Image via CrunchBase
NY based Etsy has already surpassed $500 million in sales this year, which means they will easily break last years total of $525 million. Etsy is monetized by taking a 3.5% cut of every sale and 20 cents for every posted item and the company has started processing payments through Direct Checkout. This week the company also 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.
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