Etsy share price’s jumped nearly 15% in morning trading Friday after the company reported strong fourth-quarter sales as well as a plan to increase fees on sellers by 30%.
The Brooklyn-based online marketplace for crafters collected $2.3 billion in revenue last year, according to an earnings report published Thursday, up 35% from 2020. The website connects about 90 million active customers to a global network of 5.5 million individual sellers.
It risks angering some of those sellers, however, with a plan to start collecting 6.5% of each sale from its website and app starting April 11, up from 5%.
Rachel Glaser, Etsy’s chief financial officer, noted that
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