【Taste of Future Sister-in-law】

2025-06-26 00:21:14 [Games] Source: Openness Information Network

Etsy is Taste of Future Sister-in-lawunraveling.

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 report

The company also said it would lay off 80 employees -- around 8 percent of its workforce.

Mashable Trend Report Decode what’s viral, what’s next, and what it all means. Sign up for Mashable’s weekly Trend Report newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

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

(Editor: {typename type="name"/})