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Etsy raises $40 million for expansion

bits.blogs.nytimes.com/2012/05/09/etsy-raises-40-million-for-intern...

7 Highlighted Responses

anee avatar Admin
anne keller-smith from downtoearthcreations says

i wonder that etsy needs that much money. all it really needs is enough to pay the salaries of the employees who program the site.

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psssst...
www.etsy.com/teams/7718/site-help/discuss/10279600/page/3/?post_id=...
www.etsy.com/teams/7718/site-help/discuss/10279600/page/5/?post_id=...
anee avatar Admin
To expand on that...

Funds help us accelerate our growth. Specifically, we’ll invest in our international expansion (new languages), new tech infrastructure to allow us to scale, and we’ll acquire top talent.

We’ll grow Direct Checkout. We'll provide gift cards and shipping options. We’ll roll out new products to make buying and selling on Etsy more attractive to more people.
anee avatar Admin
Thanks for the feedback, everyone.

Our team listens to you, and our engineers do intensive user testing of new features and improvements, and they always have new things in the works to help you manage your shop and be more successful. Some recent examples are unlimited listing quantities, continually improving Shop Stats, and direct checkout (letting buyers use credit cards).

We are thrilled about what the B Corporation certification means to us, and to those of you who are as passionate as we are about social and environmental responsibility. To clarify, this a commitment Etsy has made as a company; it doesn’t change anything for our community or our marketplace policies.

As for the funding, it will help us accelerate our growth and provide you with many awesome tools and improvements. Form my previous post:

Specifically, we’ll invest in our international expansion (new languages), new tech infrastructure to allow us to scale, and we’ll acquire top talent.

We’ll grow Direct Checkout. We'll provide gift cards and shipping options. We’ll roll out new products to make buying and selling on Etsy more attractive to more people.

anee avatar Admin
Rebecca from RebeccasHearts says

Well, the gift card option would be cool. :-)

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It's coming!
anee avatar Admin
Hey Murray!

Thanks. We are very committed to the mission of being a great global marketplace for independent creative businesses, and to always make it easier for you to sell, and for your buyers to buy.

I'm glad you've been impressed. We're impressed by our community often. :-) I appreciate your thoughts, thanks for the constructive comments!
Hi everyone! Just wanted to pop in and share some info just in case anyone was confused. B Lab (the organization that certifies B Corporations) is a non-profit.

You can read more about it here:
www.bcorporation.net/about

Thanks, everyone!
Betty from bettysworld4u says

Anee, can you explain what you meant by: We’ll roll out new products to make buying and selling on Etsy more attractive to more people. What type of Products? Curious.

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Great question! I'm not Anee, but I'll answer :)

By "product", we mean features for the website. For example, Direct Checkout (the new feature that allows buyers to check out with a credit card) is a product.

I hope that helps!

101 Responses

ugh. well at least now we know why the opened the door for resellers to enter more openly with their Balinese boats.
We'll see what happens now.
waiting for other shoe to drop.
wow that sure puts a different spin on things than the huggy kissy article I read the otherday.

Quote
Etsy’s chief executive, Chad Dickerson, took the post last July from Rob Kalin, one of the original founders, who was nudged out by the board
notes from Chad

www.etsy.com/blog/news/2012/notes-from-chad-funding-etsys-future/
Ugh, that Notes from Chad does not mention the word 'handmade' ONCE.
This sounds kinda bleak...
the main discussion thread admin has been replying in is here:
www.etsy.com/teams/7718/site-help/discuss/10279600
"His plan is to hire community managers and open offices in countries where Etsy thinks it can gain a viable footprint. He has his eye on Australia and Canada, among other markets."

ooh, Canadian office! I like that.
@Cindy - Maybe in Calgary?

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