Etsy is an innovative online retailer. On April 16, 2015, Etsy had a successful IPO (initial public offering), which valued the firm at $3.3 billion as of the end of the day.
Its company philosophy is described at its Web site:
“Etsy is a marketplace where people around the world connect, both online and offline, to make, sell, and buy unique goods, The heart and soul of Etsy is our global community: the creative entrepreneurs who use Etsy to sell what they make or curate, the shoppers looking for things they can’t find anywhere else, the manufacturers who partner with Etsy sellers to help them grow, and the Etsy employees who maintain and nurture our marketplace.”
“Discover handmade items, vintage goods, and craft supplies you can’t find anywhere else. Get curated recommendations tailored to your taste. Find boutiques, craft fairs and flea markets where you can shop from Etsy sellers offline.”
What makes Etsy especially unique is its status as a “B” corporation:
As a Certified B Corporation, we view our social, environmental, and business goals as inseparable. Some call this ‘business as unusual,’ but around here it’s just business. We don’t just recycle and compost in every office, we know exactly how much our trash weighs and we bike our compost to community farms every week. We provide entrepreneurial training for artisans looking for new ways to support themselves and their families. We give our employees five days a year to spend volunteering in their communities. And that’s only what we have room to mention here.”
Look below to see one what analyst (NBR) has to say about the firm’s business model.