Business Model Etsy’s (NASDAQ: Etsy, Inc.) mission to “Keep Commerce Human” is rooted in the company’s belief that, although automation and commoditization are parts of modern life, human creativity cannot be automated and human connection cannot be commoditized. House of Brands Etsy operates four online marketplaces, which collectively create a “House of Brands”. Its primary marketplace, Etsy.com, is the global destination for unique and creative goods made by independent sellers. It adopts a seller-aligned business model: Etsy makes money when its sellers make money. It provides sellers a marketplace with tens of millions of buyers along with a range of seller tools and services that are specifically designed to help creative entrepreneurs generate more sales and scale their businesses. In addition to the core Etsy marketplace, Etsy’s “House of Brands” consists of Reverb Holdings, Inc., its musical instrument marketplace acquired in 2019, Depop Limited, its fashion resale marketplace, and Elo7,...