Who Owns Etsy? The People Behind The Company
Etsy, one of the most popular e-commerce marketplaces is known for its wide range of handmade, vintage, and craft products.
If you’re curious about who owns Etsy and how this global marketplace came to be, you’ve come to the right place.
In today’s post, I’ll be sharing who owns Etsy and the history behind it.
Who founded Etsy?
Etsy was founded in 2005 under the innovative minds of Robert Kalin, Haim Schoppik, and Chris Maguire.
An entrepreneurial venture that began under an existing establishment, Etsy was fully operational within a short span of two and a half months.
Since then, Etsy has experienced massive growth, extending its reach by acquiring other online marketplaces and e-commerce platforms.
Etsy, Inc., based in Brooklyn, New York, is the umbrella organization that controls Etsy.
Some of Etsy’s offsprings include Reverb, a niche marketplace for musical instruments and equipment, and Depop, an online platform catering to vintage fashion and secondhand clothing lovers.
As of the third quarter of 2023, Etsy’s largest stakeholder is Bares Capital Management, Inc., with Citadel Advisors LLC and Amundi Asset Management US, Inc. following in shares.
Astoundingly, about 89% of Etsy shares are held by institutional investors, while the remaining 11% is owned by retail investors.
The primary governing body of Etsy is the Board of Directors, Chairman Fred Wilson and comprising members like Edith Cooper, Melissa Reiff, and Michele Burns.
The Executive Team, headed by CEO Josh Silverman, takes on the responsibility of dealing with the everyday operations of the establishment.
Who owns Etsy?
Josh Silverman is currently the CEO of Etsy. In May 2017, Silverman was appointed CEO over Chad Dickerson.
The ownership structure of Etsy has seen changes and development over the years.
In 2015, the company was made public and released 16.7 million shares priced at $16 per share.
The current state of Etsy
Etsy is now chiefly owned by institutional investors, including financial heavyweights The Vanguard Group, BlackRock, and T. Rowe Price.
As of December 2023, The Vanguard Group, Inc. holds the lion’s share of Etsy’s outstanding shares.
The financial health of Etsy is under constant vigilance, and the main sources of its revenue are marketplace fees and the sale of additional services to sellers.
Etsy reported total revenue of $617.4 million with a consolidated take rate of 17.1% by the end of the fourth quarter in 2020.
Etsy, being a publicly traded company, was valued at $45.6 billion as of December 9, 2023, marking a significant upswing from its initial public offering in 2015.
The company’s share price can, however, fluctuate based on market conditions and regulatory alterations.
Etsy operates within a framework of regulations and laws, including securities regulations, tax laws, and corporate governance guidelines.
Etsy strictly follows the Securities Act of 1933 and the rules prescribed by the New York Stock Exchange, thereby ensuring transparency and fairness in its operations.
In summary, Etsy is backed by a diverse group of investors, both institutional and retail, with Bares Capital Management, Inc. holding the major share.
Since 2005, Etsy has shown tremendous growth, broadening its scope through strategic business acquisitions.
Being a public company, Etsy’s financial health is meticulously watched, and its market value has consistently risen over time.
Etsy’s compliance with prescribed regulations guarantees a transparent and fair business structure.
Since then, Etsy has evolved into a global wide, e-commerce platform. W
ith that said, the original founders of Etsy played a significant role in shaping Etsy into what it is today, even though they might not hold the majority of the shares anymore.
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