Skip to main content

Disclaimer

This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements relating to our potential addressable market, the potential benefits of the acquisition of Depop, the expected impact of the acquisition of Depop on our future financial performance and the potential impact on our consolidated financial results, the anticipated timing of the closing of the acquisition of Depop, the anticipated impact of applying Etsy’s expertise to Depop's business and the potential of Depop's business. 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, 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 Depop or Depop’s relationships with its marketplace community due to the announcement of the acquisition, Etsy’s ability to successfully integrate the acquisition and execute on its business plan and ‘house of brands’ model, general economic conditions and other risks and uncertainties, many of which are beyond our control, that are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, and in any 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 such risks, readers are cautioned not to place undue reliance on such forward looking statements. 

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

Decline  |  Accept
Back to Corporate Site

Press Release Details

Investor Menu
Back to Corporate Site
View all news

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.

Categories: Press Releases
View all news