Posted On April 24, 2014 By In Business, Fashion

Etsy acquires Grand Street


Etsy – the New York based online marketplace for independent businesses and the maker movement, has made a move into indie electronics. It has just announced the acquisition of Grand Street, a Brooklyn-based startup. Grand Street bills itself as the marketplace for creative technology. The terms of the deal are “subject to closing conditions.”

Grand Street states that:

Simply put: the rise of the individual, small-batch maker is changing product development, production and commerce. The process of making physical goods is shifting as consumers are more interested in unique and personalized products. This leads to a greater variety of products, and a fulfilling path to growth for creators. Etsy knows this and everything they do is designed to welcome this shift and embrace it.

This seems to be a move by Etsy to expand into the maker movement in electronics. This could help make Etsy a more diverse marketplace with a wider range of products. Last week, Etsy announced the launch of its wholesale marketplace where independent buyers could sell their products en masse to retailers. This could be a big boost for the collaborative consumption movement and make it more acceptable in mainstream society. It could also help in opening new markets for small businesses to sell their bespoke items to a wider audience.

Speculation has been rife about Etsy filing for an IPO in the nearest future. If that happens, it could represent a huge pay-day for the investors in Etsy.

Source: Etsy blog; Grand Street blog.
Photo: Flickr


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Akin is a writer at Technesstivity since June 2011 covering the use of technology in everyday life ranging from entertainment to business. A native of Lagos, Nigeria, he is a business economics student at the University of Liverpool. He has a knack for the role of venture-capital in funding innovative companies. He aspires to one day be a venture capitalist and investor. When in his spare time, the could be seen writing articles, reading books, listening to music, working on student radio and socialising with friends.