Etsy (ETSY) 10-K 25 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Feb. 18, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36911
Entity Registrant Name	ETSY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-4898921
Entity Address, Address Line One	117 Adams Street
Entity Address, City or Town	Brooklyn
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11201
City Area Code	718
Local Phone Number	880-3660
Title of 12(b) Security	Common Stock
Trading Symbol	ETSY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 25,872
Entity Common Stock, Shares Outstanding (in shares)		127,032,946
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement for its 2022 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission no later than 120 days after December 31, 2021, are incorporated by reference in Part III of this Annual Report.
Entity Central Index Key	0001370637
Document Fiscal Year Focus	2021
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	New York, New York

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 780,196	$ 1,244,099
Short-term Investments	204,416	425,119
Accounts receivable, net	27,266	22,605
Prepaid and other current assets	109,417	56,152
Funds receivable and seller accounts	220,206	146,806
Total current assets	1,341,501	1,894,781
Restricted cash	5,341	5,341
Property and equipment, net	275,062	112,495
Goodwill	1,371,064	140,810
Intangible assets, net	607,170	187,449
Deferred tax assets	95,863	115
Long-term investments	85,034	39,094
Other assets	50,774	24,404
Total assets	3,831,809	2,404,489
Current liabilities:
Accounts payable	28,007	40,883
Accrued expenses	328,118	232,352
Finance lease obligations—current	2,418	8,537
Funds payable and amounts due to sellers	220,206	146,806
Deferred revenue	12,339	11,264
Other current liabilities	24,500	14,822
Total current liabilities	615,588	454,664
Finance lease obligations—net of current portion	110,283	44,979
Deferred tax liabilities	79,484	58,481
Long-term debt, net	2,275,418	1,062,299
Other liabilities	122,417	41,642
Total liabilities	3,203,190	1,662,065
Commitments and contingencies
Stockholders’ equity:
Common stock ($0.001 par value, 1,400,000,000 shares authorized as of December 31, 2021 and 2020; 127,022,118 and 125,835,931 shares issued and outstanding as of December 31, 2021 and 2020, respectively)	127	126
Preferred stock ($0.001 par value, 25,000,000 shares authorized as of December 31, 2021 and 2020)	0	0
Additional paid-in capital	631,762	883,166
Retained earnings (accumulated deficit)	71,744	(146,819)
Accumulated other comprehensive (loss) income	(75,014)	5,951
Total stockholders’ equity	628,619	742,424
Total liabilities and stockholders’ equity	$ 3,831,809	$ 2,404,489

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,400,000,000	1,400,000,000
Common stock, shares issued (in shares)	127,022,118	125,835,931
Common stock, shares outstanding (in shares)	127,022,118	125,835,931
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 2,329,114	$ 1,725,625	$ 818,379
Cost of revenue	654,512	464,745	271,036
Gross profit	1,674,602	1,260,880	547,343
Operating expenses:
Marketing	654,804	500,756	215,570
Product development	271,535	180,080	121,878
General and administrative	282,531	156,035	121,134
Total operating expenses	1,208,870	836,871	458,582
Income from operations	465,732	424,009	88,761
Other income (expense):
Loss on extinguishment of debt	0	(16,855)	0
Interest expense	(9,885)	(42,025)	(24,320)
Interest and other income	2,137	7,102	13,199
Foreign exchange gain (loss)	13,670	(6,522)	3,006
Total other income (expense)	5,922	(58,300)	(8,115)
Income before income taxes	471,654	365,709	80,646
Benefit (provision) for income taxes	21,853	(16,463)	15,248
Net income	$ 493,507	$ 349,246	$ 95,894
Net income per share attributable to common stockholders:
Basic (in dollars per share)	$ 3.88	$ 2.88	$ 0.80
Diluted (in dollars per share)	$ 3.40	$ 2.69	$ 0.76
Weighted average common shares outstanding:
Basic (in shares)	127,224,974	121,251,588	119,665,248
Diluted (in shares)	146,683,324	136,414,592	125,720,073

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 493,507	$ 349,246	$ 95,894
Other comprehensive (loss) income:
Cumulative translation adjustment	(80,203)	14,468	(1,078)
Unrealized (losses) gains on marketable securities, net of tax (benefit) expense of $(240), $73, and $65, respectively	(762)	182	192
Total other comprehensive (loss) income	(80,965)	14,650	(886)
Comprehensive income	$ 412,542	$ 363,896	$ 95,008

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Unrealized holding gain (loss) arising during period, tax	$ (240)	$ 73	$ 65

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment	(Accumulated Deficit) Retained Earnings	(Accumulated Deficit) Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2018			119,771,702
Beginning balance at Dec. 31, 2018	$ 400,898	$ 7,116	$ 120	$ 562,033		$ (153,442)	$ 7,116	$ (7,813)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 45,697			45,697
Exercise of vested options (in shares)	840,835		840,835
Exercise of vested options	$ 9,791		$ 1	9,790
Issuance of convertible senior notes, net of issuance costs and taxes	115,980			115,980
Purchase of capped calls, net of taxes	(58,324)			(58,324)
Vesting of restricted stock units, net of shares withheld (in shares)			832,642
Vesting of restricted stock units, net of shares withheld	$ (32,547)		$ 1	(32,548)
Stock repurchase (in shares)	(1,008,211)		(3,102,407)
Stock repurchase	$ (176,985)		$ (3)			(176,982)
Other comprehensive loss	(886)							(886)
Net income	95,894					95,894
Ending balance (in shares) at Dec. 31, 2019			118,342,772
Ending balance at Dec. 31, 2019	$ 406,634		$ 119	642,628		(227,414)		(8,699)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	Accounting Standards Update 2020-06
Stock-based compensation	$ 66,350			66,350
Exercise of vested options (in shares)	1,834,773		1,834,773
Exercise of vested options	$ 25,319		$ 1	25,318
Issuance of convertible senior notes, net of issuance costs and taxes	102,131			102,131
Purchase of capped calls, net of taxes	(56,848)			(56,848)
Settlement of convertible senior notes, net of taxes (in shares)			7,271,723
Settlement of convertible senior notes, net of taxes	151,311		$ 7	151,304
Vesting of restricted stock units, net of shares withheld (in shares)			825,200
Vesting of restricted stock units, net of shares withheld	$ (47,716)		$ 1	(47,717)
Stock repurchase (in shares)	(1,161,947)		(2,438,537)
Stock repurchase	$ (268,653)		$ (2)			(268,651)
Other comprehensive loss	14,650							14,650
Net income	$ 349,246					349,246
Ending balance (in shares) at Dec. 31, 2020	125,835,931		125,835,931
Ending balance at Dec. 31, 2020	$ 742,424	$ (200,910)	$ 126	883,166	$ (228,738)	(146,819)	$ 27,828	5,951
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	$ 139,280			139,280
Exercise of vested options (in shares)	994,456		994,456
Exercise of vested options	$ 22,706		$ 1	22,705
Purchase of capped calls, net of taxes	(64,673)			(64,673)
Settlement of convertible senior notes, net of taxes (in shares)			985,522
