Success Story of Online Marketplace Etsy

Online Marketplace Etsy

An Online marketplace is a web portal where selling and purchasing is performed over internet. There are number of online marketplaces but an online marketplace which created difference from others is Etsy.

Etsy is an online marketplace which allows people to sell their handcrafted and vintage items. It was founded by Robert Kalin, Jared Tarbell, Chris Maguire and Haim Schoppik in year 2005. Now it’s a billion dollar company. Behind their success, business model of the company worked, though they faced many challenges. So let’s talk about their business model.

Partners: Etsy have partnership with community and business alliances, local organizations and businesses, third-party developers and e-commerce apps like West Elm.

Key Activities: Founders build an Etsy community. Company also provides seller education in which they tell sellers how to use the portal and how can they make profit from website. Company has created tools to streamline the sales process.

Value Proposition: It’s free to register on Etsy and simple to set e-commerce accounts of sellers. Etsy provides high-quality products by artisans and small merchants. Today Etsy has covered almost 200 countries in the world. Thus it’s been a largest online community of handmade products.

Customer: Sellers of all handcrafted items, in which fashion, art and jewelry is among most popular segments. Etsy has young demographic of 67% females. All global customers who want to buy high quality handmade items from local or small producer.

Meanwhile, Etsy has faced lots of challenges. In February 2008, many Etsy sellers were not satisfied with handling of complaints about stores. In July 2008, Rob Kalin left his position of CEO and appointed Maria Thomas for the position. After this, in August 2008, some longtime employees left the company. in Sept 2008, they hired Chad Dickerson for CTO position and in 2011 became CEO. After that Etsy never looked back.

It’s not the end of the story, there are lot more things to know about Etsy. You can go through the infographic which contains more interesting information about Etsy.

Online Marketplace Etsy
Source: Cloneshope
Myself, Vaibhav S is a Founder and Editor-in-Chief of TechnoGiants, working Software Professional, and an avid lover of Software's and Web Services. I love computers and also love to write and share about Tech-related Stuff, Computers etc with others.
Back To Top
Content Writing
5 Career Opportunities to Start Your Content Writing Career
Ghostwriter
7 Secrets to Finding the Perfect Ghostwriter for Your Business
Article Writing
6 Quick Tips to Improve Your Article Writing – A Writer’s Guide
Scale
7 Ways Blogging Can Help You Scale Your Business
Keyword Stuffing
Creating SEO-Friendly Content: 7 Methods to Avoid Keyword Stuffing in 2024
Local SEO
5 Proven Local SEO Techniques for Small Business Growth
Link Building
Local Link Building: Strategies for Attracting Quality Backlinks
Mobile-Friendly
10 Tips to Make Mobile-Friendly Website: The Key to SEO Success
Instagram Influencer Marketing
Harnessing The Power Of Instagram Influencer Marketing For Brand Awareness
Instagram Ads
8 Proficient Instagram Ads Strategy: How to Capitalize Your Brand on the Platform
Instagram Store
9 Proven Tips To Optimize Your Instagram Store For More Customers
Instagram Advertising
7 Essential Tips to Magnify Your Success with Instagram Advertising
Artificial Intelligence
Understanding Artificial Intelligence: Massive Impact on Industrial Sectors
Voice User Interface
Voice User Interface: 7 Best Benefits in Web Design
AI Tools
10 Mind-Blowing AI Websites That Will Revolutionize Your Everyday Life
Environmental Issues
Is It True That Science and Technology Are Behind Environmental Issues?
Website Freshness
Curious About Website Freshness? Learn 5 Expert Hacks
Multi-user Website
Multi-user Website on WordPress: 8 Powerful Steps Creation Guide
WordPress VS Laravel
WordPress VS Laravel: Which is Best to Use in 2023?
Readability Score
6 Killer Tips to Improve Readability Score on WordPress?