Etsy acquisition of creative electronic Products business website Grand St.

Personal Handicrafts Trading website Etsy announced today that the company has acquired the creative electronic Products business website Grand St. The two sides did not disclose the specific price of the acquisition, but people familiar with the matter said the purchase price of less than 10 million U.S. dollars. Previously, the media had the Grand St, known as the "Electronic product version Etsy."

Grand St was officially launched last summer, offering a sales distribution platform for innovative concept pioneer niche electronics makers and designers. Initially, the website launched a unique new electronic product each week, such as a solar USB charger and a miniature unmanned aerial vehicle. Another unique feature of Grand St is that it allows sellers to tell the story behind the product in text or video.

Not long ago, Grand St. also added the marketplace feature, which provides "pre-order" functionality for equipment that requires mass production to complete product development. If the product is still in the process of collecting user feedback, the beta feature of Grand St will allow you to distribute prototype electronic product testing to users.

All 8 employees of Grand St. will join Etsy. Grand St. The brand will remain in the short term, and it is unclear whether the future will be integrated into Etsy.

Previously, Grand St had won a round of 1.3 million dollars in seed investment.