Jul 6, 2026Extractive
Etsy35/100
A three-sided marketplace where the more successful you become as a seller, the more you pay — mandatory Offsite Ads permanently enroll every shop that crosses $10,000 in sales at a 12% fee with no exit. Opaque payment reserves can hold 75% of earnings for up to six months without disclosed triggers, while Elliott Management's 13% stake and a new $750 million share buyback signal that shareholder return now outranks marketplace investment.