Crafts e-tailer Etsy has acquired electronics e-commerce site Grand St for just under US$10m in a move that enables Etsy to capitalise on the ‘maker’s revolution’ taking place.
Entrepreneurs and inventors are now creating unique products by combining hardware and software nous with technologies, such as Arduino dev boards.
Grand St launched last year as a marketplace for hobbyists to turn their passion into a business, according to Re/Code.
According to a post on Etsy News Blog by Etsy CEO Chad Dickerson, the acquisition is subject to closing conditions.
The indie tech marketplace
“Grand St connects independent hardware makers with passionate buyers, harnessing a wave of innovation happening outside the mainstream consumer electronics industry,” Dickerson wrote.
“What unites Etsy and Grand St is a shared vision of the way making is changing, and we’re excited to learn from their community. The team behind Grand St – including co-founders Amanda Peyton, Joe Lallouz and Aaron Henshaw – will join Etsy but continue to operate the Grand St marketplace in the near term.
“As we’ve seen here at Etsy, shoppers are increasingly interested in unique and innovative goods, especially when they know and can be involved in the story behind the product,” Dickerson added.
“At the same time, it’s becoming easier than ever for independent makers and designers to bring ideas to market and find a global audience. Grand St gets this – that’s why we’re such a good fit.”