How Etsy Identified Its Purpose and Executed a Turnaround | Cold Call

Harvard Business Review · Oct 22, 2026 · 31m

How Etsy Found Its Purpose and Crafted a Turnaround | Cold Call

12 Jul 2023

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Etsy, the online seller of handmade goods, was founded in 2005 as an alternative to companies that sold mass-manufactured products. The company grew substantially but remained unprofitable under the leadership of two early CEOs. Ten years later, Etsy went public and was forced into a new arena, where it was beholden to stakeholders who demanded financial success and accountability. Unable to contain costs, the company was almost bought out by private equity firms in 2017 – until CEO Josh Silverman arrived with a…