Did Etsy's CEO Really Just Say That?
Etsy (NASDAQ: ETSY) CEO Josh Silverman made quite the comment about his company's recent acquisition of e-commerce apparel reseller Depop earlier this month. He compared it to a service offered by PayPal (NASDAQ: PYPL). "We think Depop is potentially to Etsy like Venmo was to PayPal, a new way to shop for the new generation," Silverman explained to analysts on Etsy's second-quarter earnings call.
On the surface, the $25 billion online marketplace for handmade and vintage goods does have similarities with the fintech juggernaut. While both are benefiting from long-term secular growth in e-commerce and digital payments, Silverman's comparison highlights a deeper resemblance.
Here's why I believe this comment from Etsy's CEO is actually pretty accurate.
Source Fool.com
