【Australia】
Etsy is Australiaunraveling.
The struggling online craft store announced a major shakeup on Tuesday as a dismal earnings report tanked its shares in after-hours trading.
Chad Dickerson, the company's CEO of six years, will cede his post to board member John Silverman.
SEE ALSO: Etsy proposes 3 ways to improve the gig economy in new reportThe company also said it would lay off 80 employees -- around 8 percent of its workforce.
New York City venture capitalist Fred Wilson of Union Square Ventures will replace Dickerson on Etsy's board of directors.
The site's stock was trading down nearly 16 percent as of Tuesday evening.
ETSY data by YCharts
The arts-and-crafts-focused marketplace has been struggle to hold its own against behemoth rivals like Amazon and Ebay.
In a bid to move beyond simply hosting hand-crafted goods, the company launched a craft supply site last month called Etsy Studio, which is presumably meant to compete with traditional retailers like Michael's and Joanne's.
The company is currently under pressure from an activist hedge fund lobbying it to explore a sale or other potential overhauls, Bloomberg reports.
Featured Video For You
Someone reinvented the guitar and it's super easy to learn
Search
Categories
Latest Posts
The best day to book your flight, according to Google
2025-06-26 04:32Best Echo Show deal: Certified Refurbished Echo Show 8
2025-06-26 04:22Tesla slashes Full Self
2025-06-26 02:39Ireland fines TikTok $600 million for sharing user data with China
2025-06-26 02:01Popular Posts
A worthless juicer and a Gipper-branded server
2025-06-26 04:05Foxconn begins iPhone 15 production in India: report · TechNode
2025-06-26 03:58Here are the glorious proposed logos for Donald Trump's Space Force
2025-06-26 03:43Waitin’ on the Student Debt Jubilee
2025-06-26 02:25Featured Posts
Best headphones deal: Save up to 51% on Beats at Amazon
2025-06-26 04:08How to share your Google calendar
2025-06-26 03:20TSMC cuts price of its 8
2025-06-26 03:00Philips now allows customers to 3D print replacement parts
2025-06-26 02:04Popular Articles
The 10 Most Anticipated PC Games of 2016
2025-06-26 04:29Watch as SpaceX launches, then lands another Falcon 9 rocket
2025-06-26 03:26Wake up with NASA's playlist made for its sleeping Mars rover
2025-06-26 02:40Newsletter
Subscribe to our newsletter for the latest updates.
Comments (14439)
Happiness Information Network
Waitin’ on the Student Debt Jubilee
2025-06-26 04:16Leadership Information Network
Tesla addresses security concerns over Sentry Mode in China · TechNode
2025-06-26 03:00Warmth Information Network
Orca mother ends 'tour of grief' for her newborn after 17 days and 1,000 miles
2025-06-26 02:46Fashion Information Network
Xiaomi unveils latest advancements in LLM, with a focus on lightweight applications · TechNode
2025-06-26 02:40Fresh Information Network
This is the fattest of the extremely fat bears
2025-06-26 02:03