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Etsy is a global creative commerce platform. We build markets, services and economic opportunity for creative entrepreneurs. Within our markets, millions of people around the world connect, both online and offline, to make, sell and buy unique goods. We also offer a wide range of Seller Services and tools that help creative entrepreneurs start, manage and scale their businesses. Our mission is to reimagine commerce in ways that build a more fulfilling and lasting world, and we're committed to using the power of business to strengthen communities and empower people.
Etsy was founded in 2005 and is headquartered in Brooklyn, New York.

https://www.etsy.com
 

Etsy, Inc. Reports First Quarter 2017 Financial Results

Announces CEO Transition
BROOKLYN, N.Y., May 2, 2017 /PRNewswire/ -- Etsy, Inc. (NASDAQ: ETSY), which builds markets, services and economic opportunity for creative entrepreneurs, today announced financial results for its first quarter, ended March 31, 2017.

Senior Leadership Transition

The Company also announced that the Etsy Board of Directors has appointed Josh Silverman, a director on the Board since November 2016, as CEO, effective May 3, 2017. Josh succeeds Chad Dickerson, who will step down as CEO and Chair of the Board of Directors. Chad will serve in an advisory role to the Company through May 31, 2017. Fred Wilson, who joined the Etsy Board in June 2007 and has served as lead independent director since October 2014, will succeed Chad as Chair of the Board.

As the new CEO of Etsy, Josh has two decades of product development, marketing and e-commerce expertise. His deep industry experience includes leading and growing consumer technology companies and scaling global marketplaces. Josh previously served as President of Consumer Products and Services at American Express. Before American Express, Josh was CEO of Skype, CEO of shopping.com, an eBay company, and held various executive roles at eBay. He was also a co-founder and CEO of Evite, Inc. and he currently serves on the board of directors of Shake Shack.

Fred said, "Etsy is very fortunate to have Josh stepping into the CEO role at this time. He brings twenty years of senior leadership in technology and marketplace businesses to Etsy. In the six months that Josh has been on our Board, we have gotten to know him well and he has gotten to know us well. That will make for an easier transition and faster execution. I am pleased to be appointed Chair of the Etsy Board and I am looking forward to working closely with Josh and the leadership team to help Etsy capitalize on its significant growth opportunities."

Fred added, "On behalf of the Board and the entire Etsy team, I want to thank Chad for building Etsy into the wonderful company that it is. Over the last six years as CEO, Chad has transformed a chaotic startup into a world class company, and in the process grew the revenues our sellers make over nine times, the revenues Etsy generates almost fourteen times and the operating profit Etsy generates almost fifteen times. And in doing that, Chad never lost sight of the original vision and the unique culture that makes Etsy the very best home for creative entrepreneurs. We have benefited greatly from his leadership."

Josh said, "I have a deep appreciation for the mission of Etsy and the unique role that it plays in global e-commerce. Our focus will remain on delivering value to our community, including our shareholders. Having worked at other marketplaces, I recognize how difficult it is to create a differentiated value proposition for buyers that provides a unique opportunity for sellers—and Etsy has done that. In the coming weeks, I look forward to listening and learning from our employees, sellers, buyers and shareholders to help ensure we are focusing on the most value-enhancing near- and long-term opportunities."

Chad said, "It has been an honor to lead Etsy as CEO for the past six years and the three years before that as CTO. The Board decided that it was time for new leadership to take Etsy forward and I support that decision. I deeply admire and respect each and every person on the Etsy team who has worked so hard during my tenure to deliver a great experience for Etsy buyers and economic empowerment for creative entrepreneurs around the world. I have the greatest degree of confidence in the long-term growth opportunities for Etsy under Josh's leadership. I wish the company and the community the greatest success and look forward to supporting the global community of Etsy sellers as a regular buyer after the transition."

In addition, the Company also announced that John Allspaw, Chief Technology Officer, will be leaving the Company and Mike Brittain, VP of Engineering, will be named interim CTO. Mr. Allspaw will serve in an advisory role to the Company through May 31, 2017.


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