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Etsy’s Community Has Already Sold More Than $500 Million This Year

Source: http://www.businessinsider.com/etsy-sales-milestone-500-million-2012-8

Etsy’s CEO Chad Dickerson recently announced a big company milestone.

Last year, the company’s community generated more than $525 million in sales. This year the community is on track to crush that number.

It’s already passed $500 million in sales.

That figure also gives you an idea of what Etsy is making. Etsy takes a 3.5% cut of every sale and 20 cents for every posted item.

Since February, Etsy’s also started processing payments for some of its shops through a program called Direct Checkout. On payments, it takes a 3% cut plus 25 cents per transaction. Since February, it’s processed $50 million in payments.

That means Etsy has generated more than $20 million this year, and the holiday season hasn’t even struck yet.

On Thursday, it announced a new gift-card program which will require Etsy shop owners to sign up for Direct Checkout, and it’s also offering free payment-processing through the end of September to encourage its use. That may hit transaction fees in the short term, but in the long term, if more Etsy shop owners adopt Direct Checkout, it will substantially increase the money Etsy makes from each sale. (Etsy says Direct Checkout benefits shop owners because customers spend more on average when the feature is enabled.)

Brooklyn-based Etsy has more than 300 employees, 800,000 active merchants and more than 40 million monthly visitors.

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Red Hat announced $1.13 billion in annual revenue, up 25 percent from a year ago.

This officially marks the first time a company that makes 100% of its living from open source products topped the billion-dollar mark.

For the quarter ending February 29, Red Hat posted revenue of $297 million, up 21% year-over-year, and GAAP EPS of 18 cents, up 6%. Its quarterly non-GAAP EPS was 29 cents, up 12% from last year.

Analysts, on average, expected earnings of 27 cents per share on revenue of $291.2 million.

Shares are up over 7% to about $55 in after hours trading.

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See Also:

• The Secret to Red Hat’s Billion-Dollar Success: Everyone’s The Boss
• Red Hat Rubs Its Billion-Dollar Year In Bill Gates’ Face
• Cisco Is Back: Beats Expectations And Stock Jumps

This is a great chart from Dave Altig.

Click to enlarge.

Basically, what’s going on is, any dot above the diagonal line represents an industry where job growth is faster now than it was pre-recession. Any dot below the line indicates slower job growth.

As you can see, manufacturing is the real outlier here, as it averaged a monthly loss of 30K jobs between 2001-2007, whereas it’s been averaging monthly job gains from July 2009 to February 2012.

Karl Smith (who brought the chart to our attention) notes:

This is important for thinking about any kind of structural story you might be inclined to tell. Manufacturing employment had been falling for roughly 15 years and then suddenly stopped falling in the wake of this recession and started growing.

This may be (the) structural shift that folks are looking for but its important to note that this is basically a “reshoring” shift. Although, it’s not so much reshoring as a rapid slowdown in offshoring combined with growing underlying demand.

Anyway, on the flip side of the chart it’s pretty obvious that the big standouts are government and construction jobs, which means that recent signs of turnarounds in both could portend another big leg up in employment.

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See Also:

• 2 Important Things From The ADP Jobs Report
• SURVEY: CFOs Expect To Increase Hiring During The Next 12 Months
• Why Goldman Sees ‘Only’ 200,000 New Jobs In Tomorrow’s Big Report

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