Etsy has just announced the acquisition of A Little Market, a French company that serves as "an online destination for consumers in France looking for creative goods made by local artists and designers." Sounds a lot like...yes, Etsy of course.
Although Etsy didn't disclose the financials on the deal, The Wall Street Journal quotes a source who says that the deal was Etsy's sixth, and biggest yet.
Still, the deal is reportedly valued at less than $100 million.
"While Etsy’s business in France is primarily import/export — shoppers in other countries buying from local sellers — A Little Market has been focused on domestic growth among French sellers and buyers. The mission we believe in is aligned across both platforms. A Little Market shares our strategy of supporting designers, artists and makers to start and scale their independent, creative businesses, bringing to market one-of-a-kind goods. They emphasize handmade and work to keep the buying experience human and friendly," says Etsy CEO Chad Dickerson.
A Little Market will continue to operate independently, according to Dickerson.
"Together, Etsy and A Little Market are incredibly well-positioned to reimagine commerce in France, the world’s fifth largest economy," says Dickerson.
Etsy's last major acquisition was that of Grand St., a hardware marketplace, which happened back in April.
Image via Etsy Blog