Settlement of convertible senior notes, net of taxes	(423)		$ 1	(424)
Vesting of restricted stock units, net of shares withheld (in shares)			818,442
Vesting of restricted stock units, net of shares withheld	$ (119,553)		$ 1	(119,554)
Stock repurchase (in shares)	(554,718)		(1,612,233)
Stock repurchase	$ (302,774)		$ (2)			(302,772)
Other comprehensive loss	(80,965)							(80,965)
Net income	$ 493,507					493,507
Ending balance (in shares) at Dec. 31, 2021	127,022,118		127,022,118
Ending balance at Dec. 31, 2021	$ 628,619		$ 127	$ 631,762		$ 71,744		$ (75,014)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Cash flows from operating activities
Net income	$ 493,507	$ 349,246	$ 95,894
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	139,910	65,114	44,395
Depreciation and amortization expense	74,267	58,189	48,031
Provision for expected credit losses	16,031	15,033	10,963
Foreign exchange (gain) loss	(14,071)	7,349	(5,708)
Amortization of debt issuance costs	3,719	2,751	2,006
Non-cash interest expense	578	36,086	19,108
Interest expense (income) on marketable securities	3,154	2,729	(4,182)
Deferred (benefit) provision for income taxes	(88,952)	2,202	(15,248)
Loss on extinguishment of debt	0	16,855	0
Other non-cash (income) expense, net	(475)	(795)	1,667
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(19,256)	(22,540)	(12,656)
Funds receivable and seller accounts	(83,941)	(90,141)	(23,177)
Prepaid expenses and other current assets	(44,186)	(16,963)	(14,156)
Other assets	(25,159)	4,816	4,045
Accounts payable	(14,169)	14,550	(953)
Accrued and other current liabilities	84,789	146,634	37,410
Funds payable and amounts due to sellers	83,941	90,141	23,177
Deferred revenue	1,441	3,312	191
Other liabilities	40,423	(5,612)	(3,887)
Net cash provided by operating activities	651,551	678,956	206,920
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	(1,699,974)	0	(270,409)
Cash paid for asset acquisition and intangible assets	(1,937)	(880)	(1,963)
Purchases of property and equipment	(11,248)	(1,445)	(7,528)
Development of internal-use software	(16,922)	(5,665)	(7,750)
Purchases of marketable securities	(418,518)	(499,237)	(661,821)
Sales and maturities of marketable securities	590,630	495,848	461,098
Net cash used in investing activities	(1,557,969)	(11,379)	(488,373)
Cash flows from financing activities
Payment of tax obligations on vested equity awards	(118,167)	(47,716)	(32,547)
Repurchase of stock	(302,774)	(268,653)	(176,985)
Proceeds from exercise of stock options	22,706	25,319	9,791
Proceeds from issuance of convertible senior notes	1,000,000	650,000	650,000
Payment of debt issuance costs	(13,300)	(10,531)	(11,904)
Purchase of capped calls	(85,000)	(74,685)	(76,180)
Settlement of convertible senior notes	(43,900)	(137,168)	0
Payments on finance lease obligations	(8,864)	(9,211)	(10,833)
Other financing, net	2,048	(8,073)	8,265
Net cash provided by financing activities	452,749	119,282	359,607
Effect of exchange rate changes on cash	(10,234)	13,947	(1,846)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(463,903)	800,806	76,308
Cash, cash equivalents, and restricted cash at beginning of period	1,249,440	448,634	372,326
Cash, cash equivalents, and restricted cash at end of period	785,537	1,249,440	448,634
Supplemental cash flow disclosures:
Cash paid for interest	6,054	3,405	3,206
Cash paid for income taxes, net of refunds	94,160	8,535	2,084
Supplemental non-cash disclosures:
Replacement share-based awards issued in conjunction with acquisitions	5,686	0	0
Stock-based compensation capitalized in development of capitalized software and asset additions in exchange for liabilities	7,297	2,852	2,450
Lease assets obtained in exchange for new lease liabilities	68,023	3,183	849
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	780,196	1,244,099	443,293
Restricted cash	5,341	5,341	5,341
Total cash and cash equivalents, and restricted cash	$ 785,537	$ 1,249,440	$ 448,634

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - 2018 Notes - Convertible Debt - shares shares in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2018
Debt conversion, converted instrument, (In Shares)	7.3	1	7.3
Debt instrument, interest rate, stated percentage				0.00%

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 1—Basis of Presentation and Summary of Significant Accounting Policies Description of Business Etsy operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces - which collectively create a “House of Brands” - share the Company’s mission, common levers for growth, similar business models, and a strong commitment to use the power of business and technology to strengthen communities and empower people. The Company’s primary marketplace, Etsy.com, is the global destination for unique and creative goods. The Company generates revenue primarily from marketplace activities, including transaction, listing, and payments processing fees, and fees for optional seller services, which include on-site advertising and shipping label services. Basis of Consolidation The consolidated financial statements include the accounts of Etsy, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. On July 12, 2021, Etsy acquired all of the issued share capital of Depop Limited (“Depop”) pursuant to a share purchase; on July 2, 2021, Etsy acquired all the outstanding shares of Elo7 Serviços de Informática S.A. (“Elo7”) by means of a merger; and on August 15, 2019, Etsy acquired all of the issued and outstanding capital stock of Reverb Holdings, Inc. (“Reverb”). The financial results of Depop, Elo7, and Reverb have been included in Etsy’s consolidated financial statements from the dates of acquisition. See “Note 5—Business Combinations.” Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Company to make estimates and judgments that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates and judgments. The accounting estimates that require management’s most subjective judgments include: stock-based compensation; income taxes; the valuation of acquired intangible assets, developed technology, and goodwill as part of purchase price allocations for business combinations; valuation of goodwill; leases; and fair value of convertible senior notes. As of December 31, 2021, the effects of the ongoing COVID-19 pandemic on the Company’s business, results of operations, and financial condition continue to evolve. As a result, many of the Company’s estimates and judgments require increased judgment and carry a higher degree of variability and volatility. As additional information becomes available, the Company’s estimates may change materially in future periods. Revenue Recognition The Company’s revenue is diversified; generated from a mix of marketplace activities and other optional services the Company provides to sellers to help them generate more sales and scale their businesses. Revenues are recognized as the Company transfers control of promised goods or services to sellers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company evaluates whether