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Etsy

Retailconsumer goodsecommercemarketplacereseller

Etsy is an e-commerce site and a smartphone application for buying and selling handmade and vintage items. It is focused on handmade or vintage items and supplies, as well as unique factory-manufactured items. The items cover a wide range, including art, photography, clothing, jewelry, food, bath and beauty products, quilts, knick-knacks and toys, as well as beads, wire and jewelry-making tools. All vintage items must be at least 20 years old. The site follows in the tradition of open craft fairs, giving sellers personal storefronts.

Revenue(Q1, 2017)
$96.9 M
Market capitalization(2017-08-18)
$1.9 B
Company Growth (employees)
Type
Public
HQ
Brooklyn, US
Founded
2005
Size (employees)
730 (est)-15%
Website
etsy.com
Etsy was founded in 2005 and is headquartered in Brooklyn, US

Key People at Etsy

Josh Silverman

Josh Silverman

CEO
Rachel Glaser

Rachel Glaser

CFO
Mike Brittain

Mike Brittain

CTO
Linda Kozlowski

Linda Kozlowski

COO

Etsy Office Locations

Etsy has an office in Brooklyn
Brooklyn, US (HQ)
117 Adams St

Etsy Data and Metrics

Etsy Financial Metrics

Etsy's revenue was reported to be $96.9 m in Q1, 2017
USD

Revenue (Q1, 2017)

96.9 m

Gross profit (Q1, 2017)

62.2 m

Gross profit margin (Q1, 2017), %

64%

Net income (Q1, 2017)

(421 k)

EBIT (Q1, 2017)

(2.1 m)

Market capitalization (18-Aug-2017)

1.9 b

Cash (31-Mar-2017)

194.8 m
Etsy's current market capitalization is $1.9 b.
USDFY, 2014FY, 2015FY, 2016

Revenue

195.6 m273.5 m365 m

Revenue growth, %

40%33%

Cost of goods sold

97 m123.3 m

Gross profit

176.5 m241.6 m

Gross profit Margin, %

65%66%

Sales and marketing expense

66.8 m82.8 m

R&D expense

42.7 m55.1 m

General and administrative expense

68.9 m86.2 m

Operating expense total

178.4 m224.1 m

EBIT

(1.9 m)17.6 m

EBIT margin, %

(1%)5%

Pre tax profit

(28 m)(2.9 m)

Income tax expense

5 m(26.1 m)(27 m)

Net Income

(54.1 m)(29.9 m)
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

58.5 m61.4 m65.7 m81.8 m85.3 m87.6 m96.9 m

Cost of goods sold

20.7 m21.9 m24.2 m27.9 m29.1 m29.3 m34.7 m

Gross profit

37.8 m39.5 m41.5 m53.9 m56.3 m58.2 m62.2 m

Gross profit Margin, %

65%64%63%66%66%67%64%

Sales and marketing expense

12.2 m15.5 m16.5 m15.8 m17.2 m18.7 m23.5 m

R&D expense

10 m10.1 m11.4 m12.2 m11.8 m14.9 m18.1 m

General and administrative expense

20.5 m17.6 m15.3 m19.1 m22.5 m21.9 m22.8 m

Operating expense total

42.7 m43.2 m43.2 m47.2 m51.6 m55.6 m64.3 m

EBIT

(4.8 m)(3.8 m)(1.7 m)6.8 m4.7 m2.7 m(2.1 m)

EBIT margin, %

(8%)(6%)(3%)8%5%3%(2%)

Pre tax profit

(25.9 m)(1.4 m)(2.8 m)14.8 m(3.1 m)2 m(1.5 m)

Income tax expense

(10.7 m)(4.1 m)(13.6 m)(4.3 m)(4.4 m)1.1 m

Net Income

(36.6 m)(42.9 m)(49.8 m)1.2 m(6.1 m)(8.5 m)(421 k)
USDY, 2012Y, 2013Y, 2014FY, 2015FY, 2016

Cash

34.9 m36.8 m69.7 m271.2 m181.6 m

Accounts Receivable

26.4 m

Inventories

652 k

Current Assets

359.1 m371 m

PP&E

105 m126.4 m

Goodwill

27.8 m35.7 m

Total Assets

553.1 m581.2 m

Accounts Payable

14.4 m11 m

Current Liabilities

80.1 m84 m

Total Liabilities

236.4 m

Common Stock

113 k116 k

Additional Paid-in Capital

406 m442.5 m

Retained Earnings

(86.4 m)(116.3 m)

Total Equity

330.5 m344.8 m

Financial Leverage

1.7 x1.7 x
USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

268.2 m266.3 m158.4 m167.5 m188 m194.8 m

Current Assets

343.4 m349.3 m340.6 m346.8 m353.4 m355.2 m

PP&E

85.4 m94.7 m116.5 m125.8 m

Goodwill

28.3 m28.4 m28.6 m28.1 m37.8 m36 m

Total Assets

529.1 m538.6 m549.2 m551 m569.2 m530.7 m

Accounts Payable

6 m3.2 m13.6 m7.6 m7.3 m6.4 m

Current Liabilities

52.2 m69.6 m77.4 m74.5 m77.6 m81.2 m

Common Stock

112 k112 k113 k114 k115 k116 k

Additional Paid-in Capital

394.5 m398.6 m411.2 m418 m433.9 m447.6 m

Retained Earnings

(75.3 m)(82.2 m)(85.2 m)(92.6 m)(95 m)(168.2 m)

