|Wed Nov 29 2017 16:58:19|
Former CEO Tweets Her Support of Etsy
By: Ina Steiner
Last week, the New York Times caused a stir
among sellers when it delved into the transformation Etsy is undergoing from a touchy-feely, do-good company to a more hard-nosed, profit-driven company under its new CEO Josh Silverman, who made some major layoffs after replacing Chad Dickerson in the spring.
Two days later, the Telegraph wrote its own version
of the story titled, "Etsy's radical revamp is kissing goodbye to its handmade roots."
One former Etsian is throwing her support behind the changes. Maria Thomas took the helm of Etsy in 2008 and left in 2009, replaced by founder Rob Kalin.
Yesterday she tweeted her support for Etsy's new direction, pointing to the Telegraph article and writing, "The article's title is hyperbolic but the substance is exciting. I'm bullish on @etsy & excited for its future, including the soon-to- debut TV show, #Making It, on @nbc featuring @etsy trend expert Dayna Isom Johnson. @NBCMakingIt."
One thing worth pointing out that should be of concern to both sellers and shareholders: the Times quotes Etsy Chairman of the Board Fred Wilson saying, "The house was burning and nobody was paying attention." A strange thing to say - wouldn't that be a breach of the board's fiduciary duty?
Both the New York Times and the Telegraph articles make for good reading if you are interested in the behind-the-scenes maneuvering of the companies on which online sellers rely, or if you're looking for clues about the direction Etsy is taking. Let us know what you think.