Etsy Acquires Electronics Retailer Grand St. For An Undisclosed Amount.
Etsy has recently announced that it has manage to acquire a creative technology marketplace known as Grand St. Its team, along with its co-founders Amanda Peyton, Joe Lallouz, and Aaron Henshaw, will join the company.
Grand St. gives the creators behind the hardware product a place for them to list their creations. It reviews and approves all the things listed down before they get placed up, so not ever little thing submitted will appear. Customers can pre-order items from one to six months ahead of time. 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 has stated that they ha no intentions of making any huge changes on its site and experience in the near term. it will continue to operate its services at grandst.com, and will continue to launch some new features. As a matter of fact, they have some heading our way real soon.
“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 terms behind this deal have not been disclosed at the current moment, but the deal should be ending any time soon.