Wednesday, January 30, 2008

Etsy.com is Making a Move, Secures $27 Million

Etsy is an online commerce site for Handmade and Craft items and has really developed a very nice loyal following and apparently they are close to break-even and now getting ready to grow. According to CNET:

"Co-founder Robert Kalin announced in a blog post Wednesday that the company has picked up an impressive $27 million in Series D financing.

The venture funding comes from existing investors Union Square Ventures and Hubert Burda Media, as well as Accel Partners' Jim Breyer, who will take on a seat on Etsy's board of directors.
Etsy is "almost break-even" when it comes to profits, Kalin admitted in his blog post, but it does have 650,000 registered users, 120,000 of whom are classified as "sellers." The company employs about 50 people, and last year opened the Etsy Labs community space in a converted industrial space in Brooklyn."

Please read the entire post at CNET.

The question I have about Etsy, could this site become another StubHub type acquisition for eBay or possiblyAmazon, if they wanted to go after the Marketplace business and use Etsy to reach out to all of the disaffected collectibles and small eBay sellers.

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