Etsy announced a solid third quarter on Monday, posting earnings of 21 cents per share and revenues of $106.4 million. International gross merchandise sales surged 34 percent, said the craft-focused portal.
Amazon is delivering a direct blow to Etsy with the announcement of its Handmade Gift Shop. Serving as a separate storefront, it stocks thousands of handcrafted items for special celebrations and milestones.
E-com game-changer Stitch Fix has reportedly hired investment banks for an IPO that could value the US personalized fashion retailer between $3 billion and $4 billion. It would the biggest US e-commerce IPO since Etsy.