Overview

• Elliott Management, an investment firm known for its aggressive governance tactics, has built a roughly 13% position in Etsy’s stock, making it the largest investor.
• Marc Steinberg, an Elliot partner, will join Etsy’s board of directors effective February 5.
• Etsy has been struggling with competition from low-cost Chinese retailers and issues with poorly-made products and scams on its marketplace.
• Etsy's recent attempts to grow new lines of business through acquisitions have had mixed results.
• The news of Elliott's involvement drove Etsy’s stock up 10%.