All articles tagged with #etsy
BTIG reports that the deal with OpenAI positions Etsy at the forefront of agentic commerce, highlighting a significant advancement in the integration of AI technology into e-commerce platforms.
OpenAI's ChatGPT now allows users to purchase goods directly from Etsy and Shopify through the chatbot, aiming to generate new revenue streams in online shopping by integrating payment systems like Stripe for seamless transactions, while maintaining unbiased product rankings.
Etsy's focus on improving its app has led to increased sales, with app-based gross merchandise sales surpassing non-app sales, and the company is leveraging AI for better product curation, all amid a slightly healthier consumer spending environment.
Following Andy Byron's kiss cam scandal at a Coldplay concert, humorous T-shirts mocking the incident are being sold online, highlighting the viral moment where Byron was caught cuddling with Kristin Cabot on camera, leading to Byron's resignation from Astronomer.
Nvidia and Royal Caribbean stocks rose after reporting strong financial results and raising profit forecasts, while Rivian and Etsy stocks fell due to disappointing production and earnings reports. Other companies such as Synopsys, Dutch Bros, Kaiser Aluminum, and Moderna also experienced notable stock price changes based on their financial performance.
After hours, Nvidia, Etsy, Rivian, and Lucid Group are among the stocks making significant moves, with Nvidia's shares rising after the company reported better-than-expected earnings and revenue, while Etsy's stock fell despite beating earnings estimates. Rivian and Lucid Group also experienced fluctuations in their stock prices following their respective earnings reports.
Fiverr and Etsy are two growth stocks with potential in 2024 and beyond. Fiverr is leveraging generative AI to expand its platform, incorporating AI into its services and tools, and turning a profit with increasing buyer spending. Etsy, with a focus on vintage, specialty, and handmade goods, has a narrow but lucrative market niche, and is showing steady user growth and financial progress. Both companies present opportunities for long-term investors despite recent challenges.
Elliott Management, known for aggressive governance tactics, has acquired a 13% stake in Etsy and secured a board seat, aiming to drive value creation and cost-cutting initiatives. Etsy has been facing challenges from low-cost competitors, counterfeit products, and declining sales post-pandemic, prompting the need for strategic changes. The promise of steep cost-cutting from Elliott drove Etsy's stock up 10%.
Activist investor Elliott Management has acquired a roughly 13% stake in e-commerce company Etsy and secured a board seat for partner Marc Steinberg. The news caused Etsy's shares to surge more than 10%. Elliott, known for its successful track record and managing about $59 billion in assets, has been engaging with Etsy for months. The company has struggled recently, laying off 11% of its staff and facing growing competition from Chinese retailers.
Travis Kelce discusses feeling pressure to find the right Valentine's Day gift for Taylor Swift during an ad segment for Etsy on his podcast, while also joking about his brother's last-minute approach to gift-giving. Despite being in Los Angeles for the Golden Globes, Kelce did not attend the event with Swift, as he had to fly back to Kansas City for a game with the Kansas City Chiefs.
A new candle inspired by a scene from the film "Saltburn," where a character drinks another's bath water, has been turned into a product called "Jacob Elordi’s Bathwater." The candle is available for purchase online and comes in three scents: vanilla, comfort spice, and sea breeze. This follows a trend of celebrity-inspired candles and is sold by Side Hustle Vibes, which also offers similar products themed around other celebrities. "Saltburn" is available for streaming on Prime Video.
Taylor Swift fans, known as Swifties, are showcasing their love for the pop star by creating unique Taylor Swift-inspired Christmas ornaments. Etsy has over 8,000 listings for Taylor Swift ornaments, with designs ranging from nods to specific albums to references to her current romance with Travis Kelce. These ornaments allow fans to celebrate their favorite artist during the holiday season and make for meaningful decorations on their Christmas trees.
Etsy, the online marketplace operator, is laying off approximately 225 employees, which accounts for 11% of its workforce. CEO Josh Silverman cited "flat" sales since 2021 as the reason for the layoffs, stating that the current trajectory is unsustainable. The company is facing competition from rivals like Shein and Temu. In addition to the layoffs, Etsy's chief marketing officer, Ryan Scott, is also departing. The company is offering an enhanced severance package to the affected employees. This downsizing comes at a time when other companies, such as Spotify, are also resorting to cost-cutting measures.