Thursday, April 24, 2014

Handmade Marketplace Etsy Bought Grand St

The famous handmade marketplace Etsy has bought Grand St. Grand St is an online store for the electronics appliances.  It gets $1.3 million funding from First Round Capital, angel investors, Mesa+ and Quotidian Ventures.  They are in planning to make electronics goods business along with the handmade accessories store. 

Amanda Peyton is a CEO of the company and welcomes the Etsy. She said in his interview “DIY has always been a well-known category, but it  has really, really defined the category," "It's something we certainly aspire to -- take this nascent category and show people this is not just a bunch of niche products, but that this is the future of electronics."

Grand has launched own marketplace in the month of February.  The company just cross the million-dollar sales.  In the last month both trading gets tied up in the eCommerce business, and Etsy started to sell electronics goods at the store.  This is the expansion of category through guitar pedals to speakers, which are handmade. Both companies are getting the benefits of this deal, though this is a very big step for both trades. 

Dickerson said "Something that has really changed in the market is people now think of electronics as a creative pursuit, and I don't think that's always been true"

Peyton says. "The evolution around creators moving into making interesting small batch electronics is something that's just beginning, and it is starting to grow."

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