Etsy shares saw growth as revenue reached about $200m (£153m) in the last three months of 2018. That’s up 47% on year-on-year (YoY) rate.
Etsy have reported strong growth in crafts and artisan goods by 6% in after-hours trading following the marketplace’s announcement on the increased revenues during the festival season. The figures mark Etsy’s strongest year of revenue growth since 2015 when they first appeared on the stock exchange market.
The percentage of shoppers buying from the marketplace have increased by 18%, and active sellers grew by 9%.
Commenting on the results, Josh Silverman said that executives believe the firm’s 2018 expansion surpassed the overall ecommerce market. He simply said: “We are gaining share.”
In 2017, Josh Silverman became Etsy’s CEO, and the business made job cuts as they aimed to manage losses and stay on top of the competition.
However, in the 12 last months, Etsy’s share price has almost tripled from about $21 (£15) to about $59 (£44). In 2018, Etsy said to have sold $4bn (£3bn) worth of products. That’s up by more than 20% from 2017 results. The increased shopper activity contributed to about $600m (£454m) in 2018 revenue. That’s by more than 36% on YoY rate.
