Etsy, Inc. (ETSY) 52nd Annual J.P. Morgan Global Technology, Media And Communications Conference (Transcript) | Old North State Wealth News
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Etsy, Inc. (ETSY) 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference (Transcript)



Etsy, Inc. (NASDAQ:ETSY) 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference Call May 21, 2024 11:30 AM ET

Company Participants

Josh Silverman – Chief Executive Officer

Conference Call Participants

Katy Ansel – JPMorgan

Katy Ansel

All right. We’re going to get started. I’m Katy Ansel, an Internet analyst at JPMorgan. We’re pleased to have with us, Etsy CEO, Josh Silverman.

Etsy operates two-sided online marketplaces that connect buyers and sellers around the world. is the global destination for unique and creative goods made by independent sellers. The company connects over 90 million active buyers with over 9 million connected sellers in nearly every country in the world. Etsy’s primary form of monetization is through marketplace services. The company is on track to generate nearly $13 billion of GMS in 2024 per Bloomberg Consensus Estimates, with $2.8 billion of revenue.

Josh has been CEO for seven years now. And prior to joining Etsy, he held senior leadership positions at American Express, Skype and eBay. Welcome, Josh.

Josh Silverman

Thank you. Thanks for having me. And I’ll just would refer folks to our safe harbor on our website.

Question-and-Answer Session

Q – Katy Ansel

Perfect. So, jumping right in, I mean, looking at recent trends, the macro backdrop has been fairly volatile over the past year-and-a-half or so. So, can you just talk more broadly about the challenges you’ve been facing, what your strategy has been for navigating through them?

Josh Silverman

Sure. And if I can just paint a little bit of context? I’ve been at Etsy seven years now. When I joined in 2017, the conversation about Etsy was it’s about as big as it can be, and there’s a ton of competition and Etsy can’t beat the competition. And at the time, I think we were doing about $2 billion of GMV with maybe $10

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