it is appropriate to recognize revenue on a gross or net basis based upon its evaluation of whether the Company obtains control of the specified goods or services by considering if it is primarily responsible for fulfillment of the promise, has inventory risk, and has the latitude in establishing pricing and selecting suppliers, among other factors. Based on its evaluation of these factors, revenue is recorded either gross or net of costs associated with the transaction. The Company’s revenues are recognized on a gross basis, with the primary exception being shipping label revenue, which is recorded on a net basis. Sales and usage-based taxes are excluded from revenues. Marketplace revenue: As members of the Etsy.com marketplace, Etsy sellers receive the benefit of marketplace activities, including listing items for sale, completing sales transactions, and payments processing, which represents a single stand-ready performance obligation. Etsy marketplace sellers pay a fixed listing fee of $0.20 for each item listed on Etsy.com, and the listing fee is recognized ratably over a four-month listing period, unless the item is sold or the seller re-lists it, at which time any remaining listing fee is recognized. Listing fees are nonrefundable. Variable fees include transaction fees and payments processing fees. Etsy marketplace sellers pay a 5% transaction fee for each completed transaction, inclusive of shipping fees charged. In May 2020, the Etsy marketplace started charging sellers for Offsite Ads, whereby sellers pay a transaction fee of 12% or 15% of the value of a sale based on the seller’s volume of sales, if such sale is generated from an advertisement placed by Etsy on third-party internet platforms. The corresponding expense is recorded in marketing. Etsy marketplace sellers pay Etsy Payments processing fees, which typically vary between 3.0% and 4.5% of an item’s total sale price, including shipping, plus a flat fee per order that depends on the country in which a seller’s bank account is located, plus an additional transaction fee for foreign currency payments. The transaction fee, Offsite Ads transaction fee, and Etsy Payments processing fees are recognized when the corresponding transaction is consummated, and are recorded net of refunds. Reverb, Depop, and Elo7 marketplace revenue is comprised of seller transaction fees and payments processing fees, which are recognized when the transaction is consummated, and are recorded net of refunds. Reverb sellers, Elo7 sellers, and Depop sellers pay a 5%, 7%, and 10% transaction fee, respectively, for each completed transaction, inclusive of shipping fees charged. Services revenue: Services revenue is derived from optional services offered to Etsy sellers, which primarily include on-site advertising and shipping labels. Each service represents an individual obligation that the Company must perform when a seller chooses to use the service. On-site advertising services consist of cost-per-click fees an Etsy seller pays for prominent placement of her listings in search results in the Etsy.com marketplace. These fees are nonrefundable and are charged to a seller’s Etsy bill when the listing is clicked, at which time revenue is recognized. On-site advertising services, beginning in the second quarter of 2020 are referred to as “Etsy Ads,” and prior to the third quarter of 2019 were referred to as “Promoted Listings.” From the third quarter of 2019 to the beginning of the second quarter of 2020, Etsy offered a combined “Etsy Ads” offering. Under this offering, Etsy streamlined Promoted Listings and Google Shopping, an off-site marketing tool for Etsy sellers, into one unified ad platform, in which Etsy sellers could set a budget that allowed Etsy to allocate that budget between channels, targeting optimal return on seller spend. Revenue from this unified ad platform consisted of cost-per-click fees, which were nonrefundable and were charged to a seller’s Etsy bill when the ad was clicked. The revenue that the Company recognized related to the unified ad platform was recorded on a gross basis in Services revenue with an offsetting expense recorded in cost of revenue. During the second quarter of 2020, Etsy transitioned from the combined “Etsy Ads” on-site and offsite advertising offering to two separate advertising offerings: on-site advertising services referred to as “Etsy Ads” as described above (and formerly referred to as “Promoted Listings”) and reported in Services revenue, and Offsite Ads as reported in Marketplace revenue and referred to above in Marketplace revenue . Revenue from shipping labels consists of fees an Etsy seller pays the Company when she purchases shipping labels through its platform, net of the cost the Company incurs in purchasing those shipping labels. The Company provides its sellers access to purchase shipping labels at discounted pricing due to the volume of purchases through its platform. The Company recognizes shipping label revenue when an Etsy seller purchases a shipping label. The Company recognizes shipping label revenue on a net basis as it is an agent in this arrangement and does not take control of shipping labels prior to transferring the labels to the Etsy seller. Etsy shipping label revenue is recorded net of refunds. The Reverb and Elo7 marketplaces offer on-site advertising services. They, as well as the Depop marketplace, also offer shipping labels services. Each service represents an individual obligation that the Company must perform when a seller chooses to use the service. Advertising revenue is nonrefundable, while shipping label revenue is recorded net of refunds. Contract balances: The Company records deferred revenues when cash payments are received or due in advance of the completion of the four-month listing period, which represents the value of the Company’s unsatisfied performance obligations, unless the item is sold or the seller re-lists it, at which time any remaining listing fee is recognized. The amount of revenue recognized in the year ended December 31, 2021 that was included in the deferred balance at January 1, 2021 was $11.3 million. Cost of Revenue Cost of revenue primarily consists of the cost of interchange and other fees for credit card processing services, credit card verification service fees, credit card chargebacks to support payments revenue, and costs of refunds made to buyers that the Company is not able to collect from sellers. Cost of revenue also includes expenses associated with the operation and maintenance of the Company’s platforms, including employee compensation-related expenses, hosting and bandwidth costs, and depreciation and amortization. With the shift to the combined “Etsy Ads” offering from the third quarter of 2019 to the beginning of the second quarter of 2020, amounts spent on Google Shopping, which were previously recorded on a net basis in Services revenue, were recorded on a gross basis in Services revenue with an offsetting expense recorded in cost of revenue. Marketing