Total Equity

325.8 m322.8 m329.5 m333 m344.5 m295 m

Financial Leverage

1.6 x1.7 x1.7 x1.7 x1.7 x1.8 x
USDFY, 2015FY, 2016

Net Income

(54.1 m)(29.9 m)

Depreciation and Amortization

18.6 m22.5 m

Accounts Receivable

(6.7 m)(8.2 m)

Inventories

(266 k)(6.2 m)

Accounts Payable

6.7 m(3.6 m)

Cash From Operating Activities

201.6 m46.8 m

Purchases of PP&E

(11.1 m)(36 m)

Cash From Investing Activities

(23.3 m)(135.4 m)

Cash From Financing Activities

199.6 m5.8 m

Interest Paid

342 k2 m

Income Taxes Paid

7.6 m10.6 m
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

(36.6 m)(42.9 m)(49.8 m)1.2 m(6.1 m)(8.5 m)(421 k)

Depreciation and Amortization

4.3 m9.1 m14 m4.7 m9.8 m15.6 m6.9 m

Accounts Receivable

46 k(210 k)(2 m)799 k135 k(1.8 m)1.1 m

Accounts Payable

(419 k)(929 k)(3.5 m)173 k(5.8 m)(6.1 m)(3.4 m)

Cash From Operating Activities

8.9 m13.6 m19 m1.8 m19 m28.2 m3.3 m

Purchases of PP&E

(1.9 m)(4.5 m)(9.5 m)(10.9 m)(26.3 m)(34.2 m)(2.7 m)

Cash From Investing Activities

(6.6 m)(12 m)(18.1 m)(114.4 m)(120.3 m)(112 m)12.4 m

Cash From Financing Activities

1.7 m199.2 m199 m253 k(199 k)3.8 m(2 m)
USDY, 2017

Revenue/Employee

104.2 k

Financial Leverage

1.8 x

Etsy Operating Metrics

Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017May, 2017

Gross Merchandise Volume

$414.83 m$438.47 m$467.2 m$1.93 b$531.92 m$546.2 m$568.79 m$2.39 b$629.85 m$669.7 m$677.22 m$2.84 b$719.04 m

Active Sellers

1.14 m1.19 m1.28 m1.35 m1.43 m1.48 m1.53 m1.56 m1.6 m1.65 m1.71 m1.75 m1.8 m1.8 m

Active Buyers

15.26 m16.49 m18.1 m19.81 m20.84 m21.7 m22.6 m24.05 m25.03 m26.1 m27.14 m28.56 m29.67 m29.7 m

Products Online

45 m45 m

Retailers

25 k

Etsy Market Value History

Etsy Revenue Breakdown

Source: blog.etsy.com, blog.etsy.com

Etsy Median Salaries

Source: 98 public H-1B filings from Etsy

Market Position of Etsy

Competitors

Flipkart
Retail - Private
Snapdeal
Retail - Private
DHgate
Retail - Private
LetsTango.com
Retail - Private
Compare competitors

Traffic Overview of Etsy

Etsy Online and Social Media Presence

Etsy News and Updates

May 18, 2017

The Barbarians Are at Etsy’s Hand-Hewn, Responsibly Sourced Gates

The ur-Brooklyn online craft marketplace is under pressure to start acting more like a conventional, shareholder-focused company.
May 09, 2017

Etsy Needs to Preserve Its Values to Preserve Its Value

For Etsy, the internet's best-known marketplace for all things artisanal, the past week has served up a heaping portion of unpleasant corporate reality. The post Etsy Needs to Preserve Its Values to Preserve Its Value appeared first on WIRED.
May 04, 2017

New York’s unrealistic dream of rivaling Silicon Valley should end with Etsy’s collapse

In 2010, pundits believed New York City was poised to become the next Silicon Valley. “For years, California’s Bay Area has been home to tech…
May 03, 2017

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, TWLO, AAPL, WTW, ETSY, JPM)

Here is what you need to know. Here comes the Fed. The Federal Reserve will release its latest policy decision at 2 p.m. ET. While expectations are low for the Fed to raise rates at Tuesday's meeting, World Interest Rate Probability data provided by Bloomberg shows a 69.6% c…
May 03, 2017

Etsy boots CEO, lays off staff as stock plummets

Etsy is unraveling. The struggling online craft store announced a major shakeup on Tuesday as a dismal earnings report tanked its shares in after-hours trading. Chad Dickerson, the company's CEO of six years, will cede his post to board member John Silverman. SEE ALSO: Etsy proposes 3 ways to im…
May 02, 2017

Etsy names Josh Silverman as its new CEO

 There’s been a shakeup in Etsy‘s leadership, with CEO Chad Dickerson and CTO John Allspaw departing. Josh Silverman, the former Skype and Evite CEO who joined Etsy’s board last fall, is taking over as CEO, while VP of Engineering Mike Brittain will serve as interim CTO. Dickerson (as well as Allspa…
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Etsy Company Life and Culture

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