Welcome to our dedicated page for Etsy news (Ticker: ETSY), a resource for investors and traders seeking the latest updates and insights on Etsy stock.
Etsy, Inc. (NASDAQ: ETSY) operates as a prominent global e-commerce marketplace that connects millions of creative buyers and sellers. Founded in 2005 and headquartered in Brooklyn, New York, Etsy has rapidly grown into a top-tier marketplace in the U.S., U.K., Germany, France, Australia, and Canada. The company specializes in unique, handmade, vintage items, and craft supplies, thereby catering to a niche market of buyers looking for distinctive goods that are not available in mainstream retail.
Etsy's core marketplace, Etsy.com, is its primary platform, where over 96 million buyers interact with 9 million sellers. The platform covers a broad range of categories, including jewelry, home decor, clothing, and art, generating a consolidated gross merchandise volume of $13.2 billion in 2023. Etsy also owns other marketplaces such as Reverb (musical instruments) and Depop (fashion resale), which contribute to its diversified revenue stream.
The company generates revenue through various streams such as listing fees, transaction fees, advertising services, payment processing, and shipping labels. In its latest financial results for Q4 2023, Etsy reported its highest-ever quarterly revenue of $842 million, driven by strong growth in Etsy Ads and payment services. Despite the challenging economic environment, Etsy showcased a 7.0% revenue growth and an adjusted EBITDA margin of 28.6% for the third quarter of 2023, highlighting its robust financial performance.
Recent achievements include the launch of Gift Mode™, an interactive hub aimed at enhancing the gifting experience through a blend of AI and human curation. This initiative is part of Etsy's broader strategy to increase buyer consideration and frequency of purchases. Additionally, Etsy's subsidiary Reverb has improved its user experience with advanced search filters and streamlined checkout processes, while Depop has made strides in performance marketing and product personalization.
Etsy's mission,
Etsy, Inc. (NASDAQ: ETSY) announced leadership changes effective September 12, 2022, naming Kruti Patel Goyal as CEO of its subsidiary Depop, following Maria Raga's resignation. Goyal, previously Chief Product Officer at Etsy, brings 11 years of marketplace experience. Nick Daniel has been promoted to Chief Product Officer at Etsy. CEO Josh Silverman emphasized the importance of nurturing talent and the growing potential of Depop, which now boasts over 26 million users globally.
Etsy, Inc. (Nasdaq: ETSY) is set to release its second quarter financial results on July 27, 2022, after market close. Interested parties can access the press release on the Etsy Investor Relations website. A video webcast conference call will follow at 5:00 p.m. ET to discuss the results, with a replay available later that evening. The company operates two-sided online marketplaces, including Etsy.com, Depop, Reverb, and Elo7, connecting millions of buyers and sellers globally. Etsy continues to focus on empowering communities through its business model.
Etsy has announced the launch of its new Purchase Protection program, effective August 1, 2022, designed to enhance buyer confidence by offering full refunds for qualifying purchases that do not meet expectations. The company will invest over $25 million annually to cover these refunds, ensuring sellers retain their earnings. This initiative aims to improve the shopping experience and foster trust in the Etsy marketplace. Etsy has stated that the program will not affect its Q2 2022 financial guidance.
Etsy, Inc. (Nasdaq: ETSY) announced its participation in two upcoming investor events. On June 2, 2022, company executives will attend the Loop Capital Markets 2022 Investor Conference in New York City. Additionally, Etsy will host a webcasted fireside chat at the Stifel 2022 Cross Sector Insight Conference on June 8, 2022, at 10:55 a.m. ET, with a live replay available on their Investor Relations website. Etsy connects millions of buyers and sellers through its online marketplaces and emphasizes a mission to 'Keep Commerce Human.'
Etsy (Nasdaq: ETSY) announced its participation in several upcoming investor events, including Needham's 17th Annual Technology and Media Conference on May 16, 2022, and the Jefferies Virtual Internet Summit on May 31, 2022. Both events will feature presentations by Etsy executives and will be available via webcast on Etsy's investor relations website. Additionally, executives will attend the Morgan Stanley's 7th Annual Sustainable Futures Conference on May 25, 2022, in New York City. Etsy continues to focus on connecting buyers and sellers globally while promoting its mission to 'Keep Commerce Human.'
Etsy, Inc. (NASDAQ: ETSY) reported its Q1 2022 results, showing consolidated Gross Merchandise Sales (GMS) of $3.3 billion, a 3.5% year-over-year increase. However, Etsy marketplace GMS fell by 2.0% year-over-year to $2.8 billion due to macroeconomic headwinds. Revenue rose by 5.2% to $579.3 million, yet net income declined by 40.1% to $86.1 million, primarily due to increased employee compensation costs. The company continues to invest in product and marketing to enhance buyer engagement, while facing uncertainty in consumer spending and geopolitical events.
Bakkt Holdings, Inc. (NYSE: BKKT) has appointed De’Ana Dow and Jill Simeone to its Board of Directors, expanding its board to ten members. Dow, partner and general counsel at Capitol Counsel, brings extensive expertise in financial markets and regulatory matters, having worked with the Commodity Futures Trading Commission. Simeone, Chief Legal Officer at Etsy (NASDAQ: ETSY), has significant experience in corporate governance and risk management. The addition is expected to enhance Bakkt's strategic initiatives and deepen the board's expertise in financial and retail sectors.
Etsy, Inc. (Nasdaq: ETSY) plans to release its first quarter financial results on May 4, 2022, after market close. The results will be accessible via the Etsy Investor Relations website. A video webcast conference call is scheduled for the same day at 5:00 p.m. ET, where participants can submit questions through a chat window. A replay will be available by 8:00 p.m. ET. Etsy connects millions of buyers and sellers globally, focusing on unique and creative goods through its primary marketplace, Etsy.com, and other platforms like Depop and Reverb.
Etsy, Inc. has announced leadership changes to enhance its executive team. Raina Moskowitz has been promoted to Chief Operating Officer, effective immediately, to oversee marketplace services and critical revenue functions. Kim Seymour will join as Chief Human Resources Officer on April 26, 2022, bringing over two decades of experience in organizational design. The changes aim to strengthen Etsy's growth opportunities and maintain its commitment to a human-centered commerce approach. CEO Josh Silverman expressed confidence in both leaders to drive success in their new roles.
Etsy, Inc. (Nasdaq: ETSY) announced its participation in several upcoming investor events. Executives will present at Canaccord's eCommerce Sustainable Advantage Virtual Forum on March 24, 2022, at 12:00 p.m. ET, with a live webcast available on Etsy's investor relations site. Additionally, Etsy will participate in the D.A. Davidson 5th Annual Consumer Growth Conference on March 10, 2022, and the Deutsche Bank's 30th Annual Media, Internet, and Telecom Conference on March 15, 2022. Etsy continues to connect creative buyers and sellers globally, maintaining its mission to 'Keep Commerce Human.'
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