Marketing expenses primarily consist of direct marketing expenses, which largely includes digital marketing and television ad and digital video expenses. Marketing expenses also include employee compensation-related expenses to support the Company’s marketing initiatives and amortization expense related to acquired customer relationship and trademark intangible assets. Advertising expenses are recognized as incurred, with the exception of certain production expenses related to television and display advertising which are deferred until the first time an advertisement airs or is published. If such advertising is not expected to occur, costs are expensed immediately. Advertising expenses related to direct marketing, included in marketing expenses on the Consolidated Statements of Operations, were $559.3 million, $442.2 million, and $175.2 million in the years ended December 31, 2021, 2020, and 2019, respectively. Product Development Product development expenses consist primarily of employee compensation-related expenses for engineering, product management, product design, and product research activities, net of costs capitalized to website development and internal-use software. Additional expenses include consulting costs related to the development, quality assurance, and testing of new technology and enhancement of the Company’s existing technology. Stock-Based Compensation Service-based stock options and restricted stock units (“RSUs”) are awarded to employees and members of the Company’s Board of Directors and performance-based restricted stock units (“PBRSUs”) are awarded to employees. All such awards are measured at fair value at each grant date. The PBRSUs include financial performance-based restricted stock units (“Financial PBRSUs”) and total shareholder return performance-based restricted stock units (“TSR PBRSUs”), both of which have performance and service vesting requirements. The Company recognizes forfeitures as they occur. The Company calculates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model and the expense is recognized over the requisite service period. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Starting in the second quarter of 2021, the Company updated certain assumptions used to determine the fair value of its stock options under the Black-Scholes option-pricing model, including the expected volatility and expected term assumptions. Given the Company’s sufficient trading history as of the second quarter of 2021, the Company calculates expected volatility based solely on the historical volatility of Etsy’s stock price observations over a period equivalent to the expected term of the stock option grants. Prior to the second quarter of 2021, the Company estimated expected volatility by taking the average historical price volatility for Etsy and certain industry peers. Further, given that the Company has sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term of its stock options, beginning in the second quarter of 2021, the Company estimates its expected term using historical option exercise behavior and expected post-vest cancellation data, averaged with an assumption that recently granted options will be exercised ratably from vesting to the expiration of the stock option. Prior to the second quarter of 2021, the Company used the simplified method to calculate the expected term for awards issued to employees or members of the Company’s Board of Directors. The fair value of RSUs is determined based on the closing price of the Company’s common stock on Nasdaq on the grant date. Additionally, the fair value of the Financial PBRSUs is determined using a probability assessment and the fair value of the TSR PBRSUs with market conditions is determined using a Monte-Carlo simulation model. The requisite service period for stock options and RSUs is generally four years from the grant date. For PBRSUs, the Company recognizes stock-based compensation expenses on a straight-line basis over the longer of the derived, explicit, or implicit service period. As of interim and annual reporting periods, the Financial PBRSUs stock-based compensation expense is adjusted based on expected achievement of performance targets, while TSR PBRSUs stock-based compensation expense is not adjusted. Foreign Currency The Company has determined that the functional currency for each of its foreign operations is the currency of the primary cash flow of the operations, which is generally the local currency in which the operation is located. All assets and liabilities are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Revenue and expenses are translated using average exchange rates during the period. Foreign currency translation adjustments are reflected in stockholders’ equity as a component of other comprehensive income (loss). Transaction gains and losses including intercompany balances denominated in a currency other than the functional currency of the entity involved are included in foreign exchange gain (loss) within other income (expense) in the Consolidated Statements of Operations. Income Taxes The income tax benefit is based on income before income taxes and is accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to settle. The Company recognizes future tax benefits, such as net operating losses and tax credits, to the extent that realizing these benefits is considered in its judgment to be more likely than not. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company regularly reviews the recoverability of its deferred tax assets by considering its historic profitability, projected future taxable income, timing of the reversals of existing temporary differences and the feasibility of its tax planning strategies. Where appropriate, the Company records a valuation allowance against deferred tax assets that are deemed not more likely than not to be realizable. The Company records tax expense related to Global Intangible Low Taxed Income (“GILTI”) as a current period expense when incurred using the period cost method. The Company accounts for uncertainty in income taxes using a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by the taxing authorities. The amount recognized is measured as the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate audit settlement. The Company recognizes interest and penalties, if any, associated with income tax matters as part of the income tax provision and includes accrued interest and penalties with the related income tax liability in the Consolidated Balance Sheets. Net Income Per Share Basic net income per share attributable to common stockholders is computed by dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income per share is computed by dividing net income adjusted on an if-converted basis for the period by the weighted-average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying outstanding stock-based compensation awards and convertible senior notes using the treasury stock method or the if-converted method, as applicable, are included when