In a report by Business Insider, Etsy chief executive Chad Dickerson said he is not interested with planning an initial public offering for the e-commerce company. Dickerson also added that there is no pressure from Etsy's investors to divest through a public listing or a share sale. It is to note, however, that the e-commerce company had received a total of USD91.7 million in investments in a span of eight years.
Dickerson emphasized the need for Etsy to focus on its merchants, as it had been clearly its main source of income. Etsy charges a single merchant product listing fee of USD0.20 for a duration of 4 months and 3.5% off of the product's retail value should it be sold. Its 2012 revenue was at USD895 million, a 70% increase from the previous year.
Etsy recently released a guide to determine how a product is deemed handmade this week. Plans to improve its call center services would be in the works, and additional staff hiring would be done in the next few months, Dickerson said. Dickerson also disclosed that it would be planning for strategies to improve its mobile sales, considering that most consumers are now using their smartphones more than computers for everything. "We need to figure out the best way to get people to buy on mobile. That requires experimentation," Dickerson said.
Join the Conversation