"Etsy has faced challenges in growing its business and may be looking to Goyal's experience leading Depop to help revive growth. In its third quarter ended September 30, the number of active buyers on Etsy fell 5% to 86.6 million from a year earlier. The company experienced a user boycott in July after allowing the sale of merchandise branded with "Alligator Alcatraz" on its site."
"Kruti Patel Goyal, Etsy's president and chief growth officer, will become the company's next CEO. Silverman, who headed the marketplace for eight years, will become its executive chairman. Goyal worked at Etsy for more than 10 years until she was named the CEO of social-commerce platform Depop, which Etsy bought four years ago. She has been in her current role for about seven months."
"In its third quarter ended September 30, the number of active buyers on Etsy fell 5% to 86.6 million from a year earlier. The company experienced a user boycott in July after allowing the sale of merchandise branded with "Alligator Alcatraz" on its site. Sellers on Etsy declined by 10.9% to 5.5 million in the third quarter, compared to a year earlier."
Josh Silverman will step down as Etsy CEO by year-end and will become executive chairman. Kruti Patel Goyal, Etsy's president and chief growth officer, will become CEO. Goyal spent more than ten years at Etsy, led Depop after being named its CEO, and has held her current role for about seven months. Etsy's active buyers fell 5% to 86.6 million in the third quarter, sellers declined 10.9% to 5.5 million, and GMS dropped 2.4% to $2.4 billion. Depop's active sellers rose 40% to 3 million, active buyers rose 38% to 6.6 million, and GMS jumped 39.4% to $292.1 million. Etsy shares fell nearly 9% after the announcement.
Read at TechCrunch
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