calculating net income per share of common stock attributable to common stockholders when their effect is dilutive. The calculation of diluted net income per share excludes all anti-dilutive shares of common stock. Segment Data The Company identifies operating segments as components of an entity for which discrete financial information is available and is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in making decisions regarding resource allocation and performance assessment. The Company’s CODM is its Chief Executive Officer. The Company has determined it has four operating segments, Etsy, Reverb, Depop, and Elo7, which qualify for aggregation as one reportable segment, for purposes of allocating resources and evaluating financial performance. Cash and Cash Equivalents, and Short- and Long-term Investments The Company considers all investments with an original maturity of three months or less at time of purchase to be cash equivalents. Cash restricted by third parties is not considered cash and cash equivalents. Short-term investments, consisting of certificates of deposit, commercial paper, corporate bonds, and U.S. Government and agency securities with original maturities of greater than three months but less than one year when purchased, are classified as available-for-sale and are reported at fair value using the specific identification method. Long-term investments, consisting of corporate bonds and U.S. Government and agency securities with original maturities of greater than twelve months but less than 37 months when purchased, are classified as available-for-sale and are reported at fair value using the specific identification method. Unrealized gains and losses are excluded from earnings and reported as a component of other comprehensive income (loss), net of related tax (expense) benefit. Restricted Cash The Company classifies any cash balances that are legally restricted as to withdrawal or usage as restricted cash on the Consolidated Balance Sheets. In connection with the Company’s noncancellable Brooklyn lease agreement, which expires in 2039, the Company established a $5.3 million collateral account, which is reflected in the restricted cash balance as of December 31, 2021 and 2020. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, short- and long-term investments, and funds receivable and seller accounts. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, to the extent eligible, such amounts may exceed federally insured limits. The Company believes that minimal credit risk exists with respect to these investments due to the credit ratings of the financial institutions that hold its short- and long-term investments. In addition, funds receivable settle relatively quickly, and the Company’s historical experience of losses has not been significant. Fair Value of Financial Instruments Management believes that the fair value of financial instruments, consisting of cash and cash equivalents, short- and long-term investments, accounts receivable, funds receivable and seller accounts, accounts payable, and funds payable and amounts due to sellers approximates carrying value due to the immediate or short-term maturity associated with these instruments or the Company’s ability to liquidate these instruments at short notice with minimal penalties. Prior to the adoption of ASU 2020-06 in the first quarter of 2021, in accounting for the issuance of the 0.125% Convertible Senior Notes due 2027 (the “2020 Notes”), 0.125% Convertible Senior Notes due 2026 (the “2019 Notes”), and 0% Convertible Senior Notes due 2023 (the “2018 Notes” and together with the 0.25% Convertible Senior notes due 2028 (the “2021 Notes”), the 2020 Notes, and the 2019 Notes, the “Notes”), and the extinguishment of the 2018 Notes, discussed in “Note 12—Debt,” management used estimates and assumptions to calculate the carrying amounts of the liability and equity components by measuring the fair value of similar securities. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. To measure the fair value of a similar liability that does not have an associated convertible feature, the Company discounted the contractual cash flows of each of the Notes at an estimated interest rate for a comparable liability. The carrying amount of the equity component, representing the conversion option, which does not meet the criteria for separate accounting as a derivative as it is indexed to the Company’s stock, was determined by deducting the fair value of the liability component from the par value of each of the Notes. Following the adoption of ASU 2020-06, there is no bifurcation of the liability and equity components of the Notes. Subsequent to their issuance, the Notes are not measured at fair value in the Consolidated Balance Sheets, but the Company estimates the fair value of the liability component of the Notes through inputs that are observable in the market or that could be derived from observable market data, corroborated with quoted market prices of similar instruments. See Note 8—Fair Value Measurements for additional information. Accounts Receivable and Provision for Expected Credit Losses The Company’s trade accounts receivable are recorded at amounts billed to sellers and are presented on the Consolidated Balance Sheets net of the provision for expected credit losses. The provision is determined by a number of factors, including age of the receivable, current economic conditions, historical losses, and management’s assessment of the financial condition of sellers. Receivables are written off once they are deemed uncollectible. Estimates of uncollectible accounts receivable are recorded to general and administrative expense. Payment terms: On the first day of every month, Etsy sellers receive a statement outlining the previous month’s charges. Payment is due within 15 days of the date of the monthly statement. The payment terms for Reverb, Depop, and Elo7 are also short-term in nature. The following table provides a rollforward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected (in thousands): Year Ended 2021 2020 2019 Balance as of the beginning of period $ 9,757 $ 5,033 $ 4,720 Provision for expected credit losses 16,031 15,033 10,963 Amounts written off, net of recoveries (18,058) (10,309) (10,650) Balance as of the end of period $ 7,730 $ 9,757 $ 5,033 Funds Receivable and Seller Accounts and Funds Payable and Amounts due to Sellers The Company records funds receivable and seller accounts and funds payable and amounts due to sellers as current assets and liabilities, respectively, on the Consolidated Balance Sheets. Funds receivable and seller accounts represent amounts received or expected to be received from buyers via third-party credit card processors, which flow through a bank account for payment to sellers. The receivable amount recorded to funds receivable and seller accounts is the same amount recorded to the funds payable and amounts due to sellers, the latter of which represents the total amount due to sellers. For