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. has completed its acquisition of Depop for approximately $1.625 billion, primarily in cash, enhancing its portfolio in the high-frequency apparel sector aimed at Gen Z consumers. This strategic move allows Etsy to tap into the fast-growing resale market. CEO Josh Silverman emphasized Depop's unique market position and engaged user base, indicating plans to drive further growth by leveraging Etsy's existing value creation strategies. Depop will continue to operate independently under its current leadership.
Etsy, Inc. (NASDAQ: ETSY) has completed the acquisition of Elo7, a leading Brazilian online marketplace for unique, handmade items. This strategic move enhances Etsy's presence in Brazil, one of the world's largest economies, and aligns with its mission to expand its 'House of Brands' portfolio. With similarities in enhancing search, connections, and ease of transactions, Elo7 will operate independently while benefiting from Etsy's resources. The acquisition reflects Etsy's focus on growth in the burgeoning Brazilian ecommerce sector.
Etsy, Inc. (NASDAQ: ETSY) announced a definitive agreement to acquire Elo7, a leading Brazilian marketplace for unique handmade items, for US$217 million. Elo7, ranking in the top 10 ecommerce sites in Brazil, connects about 1.9 million active buyers with 56,000 active sellers. The acquisition aims to strengthen Etsy's presence in the Latin American market, which is currently underpenetrated, with ecommerce projected to reach $29 billion by 2021. Following the acquisition, Elo7 will operate independently but leverage Etsy's resources to accelerate growth.
Etsy, Inc. (Nasdaq: ETSY) has priced $1.0 billion of 0.25% convertible senior notes due 2028 in a private placement, set to close on June 11, 2021. The notes will be unsecured obligations, accruing interest semiannually at 0.25%. With an initial conversion rate of 4.0518 shares per $1,000 principal, the conversion price is approximately $246.80, a 45% premium over the last closing stock price. The net proceeds of approximately $986.7 million will be used for share repurchases and general corporate purposes, including capped call transactions to reduce dilution.
Etsy will participate virtually in the Stifel 2021 Virtual Cross Sector Insight Conference on June 9, 2021, at 11:20 a.m. ET. The event will connect creative buyers and sellers through its online marketplace. A live webcast and replay will be available on Etsy's investor relations website.
Etsy, founded in 2005 and headquartered in Brooklyn, NY, aims to support commerce that empowers communities. For more details, visit investors.etsy.com.
Etsy, Inc. plans to offer $1.0 billion of convertible senior notes due 2028 through a private placement. The notes will be unsecured obligations, convertible into cash, shares, or a combination. Proceeds will fund stock repurchases, capped call transactions, and general corporate purposes. Etsy aims to repurchase up to $150 million in common stock concurrently with the offering. The offering may impact stock prices due to hedge activities by option counterparties, with potential risks if capped call transactions fail. None of the securities have been registered under the Securities Act.
Etsy (NASDAQ: ETSY) has signed an agreement to acquire Depop for $1.625 billion, primarily in cash. The acquisition aims to enhance Etsy's market presence in the fast-growing resale sector, particularly among Gen Z consumers, who represent 90% of Depop's active user base. Depop's 2020 gross merchandise sales were approximately $650 million, with revenue reaching $70 million.
Following the anticipated closing in Q3 2021, Depop will operate independently while benefiting from Etsy's resources. The acquisition is expected to be accretive to Etsy's growth, though modestly dilutive to its adjusted EBITDA margin.
Etsy, Inc. (Nasdaq: ETSY) announced its virtual participation in the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 26, 2021, at 11:10 a.m. ET. A live webcast and replay will be available on Etsy's investor relations website. The company operates two-sided online marketplaces that connect millions of buyers and sellers globally, focusing on unique goods crafted by creative entrepreneurs. Etsy's mission is to enhance commerce by empowering communities. Founded in 2005, Etsy is headquartered in Brooklyn, New York.
Etsy, Inc. reported a remarkable first quarter for 2021, with consolidated Gross Merchandise Sales (GMS) reaching $3.1 billion, a 132.3% increase year-over-year. Revenue soared to $550.6 million, up 141.5%, with net income skyrocketing 1,048.1% to $143.8 million. Active buyers grew 89.9%, totaling 90,654. The company noted significant engagement from habitual buyers, up 205%. Despite the strong performance, Etsy declined to provide full-year guidance due to ongoing macroeconomic uncertainties.
Etsy, Inc. (Nasdaq: ETSY) is set to release its first quarter 2021 financial results on May 5, 2021, after market close. The results will be detailed in a press release available on Etsy's investor relations website. Following this, a video webcast conference call will be held at 5:00 p.m. ET to discuss the results, with a replay available after the event. Etsy connects millions of buyers and sellers through its online marketplaces, primarily known for unique and creative goods.
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