How Etsy is giving AI to its army of 5 million artisan-entrepreneurs to build the anti-Amazon:
Josh Silverman is using cutting-edge technology to transform Etsy from a hippie flea market into a Wall Street hero—without losing its soul.April 2, 2020, during the chaotic early days of the pandemic, Etsy CEO Josh Silverman awoke to a sales shock.
The team was split. Some saw the face mask market as a fad. To others, it offered a chance for Etsy to show off the power and flexibility of its decentralized, nearly 3 million–strong seller community. “This was our Dunkirk, where we could mobilize cottage industry to come to the rescue,” says Silverman, who is 52. “The world’s supply chains had locked up. You couldn’t get face masks. Yet Etsy’s supply chain was just two hands making.
Since Covid’s March 2020 lows, Etsy shares are up some 600%, torching the Nasdaq , eBay , Walmart and Amazon . The 16-year-old company is worth just shy of $30 billion. Active buyers and sellers on Etsy have doubled to 90 million and 5 million, respectively. As with most digital retailers, growth has slowed in the second half of 2021 as the economy has reopened, but analysts are betting Etsy will hit a 30% sales increase in 2021.
Raised in Ann Arbor, Michigan, Silverman got a BA in public policy at Brown in 1991, worked for progressive New Jersey Senator Bill Bradley and later earned a Stanford MBA. In 1998 he cofounded Evite, the online invitation manager, before spending five years leading eBay marketplaces abroad. He turned around a struggling Skype in 2008 and later ran American Express’s credit-card business from 2011 to 2015.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Salesforce Billionaire Marc Benioff Pledges $200 Million For Reforestation, Climate EntrepreneursAhead of a big U.N. climate summit, Benioff and his wife Lynne say they are donating to the 1t.org tree planting project and investing in “ecopreneurs” working to reduce emissions. Salesforce will also donate $100 million over a decade toward climate justice.
Les mer »
Opinion | Biden’s Build Back Better proposal gives away the Democrats’ gameOpinion by Henry Olsen: Biden’s Build Back Better proposal gives away the Democrats’ game
Les mer »
How ‘Army of Thieves’ Director Matthias Schweighöfer Wound Up in Zack Snyder’s ArmyThe actor and director, already a hitmaker in Germany, takes on his biggest stage yet with the 'Army of the Dead' spinoff as he reflects on the journey that brought him here.
Les mer »
Janet Gurwitch: Beauty Entrepreneur, Baseball Aficionado.LauraMercier founder Janet Gurwitch spoke to WWD about her hopes of adding to her collection of World Series rings.
Les mer »
Artisan Jewellery: The Best Christmas Gifts for Women 2021 / 2022 » Fashion AllureChristmas may still be a couple of months away, but shopping for Christmas presents is already in full swing. As per stats, around 57% of people do their Christmas shopping between October and November to avoid the last-minute rush. So, why not be like the majority to save yourself from the guilt of leaving it to the last moment and buying whatever you get!
Les mer »
19 Actors Who Made A Massive Impact With Less Than 10 Minutes Of Screen TimeYou give Cher seven minutes, and she’ll give you the world.
Les mer »