# How Etsy Identified Its Purpose and Executed a Turnaround | Cold Call

Page: https://stenobird.com/podcast/harvard-business-review-7777387/how-etsy-identified-its-purpose-and-executed-a-turnaround-cold-call
Text version: https://stenobird.com/podcast/harvard-business-review-7777387/how-etsy-identified-its-purpose-and-executed-a-turnaround-cold-call.md
Podcast: [Harvard Business Review](https://stenobird.com/podcast/harvard-business-review-7777387)
Published: 2026-09-08T05:05:00+00:00
Episode link: https://traffic.megaphone.fm/VG9844155516.mp3?updated=1778677757
Audio file: https://traffic.megaphone.fm/VG9844155516.mp3?updated=1778677757
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JSON: https://stenobird.com/v1/public/podcasts/harvard-business-review-7777387/episodes/how-etsy-identified-its-purpose-and-executed-a-turnaround-cold-call
Duration seconds: 2019

## Resource

How Etsy Found Its Purpose and Crafted a Turnaround | Cold Call 12 Jul 2023 --- Etsy, the online seller of handmade goods, was founded in 2005 as an alternative to companies that sold mass-manufactured products. The company grew substantially but remained unprofitable under the leadership of two early CEOs. Ten years later, Etsy went public and was forced into a new arena, where it was beholden to stakeholders who demanded financial success and accountability. Unable to contain costs, the company was almost bought out by private equity firms in 2017 – until CEO Josh Silverman arrived with a mission to save the company financially and, in the process, save its soul. Harvard Business School professor Ranjay Gulati discusses the purpose-driven turnaround Silverman and his team led at Etsy – to make the company profitable and improve its social and environmental impact – in the case, “Etsy: Crafting a Turnaround to Save the Business and Its Soul.” (https://hbsp.harvard.edu/product/821092-PDF-ENG?Ntt=821092) This episode originally aired on Cold Call on March 22, 2022. You can also listen to this episode on HBR.org, and wherever you listen to podcasts: - HBR.org (transcript available here): https://hbr.org/podcast/2022/03/how-etsy-found-its-purpose-and-crafted-a-turnaround - Apple Podcasts: https://podcasts.apple.com/us/podcast/how-etsy-found-its-purpose-and-crafted-a-turnaround/id1156646189?i=1000554854577 - Spotify: https://open.spotify.com/episode/2dx8t9mEiBplJcucOS1Lwc?si=2bb154762918456c - Stitcher: https://www.stitcher.com/show/cold-call/episode/how-etsy-found-its-purpose-and-crafted-a-turnaround-201597920 - Google Podcasts: https://podcasts.google.com/feed/aHR0cDovL2ZlZWRzLmhhcnZhcmRidXNpbmVzcy5vcmcvaGFydmFyZGJ1c2luZXNzL2NvbGQtY2FsbA/episode/dGFnOmF1ZGlvLmhici5vcmcsM…

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## Transcript

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