Etsy is looking to help their sellers crowdfund. On Tuesday, the Brooklyn-based marketplace launched a two-month pilot program that lets sellers raise money on the company’s website to fund manufacturing for new products.
Similar to Kickstarter, Etsy said it wouldn’t charge backers’ credit cards until a seller’s funding goal is met. About 100 vendors are participating in the Fund pilot, where they'll be charged Etsy's usual 3.5% of each transaction plus a 20-cent posting fee.
Etsy is recommending a 9-month delivery window for all crowdfunded products, but expects most to be shipped within 6 months.
- Etsy Tests Crowdfunding Venture | Wall Street Journal