Etsy, the eBay for arts and crafts, is set to see $400 million worth of business on its site this year, the New York Times reports.
Of that $400 million, Etsy’s slice of revenue will be in the range of $30-$50 million. It generates revenue from listing fees, processing fees, and other fees like prominent display for what people are selling.
Etsy says it has been profitable for a year now.
Etsy’s $400 million in transactions is puny in comparison to eBay, which is going to do billions in transactions this year.
But, Etsy is focused on a much smaller niche. Generally, it’s hand made crafts.
Last time we checked in with Etsy was November 2009, and its gross sales were $130 million, which means gross sales have more than doubled in the last year.
We also took a photo tour of Etsy’s Brooklyn offices, which you don’t want to miss.
Etsy is in Brooklyn, but not way out in Brooklyn. The York Street subway station exit dumps you under the Manhattan bridge.
But once you're inside, you meet office manager Sarah Starpoli. The framed and signed picture is of former Etsy employee Jakob von Eichel -- now an actor.
This one of the two office dogs. His name is Napoleon. Sorry for the blurry shot. He runs like a deer.
(L to R) Vanessa Bertozzi, Michelle Traub and Alison Feldman power Etsy's blog, which gets about 2 million pageviews per month.
Etsy general council Sarah Feingold lives two blocks from work, in the same building as Busta Rhymes
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