HISTORY OF ETSY Started by iospace on June18, 2005 Founded by Robert Kalin,Chris Maguire and HaimSchoppik From the Italian “etsi,”meaning “oh yes.”
Online marketplace (p2p =people to people) Mostly DIYs (15 million in150 countries) Products listed for $.20 Once product sells, Etsycharges 3.5% fee on priceof item Offices in Brooklyn, SanFrancisco and BerlinOVERVIEW
DECENTRALIZATION Considered a decentralizednetwork Non-linear: Users can connectwith one another (users), as well ascentral node (Etsy) Adaptive: Organizes self throughfunctions Self-organized: Users learn tocreate stores, pages Organized complexity: “Bottom-up” properties emerge, includingpage marketing, pricing,branding, etc.
Competitors: Artfire, BigCartel, Bonanza, Cargoh,Coriandr, DaWanda, Folksy,iCraft, Made it Myself, Not onthe High Street, Storenvy,Supermarket, Yokaboo,ZibbetCOMPETITORS AND PARTNERS Partners: Nordstrom, WestElm. Paypal for payments
Other Partners (socialmedia): Pinterest,Facebook, Twitter,Google, Flickr, etc.COMPETITORS AND PARTNERS
Investors: Union SquareFunding (Flickr), AccelPartners and IndexVentures Users: Buyers, Sellers /Stores Employees of EtsySTAKEHOLDERS
Sellers set up “Etsy stores” to sellproducts, provide inventory(posted for sale) Buyers purchase products fromEtsy stores, bringing buyers andsellers together from all over theworld. Etsy charges fees, maintains site Investors contribute funds toallow growth Etsy created pages for “groups”and “teams” to connect to sellproducts together Etsy stores create products forbranding to other Etsy storesHOW ETSY WORKS