Based in Brooklyn, New York, Etsy, Inc. (ETSY) operates two-sided online marketplaces Etsy.com and Reverb.com that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. The company’s offering includes handmade and vintage items, art, and supplies, alongside regular clothing, housewares, and more.
ETSY’s business has thrived during the pandemic as stuck-at-home have shoppers turned to online retailers for essential and non-essential items. ETSY’s face mask sales boomed and contributed significantly to its gross merchandise sales. Furthermore, in its most recent quarter, the company topped Wall Street estimates of its top and bottom lines. However, the company delivered lower than expected revenue guidance for the fourth quarter, causing its shares to dip in price. In addition, retailers are still dealing with global supply chain woes. Although chief executive Josh Silverman claimed that the company is immune to the crisis, many of its sellers shared their worries about their businesses struggling to source required materials.
