Amazon is mainly hardware, payments, data storage, logistics, and media-based company. Amazon was founded by Jeff Bezos in Washington on 1994 and started as a small online bookshop and then it became the largest internet-based company. Amazon attracts customers by using the “flywheel” philosophy which is related to lower prices. Amazon is a company that mainly puts the expense of its shareholders and gives the first place to its customers.
What is Trunkt LLC?
Started trunkt LLC for business marketing services and promoting the goods and services of independent designers by producing advertising material to improve and promote their talent. Trunkt has become a dynamic community of wholesale sellers and they experimented with different concepts like trunk shows, e-commerce sites, printed catalogs, etc.
Trunkt llc has been acquired by Etsy?
What is Etsy?
Etsy was founded as an online marketplace where crafters, artists, and makers could sell their handmade items and also vintage goods, and craft supplies. Etsy was founded by Rob Kalin, Haim Schoppik, Jared Tarbell, and Chris Maguire in New York on 2005. Setting up a shop is more affordable and easier on Etsy. And also, there is higher competition on Etsy than on Amazon.
Trunkt is now Etsy wholesale.
Etsy needs to expand to serve a new class of sellers and buyers so then Etsy has decided to bring Trunkt which specializes in selling handmade/artisanal goods wholesale. Etsy asked Trunkt to build the first version of Etsy wholesale based on the Trunkt platform and Trunkt accepted that.