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
Tags : collaborative consumption, etsy, grand street, maker movement
