Etsy: E-Commerce Meets Community
Etsy, the online marketplace that connects buyers and sellers of "all things handmade," was named to the Fast Company 50, a listing of the world's most innovative companies. An interview with the CEO by Fast Company reveals the focus on community as well as commerce–profiles of Etsy sellers with personalized videos, virtual gathering places to share learning and interests, forums for niche groups to form. An excerpt:
Etsy CEO: To help people make a living by doing what they love and making things. Technology makes the first part happen because it gives people access to markets that were previously bounded by geography and other variables. But we also wanted to go back to a time when markets meant personal interaction–when you knew who you were buying from.
Financially, Etsy is doing very well. They make their money when goods are listed, sold, and promoted on the site. According to Fast Company, "it tripled its gross sales in 2008, to $90 million." It's also attracting venture capital.
Community works. And works. And works.