Home / Technology / Etsy.com shares unravel more after Amazon launches rival

Etsy.com shares unravel more after Amazon launches rival

Etsy's offices.

Etsy’s offices.

Shares of Etsy (ETSY), the handmade marketplace, slid further Friday after sinking 4% Thursday when Amazon announced a competing marketplace called Handmade at Amazon.

The stock lost 1.3% by Friday mid-day, to $13.40 per share. That compared with a high of $14.68 on Wednesday before Amazon make its announcement.

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Handmade at Amazon will feature more than 80,000 items, from all 50 states and 60 countries to start, said Peter Faricy, vice president for Amazon Marketplace.

In response to Amazon’s foray into the hand-crafted market, Etsy’s CEO Chad Dickerson released the following statement:

“We believe we are the best platform for creative entrepreneurs, empowering them to succeed on their own terms. Etsy has a decade of experience understanding the needs of artists and sellers and supporting them in ways that no other marketplace can. Our platform attracts 21+ million thoughtful consumers seeking to discover unique goods, and build relationships with the people who make and sell them.”

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