Etsy reports Q3 revenue up 11% YoY to $692.5M, above $668M est., net income of $853.5M after selling Depop, and gross merchandise sales up 9% YoY to $2.65B
THE SO WHAT
Etsy is showing that focused marketplaces can still grow double digits on both revenue and GMS while shedding non-core assets like Depop. If you're running a vertical platform, the bar just moved higher for proving that side bets deserve capital versus doubling down on the core transaction engine.
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