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Disclaimer

This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements relating to our financial guidance for the second quarter of 2023 and underlying assumptions and key drivers; our “vital few” initiatives and their ability to re-accelerate growth and increase our value proposition; our product development and marketing initiatives and their ability to improve customer experiences, engagement, increase customer spend and enhance our brand perception and awareness; our ability to attract, engage, retain and grow buyers and sellers; our investment approach and its positive impact on our growth and profitability; our ability to grow market share; our ability to re-accelerate our GMS/active buyer metric; the future of search on our marketplaces; and our ability to navigate the global macroeconomic uncertainty and volatility. Forward-looking statements include all statements that are not historical facts. In some cases, forward-looking statements can be identified by terms such as “anticipate,” “believe,” “could,” “enable,” “estimate,” “expect,” “goal,” “intend,” “may,” “outlook,” “plan,” “potential,” “target,” “will,” or similar expressions and derivative forms and/or the negatives of those words.

Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those that we expect. These risks and uncertainties include: (1) the level of demand for our services or products sold in our marketplaces and our ability to support our recent growth; (2) the importance to our success of the trustworthiness of our marketplaces and our ability to attract and retain active and engaged communities of buyers and sellers; (3) risks related to the COVID-19 pandemic; (4) the fluctuation of our quarterly operating results; (5) our failure to meet our publicly announced guidance or other expectations; (6) if we or our third-party providers are unable to protect against technology vulnerabilities, service interruptions, security breaches, or other cyber incidents; (7) our dependence on continued and unimpeded access to third-party services, platforms, and infrastructure; (8) macroeconomic events that are outside of our control; (9) operational and compliance risks related to our payments systems; (10) our ability to recruit and retain employees; (11) our ability to compete effectively; (12) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (13) our ability to demonstrate progress against our environmental, social, and governance Impact strategy; (14) our efforts to expand internationally; (15) our ability to successfully integrate and receive the expected benefits from the Depop and Elo7 acquisitions; (16) acquisitions that may prove unsuccessful or divert management attention; (17) regulation in the area of privacy and protection of user data; and (18) litigation and regulatory matters, including intellectual property claims. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022, and subsequent reports that we file with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur.

Forward-looking statements represent our beliefs and assumptions only as of the date hereof. We disclaim any obligation to update forward-looking statements.

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Nurturing a culture of diversity and inclusivity has always been a part of Etsy’s DNA. We welcome people of all backgrounds and walks of life into our community as buyers, sellers, employees, and business partners. Embracing diverse perspectives makes us stronger, more resilient, and enables us to be the best we can be.

Learn more about our Guiding Principles

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Our 2023 Social Goals

Employee Diversity, Equity, and Inclusion:

Build diverse and inclusive work forces that are broadly representative of their communities

  • Etsy.com: Approximately double the percentage of U.S. employees at Etsy.com who identify as Black, Latinx, or Native American by year end 2023.
  • For Mexico and Ireland-based Software Engineering teams, achieve approximately two times country-level gender representation benchmark for women and marginalized genders by year end 2027. Mexico target: 13%. Ireland target: 16%
  • In 2023, Etsy is committed to scoring an 80 or higher on Disability: IN's Disability Equality Index.
  • Reverb: Reach gender parity at Reverb by year end 2026 (increasing women and marginalized genders to at least 50% by year end 2026).
  • Approximately double the percentage of U.S. employees at Reverb who identify as BIPOC by year end 2026. (Note: Reverb’s definition of BIPOC includes Black, Latinx, Native American, Asian and two or more races)
  • Depop: Achieve 35% of underrepresented ethnicities in global headcount by year end 2028 (baseline December 31, 2022: 30%) (Note: Depop defines underrepresented ethnicities as Asian, Black, Mixed and staff identifying as ‘Other,’ including Latinx in the United States. To establish which ethnicities are underrepresented at Depop, we considered census, workforce and benchmarking data as well as our aim to be a progressive workplace.)
  • Achieve 27% of underrepresented gender identities in engineering & data by year end 2028 (baseline December 31, 2022: 20%)
  • Enhance and expand accessibility efforts by defining a KPI and establishing a baseline for accessibility in the employee experience at Etsy.com, Reverb, and Depop.

