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 third second quarter of 2021 and key drivers thereof, the uncertain impact that the COVID-19 pandemic or its abatement may have on our business, strategy, operating results, key metrics, financial condition, profitability and cash flows, on our product delivery goals, on changes in the overall levels of consumer spending, on e-commerce generally and on volatility in the global economy; the impact of our strategy, marketing and product initiatives on our business and operating results; our future investments, our intended environmental, social and ecological impacts; and the size and our ability to capitalize on our large market opportunity; the anticipated impact of sharing expertise across Etsy’s House of Brands; and the potential impact of our acquisition of Depop and Elo7 on our market opportunity and on Etsy’s future consolidated financial results. Forward-looking statements include all statements that are not historical facts. In some cases, forward-looking statements can be identified by terms such as “aim,” “anticipate,” “believe,” “could,” “enable,” “estimate,” “expect,” “goal”, “intend,” “may,” “plan,” “potential,” “target,” “will,” or similar expressions and 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) our ability to continue our rapid growth; (2) risks related to the ongoing COVID-19 pandemic, which continues to impact our business and results of operations in numerous ways that remain volatile and unpredictable, and risks related to the pandemic’s abatement and return to pre-COVID consumer shopping behavior; (3) the fluctuation of our quarterly operating results; (4) our failure to meet our publicly announced guidance or market expectations; (5) our ability to successfully execute on our business strategy or if our strategy proves to be ineffective; (6) our ability to attract and retain an active and engaged community of sellers and buyers; (7) macroeconomic events that are outside of our control; (8) our ability to recruit and retain employees; (9) the importance to our success of the trustworthiness of our marketplaces and the connections within our community; (10) our ability to enhance our current offerings and develop new offerings to respond to the changing needs of sellers and buyers; (11) the effectiveness of our marketing efforts; (12) the effectiveness of our mobile solutions for sellers and buyers; (13) our ability to expand our business in our core geographic markets; (14) regulation in the area of privacy and protection of user data; (15) our dependence on third-party payment providers; (16) our ability to successfully integrate the Depop and Elo7 acquisitions and execute on our ‘House of Brands’ operating model; (17) acquisitions that may prove unsuccessful or divert management attention; and (18) the potential misuse or disclosure of sensitive information about members of our community and the potential for cyber-attacks. These 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, 2020, and in our Quarterly Report on Form 10-Q for the quarter ending March 31, 2021 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 of this press release. We disclaim any obligation to update forward-looking statements.

Press Release Details

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Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items

July 06, 2021

BROOKLYN, N.Y., July 6, 2021 /PRNewswire/ -- Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced the completion of its previously-announced acquisition of Elo7. The Elo7 marketplace specializes in unique, handmade items, and is ranked as a top 10 ecommerce site in Brazil.

Josh Silverman, Etsy, Inc. CEO, said, "Elo7 is a great addition to Etsy's House of Brands portfolio, which, upon completion of our acquisition of Depop, will include four highly differentiated, non-commoditized and loved ecommerce brands that share similar levers of growth to unlock value. We see significant potential in Brazil's ecommerce sector, which is still in early stages of development and fueled by one of the largest economies in the world.  We believe having a well known local brand will help Etsy, Inc. to better capitalize on this opportunity."

There are a number of similarities between Elo7 and the rest of Etsy's House of Brands portfolio, such as the emphasis on improving search and discovery, building human connections, and making selling and buying easier. As previously announced, the marketplace will operate independently, while benefiting from shared expertise in product, marketing, technology, and customer support.

About Etsy

Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Our primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs. In addition, Etsy, Inc. owns musical instrument marketplace Reverb as well as Elo7, the Brazil-based marketplace for handmade and unique items.

Etsy's mission is to keep commerce human, and we're committed to using the power of business to strengthen communities and empower people. Our company was founded in 2005 and is headquartered in Brooklyn, New York.

Cautionary Statement Regarding Forward-Looking Statements

This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements related to our potential addressable market, the post-closing operations of the Elo marketplace, the potential of Elo7's business, and the anticipated closing of the pending acquisition of Depop.

Forward-looking statements include all statements that are not historical facts. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. These risks and uncertainties include, among others, the possibility that the conditions to the closing of the acquisition of Depop may not be satisfied or waived or that other events may cause the acquisition to not be completed, the potential impact to the business of Elo7 or Elo7's relationships with its marketplace community due to the closing of the acquisition, Etsy's ability to successfully integrate the acquisition and execute on its business plan and "house of brands"' operating model, and general economic conditions and political, regulatory, economic and social conditions in Brazil and Latin America, many of which are beyond Etsy's control, and other risks and uncertainties that are more fully described in Etsy's filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in Etsy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and subsequent reports that Etsy files with the Securities and Exchange Commission. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements.

Forward-looking statements represent Etsy's beliefs and assumptions only as of the date of this press release. Etsy disclaims any obligation to update forward-looking statements, except as required by law.

Contacts:
Investor Relations Contact:
Etsy, Deb Wasser, Vice President, Investor Relations and ESG Engagement: dwasser@etsy.comor
Etsy, Gabe Ratcliff, Director, Investor Relations: gratcliff@etsy.com

Media Relations Contact:
Etsy, Kelly Clausen, Senior Director, Corporate Communications
press@etsy.com

 

Cision View original content:https://www.prnewswire.com/news-releases/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items-301325747.html

SOURCE Etsy, Inc.

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