Etsy names Rafe Colburn as new Chief Technology Officer

BROOKLYN, N.Y. - Etsy, Inc. (NASDAQ: ETSY), a global online marketplace, announced the appointment of Rafe Colburn as its Chief Technology Officer (CTO), set to take effect on May 5, 2025. Colburn, who previously held the role of Chief Technology & Product Officer at Depop, will return to Etsy after a decade, during which he led various engineering teams.

At Depop, Colburn was instrumental in scaling the technology team and pivoting the customer experience towards a more app-based, discovery-centric approach. His tenure at Etsy saw him oversee significant growth and transformation in areas such as ads, marketing technology, seller experience, trust & safety, and customer support.

Etsy’s CEO, Josh Silverman, expressed confidence in Colburn’s ability to steer the company’s technical strategy to scale impact and enhance connections between buyers and sellers. Silverman emphasized the importance of differentiated, personalized, and relevant shopping experiences in Etsy’s growth strategy.

Colburn will be based at Etsy’s headquarters in Brooklyn and will report directly to Silverman as part of the executive team. He expressed excitement about leveraging AI and other dynamic technologies to transform the Etsy shopping experience and create more opportunities for sellers.

In a related move, Peter Semple will become the interim CEO of Depop, also effective May 5, 2025. Semple, Depop’s current Chief Marketing Officer, will assume the role until a permanent successor is found. This follows the transition of Depop’s current CEO, Kruti Patel Goyal, to President and Chief Growth Officer at Etsy.

Etsy, founded in 2005, is known for its focus on unique and creative goods. The company’s "House of Brands" includes Depop, a fashion resale marketplace, and Reverb, a large online marketplace for music gear. Each marketplace benefits from shared expertise while operating independently.

This announcement comes as Etsy continues to navigate a competitive and rapidly changing technology landscape. Trading at $46.69, InvestingPro analysis suggests the stock is currently undervalued based on its Fair Value model. The company has indicated that it will use its Investor Relations website and Etsy News Blog for further disclosures in compliance with Regulation FD. For detailed valuation metrics and comprehensive analysis of Etsy’s financial health, investors can access the full Pro Research Report, available exclusively to InvestingPro subscribers.

The information in this article is based on a press release statement.

In other recent news, Etsy has reported a decline in its fourth-quarter Gross Merchandise Sales (GMS), falling short of Wall Street’s expectations by approximately 3%. Despite this, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) surpassed estimates by 2% due to an improved take-rate and gross margin. Various analyst firms have adjusted their price targets for Etsy, reflecting mixed sentiments. Loop Capital maintained a Sell rating, reducing its price target to $40, while Cantor Fitzgerald also lowered its target to $43, maintaining a Neutral rating. Guggenheim, however, kept a Buy rating but adjusted its target to $70, citing potential long-term improvements through strategic investments. Raymond James cut its target to $60 but maintained an Outperform rating, noting a favorable risk/reward profile due to Etsy’s current valuation. The company faces challenges with its GMS growth amid macroeconomic pressures and evolving market dynamics. Etsy’s recent executive change, with Lanny Baker appointed as the new Chief Financial Officer, has been noted by analysts as a factor in the company’s cautious financial outlook.

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