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Etsy Continues to Grow but Keeps Loosing Money

Etsy Continues to Grow but Keeps Loosing Money

USA
2016-02-26 14:34

Sales on the marketplace for handcrafted goods increased by 24 percent in 2015 as mobile investments are paying of.

Online artisan marketplace Etsy has announced its financial results for its fourth quarter and full year ended 31st of December, 2015. During the full year sales on the marketplace, which the company refers to as gross merchandise sales, increased to $2.39 billion from $1.93 billion in 2015.

Revenue increased by 40%, from $195.6 million in 2014, to $273.5 million in 2015. For the year, the company reported a net loss of $54.1 million, more than double the net loss of $15.2 million in 2014.

Etsy, which went public in April 2015, ended the year with 24 million active buyers and 1.6 million active sellers.

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43% Percent of Purchases Mobile

In 2015 the company launched Etsy Manufacturing. A new service that link Etsy sellers, who often make items by hand, with small manufacturing companies to help them scale their businesses. It has also expanded its operations with crowdfunding and made improvements to both its website and app.

Something that seems to have paid off. In 2015 mobile visits accounted for 61% of the company’s overall visits, and 43% of gross merchandise sales coming from mobile devices.

– We are proud of our progress in 2015. We hit many important milestones that are the building blocks for long-term, sustainable growth, says Chad Dickerson, CEO and Chairman of Etsy.

Jimmy Andersson

Senior editor

Freelance journalist who have gone from covering sports to online retailing. Been writing about e-commerce for four years.

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