Etsy delays seller payments amid Silicon Valley Bank collapse

Etsy has beaten Wall Street expectations for second-quarter revenue as demand for handcrafted goods and personalised gifts remained strong
General RetailNews
// Online marketplace Etsy has warned sellers that it will be delaying payments in the wake of Silicon Valley Bank’s (SVB) collapse.
// To find out more, visit Retail Gazette’s sister site, Charged Retail: click here

Regulators shut down SVB on Friday, marking the largest US bank collapse since the 2008 financial crisis.

As a result, several tech firms have been impacted, with Roku saying it could lose as much as 26% of its cash reserves, or more than $487 million, due to the situation.

FIND OUT MORE ABOUT ETSY’S STEPS HERE

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Etsy delays seller payments amid Silicon Valley Bank collapse

Etsy has beaten Wall Street expectations for second-quarter revenue as demand for handcrafted goods and personalised gifts remained strong

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// Online marketplace Etsy has warned sellers that it will be delaying payments in the wake of Silicon Valley Bank’s (SVB) collapse.
// To find out more, visit Retail Gazette’s sister site, Charged Retail: click here

Regulators shut down SVB on Friday, marking the largest US bank collapse since the 2008 financial crisis.

As a result, several tech firms have been impacted, with Roku saying it could lose as much as 26% of its cash reserves, or more than $487 million, due to the situation.

FIND OUT MORE ABOUT ETSY’S STEPS HERE

Click here to sign up to Retail Gazette‘s free daily email newsletter

General RetailNews

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