Etsy Names Kruti Patel Goyal as New CEO
Etsy, the prominent online marketplace, announced on October 29, 2025, that its long-serving CEO Josh Silverman will step down by the end of the year. Succeeding him will be Kruti Patel Goyal, Etsy’s current president and chief growth officer, who will assume the role of CEO effective immediately after Silverman’s departure. Josh Silverman, who led Etsy for eight years, will remain with the company as executive chairman, providing continuity amid the leadership transition.
Kruti Patel Goyal’s Proven Track Record
Kruti Patel Goyal brings extensive experience to her new role, having worked at Etsy for over a decade before being appointed CEO of Depop, the social-commerce platform acquired by Etsy four years ago. She has held the position of Etsy’s president and chief growth officer for the past seven months, overseeing strategic initiatives aimed at expanding the company’s user base and revenue.
Etsy’s Current Market Challenges
Etsy has recently struggled to maintain growth momentum. In the third quarter ending September 30, 2025, the platform reported a 5% decline in active buyers, dropping to 86.6 million compared to the previous year. Additionally, the number of active sellers decreased by 10.9% to 5.5 million. Gross merchandise sales (GMS) also fell by 2.4%, totaling $2.4 billion for the quarter. Compounding these challenges, Etsy faced a user boycott in July, triggered by the sale of merchandise branded under “Alligator Alcatraz,” which negatively impacted buyer sentiment.
In contrast, Depop, which operates under Etsy’s umbrella, has shown robust growth. During the same quarter, Depop’s active sellers surged by 40% to 3 million, while active buyers increased by 38% to 6.6 million. Its gross merchandise sales rose sharply by 39.4%, reaching $292.1 million. This divergent performance highlights Goyal’s effective leadership in scaling Depop’s social-commerce model, a strength that Etsy aims to leverage to reinvigorate its core marketplace. Following the announcement of the CEO transition, Etsy’s shares declined nearly 9%, reflecting investor concerns over the company’s recent performance and strategic direction.
FinOracleAI — Market View
Etsy’s decision to appoint Kruti Patel Goyal as CEO marks a strategic pivot toward leveraging social-commerce expertise to address stagnating growth. Goyal’s success at Depop underscores her capability to engage younger, trend-driven consumers and expand marketplace activity.
- Opportunity to revitalize Etsy’s buyer and seller engagement through innovative social-commerce strategies.
- Potential to integrate Depop’s dynamic growth model into Etsy’s broader marketplace ecosystem.
- Risk of continued user attrition if brand controversies and marketplace dissatisfaction persist.
- Market skepticism reflected in the nearly 9% drop in share price, indicating pressure to deliver rapid results.
Impact: The leadership change positions Etsy for a potential turnaround by capitalizing on Goyal’s proven growth expertise, but the company must address current market challenges swiftly to restore investor confidence and halt user declines.
