The #EtsyStrike begins today July 16, 2018 when new tiered plans and rate increases go into effect for sellers across Etsy. This action is not in retaliation for seller fee increases but in response to radical values and culture change at Etsy. Those with concerns about these changes are taking action on and offline to inform our communities about the hostile shareholder takeover of the company and the impacts. Concerns and community statements will be sent to senior Etsy staff today via email and any response will be published here.
The short story: A shareholder action by activist hedge-funds such as Black-and-White Capital has left Etsy almost completely gutted of commitments to socially responsible business and community programs in order to generate rapid profit for investors. The #EtsyStrike action is an entirely grassroots effort organized in response by a group of volunteers who have supported Etsy’s mission to reimagine commerce to build a more lasting and fulfilling world but can no longer align ourselves with a company that has been completely transformed.
IMPORTANT: Letter to Etsy Inc. Board of Directors, July 16 2018 http://bit.ly/lettertoetsy
Read statements submitted by the community http://bit.ly/etsycommunity
Participating? Find high resolutions graphics & PDFs here http://bit.ly/2J5THFw
Please do your own research and consider if you want to support a company that has been taken over by shareholder activists who prioritize profit over good business and ethics. As consumers and creators we have the power to invest in and create a more equitable world with every purchase and thoughtful decision we make. Individually we may not be able to change a company or craft a new economy but collectively we can. We can vote with our wallets, voices, and business for the kind of commerce we want to see. We can support companies with poor ethical track records like Amazon, eBay, or unfortunately now Etsy – or we can invest directly in individuals, businesses, and communities we know are doing good work.
About the Shareholder Takeover:
- Etsy Targeted by Black-and-White for Review Including a Sale
- Black-and-White letters to Etsy Board of Directors
- The Barbarians Are at Etsy’s Hand-Hewn, Responsibly Sourced Gates
- Can the market play nice with social good? Etsy suggests not
- Etsy replaces CEO, cuts jobs after hedge fund harps on missteps
- Activism: B Corps Aren’t Immune
Links & Resources:
What will you choose?