    • Supplier Diversity, Equity, and Inclusion:

    Create an equitable and sustainable supply chain that supports our “House of Brands” while reducing our carbon footprint, supporting diverse businesses and bringing new economic opportunities to our suppliers and their employees.

    • Etsy.com, Reverb, Depop: Achieve $120 million in cumulative diverse* supplier spend by year end 2025.

    Creative Community Diversity, Equity, and Inclusion:

    Build Marketplaces that are Diverse, Welcoming and Inclusive Places to Sell and Shop, and Drive Equity within Creative Communities.

    • Etsy, Inc.: In 2023, set a 5-year public target for how many economically disenfranchised, creative businesses we will strengthen through our investments in social impact and innovation.
    • Etsy.com: Aim to include at least 45% Black and Brown skin tones in marketing assets on Etsy-owned and Etsy-managed channels in the United States.
    • In 2023, set a 5-year public target for the promotion of underrepresented seller shops through merchandised experiences that broadly aligns with representation in our communities.
    • Depop: Aim to invest in programs or initiatives that drive equity for underrepresented communities on Depop.

    Our employees get to lead, drive change, and share their ideas—regardless of seniority, tenure, or title. Etsy.com Employees are invited to grow both their professional skills and creative interests through unique employee programs and opportunities. Our benefits include comprehensive health plans, generous parental leave, locally sourced food and more.

    Benefits & well-being Benefits & well-being
    Diversity & inclusion Diversity & inclusion
    Employee resource group program Employee resource group program

    Our Board of Directors also affirmed its dedication to diversity in 2020, committing to actively seek out diverse director candidates to include in the pool from which Board nominees are chosen.

    Talent Acquisition and Development

    Recruitment

    Talent Acquisition

    Our Talent Acquisition team is focused on bringing top diverse talent to Etsy. The team manages the applications that come through our Careers page, and also actively engage qualified candidates. The Talent team also attends various conferences focused on diversity and inclusion that serve underrepresented populations. We also at times host recruiting events within these conferences to ensure we are networking and meeting as many candidates as possible to continue to support our diversity hiring goals. All interviewers are trained on hiring with diversity in mind to ensure we are mitigating any potential bias in our interview processes.

    We strive to create a consistent and positive experience for every candidate interviewed at Etsy.

    Development

    We are committed to ensuring fair and equitable opportunities at Etsy, which means that all employees should have a clear understanding of their functional responsibilities and performance expectations. Systematic performance tools help ensure that decision-making processes are objective and unbiased, while Etsy's Competency Matrix provides clear and concise expectations for each employee level and guides performance assessments and career development.

    Development
    Retention

    Retention

    We want to ensure that employees are fairly and consistently recognized for their hard work and valuable contributions. Great work is appreciated and rewarded in many different ways at Etsy, including but not limited to compensation. We continuously conduct assessments to ensure that compensation is staying competitive and fair relative to performance. We review factors like age, race, and gender in our review process to monitor for fairness.

    Compensation Philosophy

    Competitive, Market- Based Compensation

    Etsy has developed total cash pay bands (base pay + bonus) by matching our jobs to competitor jobs in the market using local market data. This data is refreshed quarterly to stay current. We reassess our roles considering that markets, competition, and associated salary expectations can change rapidly.

    Pay for Performance and Variable Pay

    Etsy has a rigorous and intentional performance management program. We are well equipped to reward performance with compensation in a results-driven way. Our bonus program gives everyone in the company the opportunity to realize additional performance-based pay when an employee and the company have performed successfully. Our goal is to link employee contributions to our success, and associated rewards, in a tangible way.

    Equity and Employee Engagement

    Equity is critical to Etsy’s investment in our employees and our employees’ investment in the long-term success of Etsy. Equity is awarded to virtually all employees based on market data.

    Equitable Compensation

    Etsy commissions a third-party consulting firm to conduct a review of pay equity on a biennial basis.The most recent view in 2022, consistent with prior years review, revealed no unexplained pay gaps adverse to women or employees from other marginalized genders, or non-white employees

    We are committed to ensuring that fair and consistent pay practices are applied across our organization. We take strides to ensure that pay is internally equitable, fair, and accurately differentiated. We align pay for each employee’s position with the responsibilities, knowledge, complexity, and impact of the role within the company. To that end, we have created guidance, specific to ratings and pay, that is part of our performance management program and conduct regular monitoring of compensation outcomes related to performance.

    Learn more about working at Etsy