Etsy Announces Acquisition
Etsy announced on Wednesday that it is acquiring creative technology marketplace Grand St. Its team, including co-founders Amanda Peyton, Joe Lallouz, and Aaron Henshaw, will join the company.
Grand St. gives makers of hardware products a place to list their creations. It reviews and approves all listings before they go live, so not everything submitted appears. Customers can pre-order items one to six months in advance. It offers early beta access to some technologies.
“Grand St. connects independent hardware makers with passionate buyers, harnessing a wave of innovation happening outside the mainstream consumer electronics industry,” says Etsy CEO Chad Dickerson. “What unites Etsy and Grand St. is a shared vision of the way making is changing, and we’re excited to learn from their community.”
“As we’ve seen here at Etsy, shoppers are increasingly interested in unique and innovative goods, especially when they know and can be involved in the story behind the product,” he adds. “At the same time, it’s becoming easier than ever for independent makers and designers to bring ideas to market and find a global audience. Grand St. gets this — that’s why we’re such a good fit.”
The Grand St. team says it intends to change “very little” about its site and experience in the near term. It will continue to operate its services at grandst.com, and will continue to launch new features. In fact, it says it has some on the way.
“As you may know, Etsy is an amazing company for handmade goods and a true pioneer in both marketplace development and the maker movement,” the Grand St. team writes. “We have always admired them from afar, especially their dedication to craft and their commitment to their B Corp certification.”
“We are very excited to be part of a company with such overlapping values, where we’ll have a chance to accelerate our mission of helping independent makers grow and scale,” it says.
The deal is still subject to closing conditions. Terms were not disclosed.
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