While the stock keeps tanking, Etsy's marketplace is hitting record highs like a grand slam home run in the second quarter and CEO Silverman is all in on transforming Etsy into an organized, curated and reliable shopping wonderland. Etsy is already pulling some serious moves to amp up that buyer experience. They're revving up that 'Suggested' filter, putting listings with all the juicy details and top-notch reviews right up front.
They brought in 6 million fresh buyers, got 21% more previous buyers back in action than before, and held onto active buyers.
When it comes to their revenue growth, their secret sauce behind it is Etsy Ads. They're on a mission to turbocharge those paid ads like never before, tapping into multiple data retrieval systems, like assembling an all-star team to make those ads pop. We're talking a whopping $628.9 million in consolidated revenue – up by a solid 7.5% compared to the same quarter last year.
Thoughts?
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