Checkout
Investors Are Obsessed With Handmade Crafts Right Now
- Startup Faire raised $118 million in first year of existence
- Etsy’s stock has nearly quadrupled since the start of 2017
This article is for subscribers only.
It’s boom times in the crafts business. Since the start of last year, the market value of Etsy Inc. has nearly quadrupled. In that same time period, three former colleagues at Square Inc. started an online wholesale market for handmade goods and have already amassed more than $100 million in investments.
Their company, called Faire, offers a similar selection of products to what’s found on Etsy but sells them to independent shop owners, most of whom manage just one store. Faire pitches its service as a way for mom-and-pops to keep up with Amazon.com Inc.