods from local artisans akin to what would be found at a street bazzar. But the tricky task of scaling a niche crafts marketplace online has come under a harsher spotlight since the company’s 2015 IPO, as it answers to Wall Street. Etsy launched in 2005 to connect consumers to a community of independent designers and artisans around the world. By 2016, the startup had swelled to $2.8 billion in sales. Nonetheless, sales are stagnating, and for the first quarter ended May 2, Etsy posted a $421,000 profit loss. Last week, the retailer ousted CEO Chad Dickerson, replacing him with Etsy board member and former eBay executive Josh Silverman amid a management shakeup, as it plans 80 staff cuts. Read more at Forbes.