the Depop marketplace only, the amounts received from buyers which is owed to the sellers is paid to the sellers at point of sale, and therefore no funds receivable and seller accounts and no funds payable and amounts due to sellers are recorded related to the Depop marketplace. Property and Equipment Property and equipment, consisting principally of capitalized website development and internal-use software, building, leasehold improvements, and computer equipment, are recorded at cost. Depreciation and amortization begin at the time the asset is placed into service and is recognized using the straight-line method in amounts sufficient to relate the cost of depreciable and amortizable assets to the Consolidated Statements of Operations over their estimated useful lives. Repairs and maintenance are charged to the Consolidated Statements of Operations as incurred. Upon sale or retirement of assets, the cost and related accumulated depreciation or amortization are removed from the Consolidated Balance Sheet and the resulting gain or loss is reflected in the Consolidated Statement of Operations. When events or changes in circumstances require, the Company assesses the likelihood of recovering the cost of tangible long-lived assets based on its expectations of future profitability, undiscounted cash flows, and management’s plans with respect to operations to determine if the asset is impaired and subject to write-off. Measurement of any impairment loss is based on the excess of the carrying value of the asset over the fair value. Website Development and Internal-use Software Costs Costs incurred to develop the Company’s website and software for internal-use are capitalized and amortized over the estimated useful life of the software, generally three If an asset will continue to be used, but the net book value is not expected to be fully recoverable, the asset is impaired to its fair value. When events or changes in circumstances require, the Company assesses the likelihood of recovering the cost of website development and internal-use software costs based on its expectations of future profitability, undiscounted cash flows, and its plans with respect to operations to determine if the asset is impaired and subject to write-off. Measurement of any impairment loss is based on the excess of the carrying value of the asset over the fair value. Capitalized website development and internal-use software costs are included in property and equipment, net within the Consolidated Balance Sheets. Business Combinations The Company accounts for business combinations using the acquisition method of accounting. If the assets acquired are not a business, the Company accounts for the transaction as an asset acquisition. Under both methods, the purchase price is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of acquisition. Acquisition-related expenses represent expenses incurred by the Company to effect a business combination, including expenses such as finder’s fees and advisory, legal, accounting, valuation, and other professional or consulting fees, and are not included as a component of consideration transferred, but are accounted for as an expense in the period in which the costs are incurred or the services are rendered. Goodwill Goodwill represents the excess of the aggregate fair value of the consideration transferred in a business combination over the fair value of the assets acquired, net of liabilities assumed. The Company performs its annual goodwill impairment test during the fourth quarter or more frequently if events or changes in circumstances indicate that the goodwill may be impaired. Management has determined that the Company has four operating segments, Etsy, Reverb, Depop, and Elo7, which qualify for aggregation as one reportable segment, for purposes of allocating resources and evaluating financial performance, and each operating segment is determined to be a reporting unit. The Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, then additional impairment testing is not required. However, if the Company concludes otherwise, then it is required to perform a quantitative assessment for impairment. The quantitative assessment involves comparing the estimated fair value of the reporting unit with its respective book value, including goodwill. If the estimated fair value exceeds book value, goodwill is considered not to be impaired. If, however, the book value of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to the excess, not to exceed the total amount of goodwill allocated to that reporting unit. Intangible Assets Finite intangible assets are amortized using the straight-line method over the estimated useful life of the asset. When events or changes in circumstances indicate the carrying amount may not be recoverable, the Company reviews the assets for impairment. The Company measures recoverability by comparing the carrying amounts to the future undiscounted cash flows that the assets or asset groups are expected to generate. If the carrying value of the assets are not recoverable, the impairment recognized is measured as the amount by which the carrying value of the asset exceeds its fair value. Leases The Company’s lease arrangements generally include real estate and computer equipment assets. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. At lease commencement, the Company evaluates whether the arrangement is a finance or operating lease, and accounts for it accordingly. Operating leases are included in other assets, other current liabilities, and other liabilities on the Company’s Consolidated Balance Sheets. Finance leases are included in property and equipment, net, finance lease obligations, current, and finance lease obligations, net of current portion on the Company’s Consolidated Balance Sheets. Leases with a term greater than one year are recognized on the Consolidated Balance Sheets as right-of-use (“ROU”) assets, lease obligations, and, if applicable, long-term lease obligations in the financial statement line items cited above. The Com

Revenue

