What Happened to Etsy? The Online Marketplace is at a Crossroads (Video)
In this 20 May 2024 video from CNBC, they take a look at the selling platform Etsy and the road the online company has traveled to arrive at it’s current economic position and business model.
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.
https://youtu.be/KxxW9grVDfs
Chapters:
0:00 Intro
1:46 Chapter 1. A revolutionary idea
5:39 Chapter 2. At a crossroads
9:30 Chapter 3. The future Correction (May 21, 2024):
Update: At the 4.27 mark, we stated that Josh Silverman laid off 22% of the staff. The correct number is 15%. The other 8% coincided with his appointment.
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