How Powerful Is Google Inc (GOOGL)? Etsy Inc (ETSY) Soars Nearly 40% On Mere Mention In Q2 Report

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This wasn’t a direct statement that Etsy Inc (NASDAQ:ETSY) has seen an increase in business because of Google’s efforts to improve indexing, it was simply Google saying that Etsy has experienced a spike in traffic. However, it’s generally conceded that the more eyeballs a business has, the more chances it has to boost its business, which should make Coleman and the folks at Tiger Global Management happy, as they have a very substantial bet on Etsy which has lost quite an ample amount of its shares’ value since its IPO. According to a 13G filing Tiger Global Management filed with the SEC on June 8, the firm owned 10.0 million Etsy Inc (NASDAQ:ETSY) shares at the time, or about 8.9% of all outstanding ETSY shares.

Etsy Inc (NASDAQ:ETSY) operates a marketplace that connects vendors to buyers. This platform, which is known for its selection of handcrafted goods, is often perceived to be a smaller, more intimate platform than other online marketplaces. Etsy was listed on the NASDAQ exchange on April 16, closing at $27.58 per share after debuting at $31 per share earlier in the day. Since then, the stock has declined by over 30%.

Disclosure: None

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