Revenue	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Note 2—Revenue The following table summarizes revenue disaggregated by Marketplace revenue and optional Services revenue for the periods presented (in thousands): Year Ended December 31, 2021 2020 2019 Marketplace revenue $ 1,745,824 $ 1,303,126 $ 593,646 Services revenue 583,290 422,499 224,733 Revenue $ 2,329,114 $ 1,725,625 $ 818,379 See “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Revenue Recognition” for additional information on revenue recognition. See “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Accounts Receivable and Provision for Expected Credit Losses” for additional information on the Company’s payment terms.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 3—Income Taxes The following are the domestic and foreign components of the Company’s income before income taxes (in thousands): Year Ended 2021 2020 2019 United States $ 274,354 $ 206,481 $ 14,544 International 197,300 159,228 66,102 Income before income taxes $ 471,654 $ 365,709 $ 80,646 The income tax (benefit) provision is comprised of the following (in thousands): Year Ended 2021 2020 2019 Current: U.S. Federal $ 23,118 $ 4,854 $ (3,967) U.S. State 12,754 3,953 1,053 International 31,227 5,455 352 Total current 67,099 14,262 (2,562) Deferred: U.S. Federal (53,328) (7,684) (19,734) U.S. State (14,843) (4,543) (1,564) International (20,781) 14,428 8,612 Total deferred (88,952) 2,201 (12,686) Total income tax (benefit) provision $ (21,853) $ 16,463 $ (15,248) For the years ended December 31, 2021, 2020 and 2019, the Company recorded an income tax (benefit) provision of $(21.9) million, $16.5 million, and $(15.2) million or an effective tax rate of (4.6)%, 4.5%, and (18.9)%, respectively. A reconciliation of the income tax (benefit) provision at the U.S. federal statutory income tax rate to the Company’s total income tax (benefit) provision is as follows (in thousands): Year Ended 2021 2020 2019 Income tax provision at the federal statutory rate $ 99,047 $ 76,799 $ 16,936 State and local income taxes net of federal benefit 11,134 7,693 973 Foreign income tax rate differential (26,215) (13,193) (5,454) Stock-based compensation (83,207) (45,391) (16,281) Research and development credit (23,396) (15,156) (9,864) U.S. tax reform (1) (5,155) 3,923 (4,197) Non-deductible expenses 833 1,719 1,784 Non-deductible acquisition costs (2) 5,643 — 274 Other (2) (537) 69 581 Total income tax (benefit) provision $ (21,853) $ 16,463 $ (15,248) (1) On December 22, 2017, the U.S. government enacted the Tax Cuts and Jobs Act (“TCJA”) which includes significant changes to the taxation of business entities. These changes include, among others, (a) a permanent reduction to the corporate income tax rate, (b) GILTI, a new tax on worldwide income, and (c) Foreign Derived Intangible Income (“FDII”), a deduction provided with respect to certain foreign earned income. Effective January 1, 2018, the Company became subject to several provisions of the TCJA including computations under GILTI and FDII. For all years presented, the Company has accounted for the impact of the new TCJA provisions, as well as any adjustments with respect to the re-measurement of its deferred taxes if applicable, as part of its income tax benefit using the currently available regulations and technical guidance on the interpretations of the TCJA. The Company has elected to account for GILTI as a period cost. The Company is not currently subject to the Base Erosion and Anti-Abuse Tax (“BEAT”) or Section 163(j) Interest Limitation. The Company will continue to monitor the forthcoming regulations and additional guidance of the GILTI, FDII, and BEAT provisions under the TCJA, which are complex and subject to continuing regulatory interpretation by the Internal Revenue Service (“IRS”). (2) Certain prior year amounts, which are not material, have been reclassified to conform to current year presentation. Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets (liabilities) are as follows (in thousands): As of December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 48,689 $ 3,087 Research and development credit carryforwards 367 10,925 Convertible debt 47,142 — Depreciation 47,055 — Lease liability 35,871 17,259 Stock-based compensation expense 19,319 9,616 Accrued bonus 11,850 8,592 Excess tax basis in intangible assets 1,585 1,223 Other deferred tax assets 14,651 4,645 Total deferred tax assets 226,529 55,347 Less: valuation allowance 1,834 1,398 Total net deferred tax asset 224,695 53,949 Deferred tax liabilities: Excess book basis in intangible assets (173,097) (37,155) Right-of-use asset (34,612) (16,092) Restructuring liability — (23,985) Convertible debt — (30,632) Depreciation — (4,210) Other deferred tax liabilities (607) (241) Total deferred tax liabilities (208,316) (112,315) Net deferred tax assets (liabilities) $ 16,379 $ (58,366) The Company has not recorded deferred income taxes and withholding taxes with respect to undistributed earnings from certain non-U.S. subsidiaries as such earnings are intended to be reinvested indefinitely. The undistributed earnings of non-U.S. subsidiaries considered to be indefinitely reinvested amounted to approximately $0.2 billion at December 31, 2021. The estimate of the unrecognized tax liabilities, if any, is not material. As of December 31, 2021, the Company had the following operating loss and tax credit carryforwards available to offset taxable income in future years (in thousands): December 31, 2021 Expiration Period U.S. Federal credit carryforwards $ 133 2038-2041 U.S. State net operating loss carryforwards 2,300 2034-Unlimited U.S. State credit carryforwards 681 2022-2031 Non-U.S. net operating loss carryforwards 190,161 Unlimited Utilization of the net operating losses (“NOLs”) is dependent on generating sufficient taxable income from the Company’s operations in each of the respective jurisdictions to which the NOLs relate, while taking into account tax filing methodologies and limitations and/or restrictions on the Company’s ability to use them. A significant component of the Company’s Non-U.S. NOLs were acquired as part of the acquisition of Depop. Certain U.K. tax laws impose limitations on the utilization of these NOLs by any other entity. All NOLs are also subject to review by relevant tax authorities in the jurisdictions to which they relate. The Company assesses the likelihood of its ability to realize the benefit of its deferred tax assets in each jurisdiction by evaluating all relevant positive and negative evidence at each reporting date. To the extent the Company determines that some or all of its deferred tax assets are not more likely than not to be realized, it establishes a valuation allowance. The following table summarizes the valuation allowance activity for the periods indicated (in thousands): Year Ended 2021 2020 2019 Balance as of the beginning of period $ 1,398 $ 883 $ 1,673 Additions charged to expense 580 506 504 Deletions credited to expense (112) (101) (4) Currency translation and other balance sheet activity (32) 110 (1,290) Balance as of the end of period $ 1,834 $ 1,398 $ 883 Unrecognized tax benefits The following table summarizes the unrecognized tax benefit activity for the periods indicated (in thousands): As of December 31, 2021 2020 2019 Balance as of the beginning of period $ 23,738 $ 19,933 $ 18,819 Additions based on tax positions related to the current year 5,024 2,507 1,847 Additions for tax positions of prior years 122 1,576 3,620 Reductions for tax provisions of prior years — (278) (2,423) Lapse of statute of limitation — — (184) Additions recorded through goodwill as part of business combination — — 1,334 Settlements — — (3,080) Currency translation (42) — — Balance as of the end of period $ 28,842 $ 23,738 $ 19,933 The amount of unrecognized tax benefits included on the Consolidated Balance Sheets as of December 31, 2021, 2020, and 2019 are $28.8 million, $23.7 