The Ledger
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Franklin: Etsy raised seller fees 30% while announcing record corporate profits
“So this all really got started when they increased their fees a second time by 30% in 2022 and they announced that fee increase in the same week that they announced record profits.”
Kalin: My Etsy shares were locked up for one year post-IPO
“And then once NC went public, my shares were locked up for a year anyways, while the share price was falling.”
Kalin: I held under 5% of Etsy at the time of its IPO
“I didn't have a huge amount, you know, and the company went public. I didn't even make the threshold of shareholders with over five percent that you have to disclose.”
Kalin: Etsy generated $1 million in sales in its first year
“In the first year of business, we did a million dollars in sales, and that seemed like quite a lot, and this was all being driven by the more organic traffic of the early web, you know, being written up on blogs like Boing Boing.”
Kalin: Etsy approached profitability and faced little pressure during the 2008 recession
“So there really wasn't much of any financial pressure on the business building it through the recession. And it was approaching profitability at this point.”