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What Happened To Etsy?
Posted
May 20, 2024
Views
1,301,337
Likes
16,891
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5,044
Engagement
1.69%
May 20, 2024
1,301,337
16,891
5,044
1.69%
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The online handmade goods marketplace, Etsy, is at a crossroads. After booming during the pandemic, the company's gross merchandise sales have been flat in 2022 and 2023. Etsy's stock is down more than 70% from its all-time high in 2021, and its first-quarter 2024 earnings report revealed another disappointing earnings miss. Some of its sellers say the company's laser-sharp focus on growth has pushed Etsy away from its core mission — to keep commerce human — and instead allows for an increasing number of drop shippers to join the platform.
Chapters:
Correction (May 21, 2024): At 4.27 we misstated that Josh Silverman laid off 22% of the staff. The correct number is 15%. The other 8% coincided with his appointment.
Produced, Shot and edited by: Natalie Rice
Animation by: Christina Locopo, Jason Reginato
Senior Managing Producer: Tala Hadavi
Editorial Support: Jeniece Pettitt
Footage: Getty Images, AP Photos, Etsy, Nicole Aline Legault, Chiarra Lohr
Additional sourcing: FactSet, Oppenheimer & Co., Wayback Machine
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What Happened To Etsy?
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