{"id":509669,"date":"2021-07-06T08:04:12","date_gmt":"2021-07-06T12:04:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/"},"modified":"2021-07-06T08:04:12","modified_gmt":"2021-07-06T12:04:12","slug":"etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/","title":{"rendered":"Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">BROOKLYN, N.Y.<\/span>, <span class=\"xn-chron\">July 6, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced the completion of its previously-announced acquisition of Elo7. The Elo7 marketplace specializes in unique, handmade items, and is ranked as a top 10 ecommerce site in <span class=\"xn-location\">Brazil<\/span>.<\/p>\n<p>\n        <span class=\"xn-person\">Josh Silverman<\/span>, Etsy, Inc. CEO, said, &#8220;Elo7 is a great addition to Etsy&#8217;s House of Brands portfolio, which, upon completion of our acquisition of Depop, will include four highly differentiated, non-commoditized and loved ecommerce brands that share similar levers of growth to unlock value. We see significant potential in <span class=\"xn-location\">Brazil&#8217;s<\/span> ecommerce sector, which is still in early stages of development and fueled by one of the largest economies in the world.\u00a0 We believe having a well known local brand will help Etsy, Inc. to better capitalize on this opportunity.&#8221;<\/p>\n<p>There are a number of similarities between Elo7 and the rest of Etsy&#8217;s House of Brands portfolio, such as the emphasis on improving search and discovery, building human connections, and making selling and buying easier. As previously announced, the marketplace will operate independently, while benefiting from shared expertise in product, marketing, technology, and customer support.<\/p>\n<p>\n        <b>About Etsy<\/b>\n      <\/p>\n<p>Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. Our primary marketplace,\u00a0<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3218093-1&amp;h=998966934&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3207985-1%26h%3D1143557597%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D3083983-1%2526h%253D1521822248%2526u%253Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2610648-1%252526h%25253D3615522881%252526u%25253Dhttp%2525253A%2525252F%2525252Fetsy.com%2525252F%252526a%25253DEtsy.com%2526a%253DEtsy.com%26a%3DEtsy.com&amp;a=Etsy.com\" rel=\"nofollow noopener\">Etsy.com<\/a><\/u>, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, we offer a range of tools and services that address key business needs. In addition, Etsy, Inc. owns\u00a0musical instrument marketplace <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3218093-1&amp;h=4117394335&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3207985-1%26h%3D2512362543%26u%3Dhttps%253A%252F%252Freverb.com%252F%26a%3DReverb&amp;a=Reverb\" rel=\"nofollow noopener\">Reverb<\/a><\/u> as well as <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3218093-1&amp;h=1412740665&amp;u=https%3A%2F%2Fwww.elo7.com.br%2F&amp;a=Elo7\" rel=\"nofollow noopener\">Elo7<\/a><\/u>, the <span class=\"xn-location\">Brazil<\/span>-based marketplace for handmade and unique items.<\/p>\n<p>Etsy&#8217;s mission is to keep commerce human, and we&#8217;re committed to using the power of business to strengthen communities and empower people. Our company was founded in 2005 and is headquartered in <span class=\"xn-location\">Brooklyn, New York<\/span>.<\/p>\n<p>\n        <b>Cautionary Statement Regarding Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release (including statements quoted in this press release) contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include statements related to our potential addressable market, the post-closing operations of the Elo marketplace, the potential of Elo7&#8217;s business, and the anticipated closing of the pending acquisition of Depop.<\/p>\n<p>Forward-looking statements include all statements that are not historical facts. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from those we expect. These risks and uncertainties include, among others, the possibility that the conditions to the closing of the acquisition of Depop may not be satisfied or waived or that other events may cause the acquisition to not be completed, the potential impact to the business of Elo7 or Elo7&#8217;s relationships with its marketplace community due to the closing of the acquisition, Etsy&#8217;s ability to successfully integrate the acquisition and execute on its business plan and &#8220;house of brands&#8221;&#8216; operating model, and general economic conditions and political, regulatory, economic and social conditions in <span class=\"xn-location\">Brazil<\/span> and <span class=\"xn-location\">Latin America<\/span>, many of which are beyond Etsy&#8217;s control, and other risks and uncertainties that are more fully described in Etsy&#8217;s filings with the Securities and Exchange Commission, including in the section entitled &#8220;Risk Factors&#8221; in Etsy&#8217;s Quarterly Report on Form 10-Q for the quarter ended <span class=\"xn-chron\">March 31, 2021<\/span> and subsequent reports that Etsy files with the Securities and Exchange Commission. In light of such risks, readers are cautioned not to place undue reliance on such forward-looking statements.