Senator Charles E. Schumer

FOR IMMEDIATE RELEASE: July 18, 2012

SCHUMER ANNOUNCES ETSY CEO CHAD DICKERSON JOINS GROUP OF NAT’L BUSINESS LEADERS AND U.S. SENATORS IN WASHINGTON D.C. TO DISCUSS SUCCESS OF ONE OF BROOKLYN’S LEADING TECH COMPANIES

Etsy Is One of New York’s Fastest Growing Tech Businesses, and An Anchor for New York’s “Silicon Alley”

In Meeting at Capitol, Etsy CEO Dickerson and Schumer Encourage Pro- Innovation and Entrepreneurship Policy to Senate Caucus

Schumer: New York Is Rapidly Growing as Technology Hub, And Its Pioneers Must Help Develop Federal Policy to Drive National Growth

United States Senator Charles E. Schumer today announced he asked Etsy CEO Chad Dickerson to speak before the Senate Steering and Outreach Committee this morning at a meeting focused on successful job creation and business policy, as part of his continuing effort to reach out and promote New York’s rapidly expanding tech start-up, entrepreneurship and venture capital sectors. Dickerson is the CEO of Brooklyn-based e-commerce company Etsy, one of New York’s fastest growing businesses, and one of the largest platforms for small business entrepreneurs in the world. Etsy sellers specialize in handmade and vintage goods and supplies, and boast over 17 million members in more than 150 countries.

“I am laser-focused on promoting innovation and entrepreneurship in New York and across the country, and technology is clearly one sector that is creating these new jobs,” said Schumer. “Etsy is a great New York company that has a lot to teach us about how to create jobs and innovate in these difficult economic times. New York’s technology sector and start-up culture are keys to the state’s and nation’s economic future.”

“At Etsy, we provide a platform for people around the country and the world to create and run their own creative, independent businesses,” said Etsy CEO Chad Dickerson. “As a rapidly growing technology company, we proudly employ hundreds of people here in New York. I am eager to discuss Etsy's network of entrepreneurs, how they use technology to create new business opportunities, and how future public policy can have a positive effect on our collective economic future.”

In the past few years, New York has experienced rapid growth as a technology and venture capital hub, and has emerged as an East Coast leader in terms of venture capital investments and the number of startups. A recent study by the Center for an Urban Future estimated that over 1,000 startups were created in New York since 2007. These companies are having an impact on New York’s economy: Etsy, an online marketplace for independent, creative businesses, grew from $170,000 in sales in 2005 to $526 million last year. Overall, internet technology jobs have increased by 60% since 2003 – from 33,000 to nearly 53,000.

Schumer today announced he joined Etsy CEO Chad Dickerson in the Capitol to participate in a Steering and Outreach Committee (DSOC) forum on successful businesses in the United States. Schumer said that this is another example of getting the innovative tech sector in New York engaged in the national policy conversation in Washington. With the lawmakers eager to hear from business leaders about the key to future growth and the current impediments to job creation, Etsy's CEO gave voice to the lessons and concerns of New York's emerging technology and venture capital sector, and the millions of Internet entrepreneurs empowered by the platforms they fund and build.

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