It’s getting harder these days to find companies with really exciting growth, but there’s one bucking the trend and growing significantly:
Etsy, the platform known for selling bespoke items offered by creators.
Despite the slowing economy, this online marketplace has found a way to beat expectations, drive record revenue to $807 million (up 13% year over year), and, most interestingly, do it by growing the population of men that buy on the platform. Now, some 22 million men are considered active buyers, which equates to nearly 25% of all Etsy active buyers.
In the company’s recent earnings release, Etsy CEO Josh Silverman said that despite significant macroeconomic headwinds, “we maintain the vast majority of our pandemic gains and delivered double digit revenue and excellent profitability for the year.”
Worth noting, he goes on to say, the company said it had an exceptionally strong performance on Small Business Saturday, “which we believe indicates that buyers associate Etsy with shopping small and making a positive impact with their purchases.”
As is the case on other exchanges such as eBay or Amazon, Etsy provides entrepreneurs with a place to sell their unique wares. As their audiences and revenues grow, so does opportunity for entrepreneurs wanting to either create a new business or grow their existing one by selling on one of these platforms.
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