'Fund on Etsy' is a function that has been missing on the online marketplace for some time. Providing a crowdfunding platform is a natural fit for a business set on helping crafters, creatives and entrepreneurs in general sell their products. Although Fund on Etsy isn't revolutionary by any means, it simply brings the function to the website in general.
This in and of itself will make Fund on Etsy successful. After all, it already has a huge user base it will be tapping into. Sellers won't have to go elsewhere as well in order to raise capital to put their ideas into production. Fast Company writes, "If all goes well, the program could turn into another revenue stream for the newly public company. Etsy will pocket a 3.5% cut of each transaction, as well as a 20 cent up-front fee for posting a campaign, according to The Wall Street Journal."
Online Marketplace Crowdfunding
Fund on Etsy is Set to Challenge Other Platforms like Kickstarter
Trend Themes
1. Online Marketplace Crowdfunding - The integration of crowdfunding into online marketplaces provides a new opportunity for entrepreneurs to raise capital and bring their ideas to market.
2. Fund on Etsy - The launch of Fund on Etsy brings crowdfunding functionality to the popular online marketplace, offering sellers a convenient way to raise capital.
3. Challenging Kickstarter - Fund on Etsy poses a potential competitive threat to platforms like Kickstarter by offering crowdfunding services within its established user base.
Industry Implications
1. E-commerce - The integration of crowdfunding into online marketplaces disrupts traditional e-commerce models, offering new avenues for entrepreneurs to fund their ventures.
2. Crafting - Fund on Etsy specifically caters to crafters and creatives, providing them with a unique opportunity to crowdfund their projects.
3. Online Marketplace - The addition of crowdfunding to online marketplaces like Etsy enhances their value proposition by expanding the services available to their user base.