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Top related persons:
Etsy - 2 Josh Silverman - 2 Elliott - 1 Marc Steinberg - 1 CNBC's David Faber - 1 Josh - 1 Steinberg - 1 Silverman - 1
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Nasdaq - 1 Elliott Management - 1 CNBC - 1 Vanguard - 1 BlackRock - 1 Match Group - 1 Philips - 1 Amazon - 1

Search resuls for: "Elo7"


4 mentions found


☆ Activist Elliott builds roughly 13% stake in Etsy, secures board seat
  + stars: | 2024-02-01 | by ( Rohan Goswami Annie Palmer | Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +3 min
Activist investor Elliott Management has a "sizable" investment in e-commerce firm Etsy , which announced on Thursday that Elliott partner Marc Steinberg would join the company's board. The activist investor has built a roughly 13% position in the stock, a person familiar with the matter told CNBC. The position would make it Etsy's largest investor. Still, the e-commerce company's stock is down about 10% year-to-date. It competes with e-commerce companies including Amazon, which has its own handcrafted products platform.
Persons: Elliott, Marc Steinberg, CNBC's David Faber, Josh, Steinberg, Etsy, Josh Silverman, Silverman Organizations: Nasdaq, Elliott Management, CNBC, Vanguard, BlackRock, Match Group, Philips, Amazon Locations: New York City, Salesforce, Brazil
☆ Etsy made 2 massive acquisitions at peak tech valuations. Two years and a $1 billion write-off later, it has buyer's remorse as it sells Elo7.
  + stars: | 2023-07-19 | by ( Madeline Stone | ) www.businessinsider.com   time to read: +5 min
Etsy bought Elo7 and Depop at a time when tech valuations were sky-high. Etsy disclosed that it had sold Elo7, the Brazilian online marketplace it acquired in July 2021 for $217 million, to fellow Brazilian online marketplace Enjoei for an undisclosed amount. What's next for Etsy's portfolio of brandsFollowing the sale of Elo7, Etsy's portfolio will include its main marketplace, Depop, and Reverb, an online marketplace for musical instruments. But like Elo7, Depop has had some challenges with growth once the pandemic-related e-commerce boom ended, and it is also not profitable. "They're running Depop very similarly to how they run the Etsy marketplace platform," Khajuria said.
Persons: Etsy, Josh Silverman, Elo7, they've, Bernstein, Nikhil Devnani, Shopify, Devnani, What's, Depop, Kruti Patel Goyal, Khajuria Organizations: Evercore ISI, SEC, Elo7, Analysts Locations: Brazil, Latin America, Europe
☆ Etsy Could Come Bearing Gifts
  + stars: | 2022-11-03 | by ( Jinjoo Lee | ) www.wsj.com   time to read: 1 min
Etsy , which does exactly that, might be thriving because of (not despite) that niche. Etsy on Wednesday reported that its gross merchandise sales declined by 3.3% in the third quarter from a year earlier—better than the 5.5% decline that analysts polled by Visible Alpha were expecting. It was also milder than the 11% drop eBay reported on the same day. The only nit to pick was a $1 billion impairment Etsy took on Depop and Elo7—acquisitions it made last year when e-commerce companies were commanding premium valuations. That impairment caused a net loss for the quarter.
☆ Etsy shares pop on revenue beat, rosy guidance
  + stars: | 2022-11-02 | by ( Annie Palmer | ) www.cnbc.com   time to read: +2 min
Etsy shares surged as much as 10% in extended trading Wednesday after the online marketplace's third-quarter revenue and earnings outperformed expectations. Here's how the company did:Earnings: 58 cents per share, adjusted, vs. 36 cents per share, as expected by analysts, according to Refinitiv. 58 cents per share, adjusted, vs. 36 cents per share, as expected by analysts, according to Refinitiv. Revenue: $594.5 million vs. $565 million as expected by analysts, according to Refinitiv. For the fourth quarter, Etsy said it expects to report revenue between $700 million and $780 million, and gross merchandise sales of $3.6 billion to $4 billion.
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