<\/p>\n<p>Forward-looking statements represent Etsy&#8217;s beliefs and assumptions only as of the date of this press release. Etsy disclaims any obligation to update forward-looking statements, except as required by law.<\/p>\n<p>\n        <b>Contacts:<br \/><\/b>Investor Relations Contact:<br \/>Etsy, <span class=\"xn-person\">Deb Wasser<\/span>, Vice President, Investor Relations and ESG Engagement:\u00a0<u><a target=\"_blank\" href=\"mailto:dwasser@etsy.com\" rel=\"nofollow noopener\">dwasser@etsy.com<\/a><\/u>or<br \/>Etsy, <span class=\"xn-person\">Gabe Ratcliff<\/span>, Director, Investor Relations:\u00a0<u><a target=\"_blank\" href=\"mailto:gratcliff@etsy.com\" rel=\"nofollow noopener\">gratcliff@etsy.com<\/a><\/u><\/p>\n<p>Media Relations Contact:<br \/>Etsy, <span class=\"xn-person\">Kelly Clausen<\/span>, Senior Director, Corporate Communications<br \/><u><a target=\"_blank\" href=\"mailto:press@etsy.com\" rel=\"nofollow noopener\">press@etsy.com<\/a><\/u><\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33133&amp;sd=2021-07-06\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items-301325747.html\">https:\/\/www.prnewswire.com\/news-releases\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items-301325747.html<\/a><\/p>\n<p>SOURCE  Etsy, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY33133&amp;Transmission_Id=202107060800PR_NEWS_USPR_____NY33133&amp;DateId=20210706\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire BROOKLYN, N.Y., July 6, 2021 \/PRNewswire\/ &#8212;\u00a0Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced the completion of its previously-announced acquisition of Elo7. The Elo7 marketplace specializes in unique, handmade items, and is ranked as a top 10 ecommerce site in Brazil. Josh Silverman, Etsy, Inc. CEO, said, &#8220;Elo7 is a great addition to Etsy&#8217;s House of Brands portfolio, which, upon completion of our acquisition of Depop, will include four highly differentiated, non-commoditized and loved ecommerce brands that share similar levers of growth to unlock value. We see significant potential in Brazil&#8217;s ecommerce sector, which is still in early stages of development and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-509669","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BROOKLYN, N.Y., July 6, 2021 \/PRNewswire\/ &#8212;\u00a0Etsy, Inc. (NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced the completion of its previously-announced acquisition of Elo7. The Elo7 marketplace specializes in unique, handmade items, and is ranked as a top 10 ecommerce site in Brazil. Josh Silverman, Etsy, Inc. CEO, said, &#8220;Elo7 is a great addition to Etsy&#8217;s House of Brands portfolio, which, upon completion of our acquisition of Depop, will include four highly differentiated, non-commoditized and loved ecommerce brands that share similar levers of growth to unlock value. We see significant potential in Brazil&#8217;s ecommerce sector, which is still in early stages of development and &hellip; Continue reading &quot;Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-06T12:04:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33133&amp;sd=2021-07-06\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items\",\"datePublished\":\"2021-07-06T12:04:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\\\/\"},\"wordCount\":678,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=NY33133&amp;sd=2021-07-06\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\\\/\",\"name\":\"Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items - 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(NASDAQ: ETSY), which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, today announced the completion of its previously-announced acquisition of Elo7. The Elo7 marketplace specializes in unique, handmade items, and is ranked as a top 10 ecommerce site in Brazil. Josh Silverman, Etsy, Inc. CEO, said, &#8220;Elo7 is a great addition to Etsy&#8217;s House of Brands portfolio, which, upon completion of our acquisition of Depop, will include four highly differentiated, non-commoditized and loved ecommerce brands that share similar levers of growth to unlock value. We see significant potential in Brazil&#8217;s ecommerce sector, which is still in early stages of development and &hellip; Continue reading \"Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-06T12:04:12+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33133&amp;sd=2021-07-06","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items","datePublished":"2021-07-06T12:04:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/"},"wordCount":678,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY33133&amp;sd=2021-07-06","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/etsy-completes-acquisition-of-elo7-brazil-based-marketplace-for-unique-handmade-items\/","name":"Etsy completes acquisition of Elo7, Brazil-based marketplace for unique, handmade items - 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