The, Young Entrepreneurs, Robert Kalin, By Chris Maguire
1553 Words7 Pages
In 2005, young entrepreneurs, Robert Kalin, Chris Maguire, Haim Schoppik and Jared Tarbell created a company that would give the makers of the world an online platform to sell their goods in Brooklyn, New York. The companies mission was to be the middleman between artists, crafters of handmade items or collectors of vintage products and their worldwide customers. Products sold on Etsy cover a wide range of categories, from art, clothing and jewelry to decorative objects and arts and crafts supplies. The company is effectively engaging in C2C (customer to customer) or P2P (peer to peer) e-commerce, where both the seller and buyer are private persons, as opposed to other forms of Internet commerce, such as B2C (business to customer) or B2B…show more content… ETSY’s valuation was at “$1.8 Bn and raised over $237 million in IPO proceeds” (Bloomberg.com). Just than a month later, the stock dropped 8% and ETSY is now trading for around $20 a share. Their IPO is considered to be a short-term failure, but with huge potential upsides in the future.
Chad Dickerson Chairman, Chief Executive Officer and President
Robert Kalin Co-Founder
Jared Tarbell Co-Founder
Kristina Salen Chief Financial Officer
John Allspaw Senior Vice President of Infrastructure and Operations
• The lifeblood of ETSY. Customer loyalty and satisfaction is what continues to drive ETSY’s growth and evolution. People need to buy what the sellers are selling in order to operate the business.
• The general public are the shareholders of ETSY. Their IPO has a total worth of 3.3 billion. Fidelity investments and its subsidiaries own over 4 million shares of ETSY and are the majority shareholders. The shareholders want to see more growth and modernization within the company so they can beat out competitors like EBay and Amazon.
• ETSY currently has “717 employees” (Etsy.com) who manage the data traffic, check for fraud, make sure everything is legal and run the day-to-day operations of the site and app.
• Amazon, EBAY, other E-commerce sites
Etsy has seen enormous growth since starting in 2005. Within 2 years, the website had over one million