PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
The French marketplace sells handmade goods, foods and wine and will continue to operate independently.
Etsy Inc., a New York-based online marketplace, announced Monday its acquisition of A Little Market, a French marketplace that sells goods from local artists and designers. Etsy did not disclose the terms of the acquisition, but a spokesperson says it is the company’s largest deal to date.
“This acquisition is strategic and complementary for us. Etsy and A Little Market share the same values—to connect people locally and globally through commerce and encourage creative entrepreneurs. Similar to Etsy, A Little Market has a strong focus on community and supporting sellers,” writes CEO Chad Dickerson, CEO, in an Etsy blog post.
This is the sixth company acquired by Etsy, which has 40 million registered users and about 1 million active sellers. The marketplace brought in $1.35 billion in 2013 online web sales, according to Internet Retailer’s 2014 Top 500 Guide. Consumers from 200 countries purchase goods off of Etsy’s marketplace. Etsy is focusing on growing domestic sales in countries like France. Today, 90% of Etsy’s business in France comes from French consumers buying goods from outside that country, a company spokesperson says.
“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,” Dickerson says.
The Little Market, which was founded in 2008 and has 620,000 members, will continue to operate independently and be led by founders Nicolas Cohen, Nicolas d’Audiffret and Loic Duvernay, Dickerson says.
Etsy Inc. is No. 30 in Internet Retailer’s 2014 Top 500 Guide.