million, and $19.9 million, respectively. The total amount of unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate is $27.9 million at December 31, 2021. The total amount of unrecognized tax benefits relating to the Company’s tax positions is subject to change based on future events including, but not limited to, the settlements of ongoing audits and/or the expiration of applicable statutes of limitations. The outcomes and timing of such events are highly uncertain. However, the Company’s reasonable estimate of the range of gross unrecognized tax benefits, excluding interest and penalties, that could potentially be reduced during the next 12 months is $2.6 million. The Company is subject to taxation in the United States, New York, and various other states and foreign jurisdictions. As of December 31, 2021, tax year 2014 and later remain open to examination. The Company is under examination by the IRS for calendar year 2014 through 2016. These examinations may result in proposed adjustments to the Company’s income tax liability or tax attributes with respect to years under examination as well as subsequent periods. The provision for income taxes involves a significant amount of management judgment regarding interpretation of relevant facts and laws in the jurisdictions in which the Company operates. Future changes in applicable laws, projected levels of taxable income and tax planning could change the effective tax rate and tax balances recorded by the Company. In addition, tax authorities periodically review income tax returns filed by the Company and can raise issues regarding its filing positions, timing and amount of income and deductions, and the allocation of income among the jurisdictions in which the Company operates. A significant period of time may elapse between the filing of an income tax return and the ultimate resolution of an issue raised by a revenue authority with respect to that return. Any adjustments as a result of any examination may result in additional taxes or penalties against the Company. If the ultimate result of these audits differ from original or adjusted estimates, they could have a material impact on the Company’s tax provision.

Net Income Per Share

Net Income Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Share	Note 4—Net Income Per Share The following table presents the method used when calculating the impact of the Company’s Notes on earnings per share for the periods presented: Year Ended 2021 2020 2019 2021 Notes If-Converted N/A N/A 2020 Notes If-Converted Treasury Stock N/A 2019 Notes If-Converted If-Converted Treasury Stock 2018 Notes If-Converted If-Converted If-Converted The Notes were dilutive for the year ended December 31, 2021. The following table presents the calculation of basic and diluted net income per share for periods presented (in thousands, except share and per share amounts): Year Ended 2021 2020 2019 Numerator: Net income $ 493,507 $ 349,246 $ 95,894 Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes 4,900 17,880 — Net income attributable to common stockholders—diluted $ 498,407 $ 367,126 $ 95,894 Denominator: Weighted average common shares outstanding—basic 127,224,974 121,251,588 119,665,248 Dilutive effect of assumed conversion of options to purchase common stock 4,149,248 4,492,550 4,516,413 Dilutive effect of assumed conversion of restricted stock units 1,995,336 2,046,981 1,521,719 Dilutive effect of assumed conversion of convertible senior notes 13,313,766 8,623,473 — Diluted effective of assumed conversion of restricted stock from acquisition — — 16,693 Weighted average common shares outstanding—diluted 146,683,324 136,414,592 125,720,073 Net income per share attributable to common stockholders—basic $ 3.88 $ 2.88 $ 0.80 Net income per share attributable to common stockholders—diluted $ 3.40 $ 2.69 $ 0.76 The following potential shares of common stock were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: Year Ended 2021 2020 2019 Stock options 149,683 3,711 317,401 Restricted stock units 584,033 71 706,234 Convertible senior notes — 8,625,771 9,511,993 Total anti-dilutive securities 733,716 8,629,553 10,535,628

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Note 5—Business Combinations The Company accounts for business combinations using the acquisition method of accounting. The purchase price is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. The excess of the purchase price over the estimated fair value of the net assets acquired is recorded as goodwill. The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of acquisition. The fair value of customer relationships is estimated using a multi-period excess earnings valuation method, the fair value of trademarks is estimated using a relief from royalty valuation method, and the fair value of developed technology is estimated using a replacement cost method. Depop Acquisition On July 12, 2021, the Company acquired all of the issued share capital of Depop, an online global peer-to-peer fashion resale marketplace. The Company believes Depop extends its market opportunity in the high frequency apparel sector, specifically in the fast-growing resale space, and deepens the Company’s reach into the Gen Z consumer. The fair value of consideration transferred of $1.493 billion consisted of: (1) cash consideration paid of $1.489 billion, net of cash acquired and (2) non-cash consideration of $4.8 million representing the portion of the replacement equity awards issued in connection with the acquisition that was associated with services rendered through the date of the acquisition. The portion of the replacement equity awards associated with services rendered post-acquisition will be recorded as post-combination expense on a straight-line basis over the remaining vesting period of the awards. Additionally, deferred consideration awards will be issued to certain Depop executives, which will also be recorded as post-combination expense on a straight-line basis over the mandatory service period associated with the deferred consideration. Neither of these awards was included in the fair value of the consideration transferred. See Note 15—Stock-based Compensation for more information on these awards. Goodwill consists largely of assembled workforce, expanded market opportunities, and value creation across the Company’s businesses. The resulting goodwill is not expected to be deductible for tax purposes. The Company finalized the valuation of assets acquired and liabilities assumed for the acquisition of Depop as of December 31, 2021. Depop Purchase Price Allocation The following table summarizes the allocation of the purchase price (at fair value) to the assets acquired and liabilities of Depop assumed as of July 12, 2021 (the date of acquisition) (in thousands): Preliminary Purchase Price Allocation (1) Measurement Period Adjustments (2) Final Purchase Price Allocation as Adjusted Estimated Useful Life (in years) Current assets $ 4,249 $ 39 $ 4,288 Property and equipment other 1,299 — 1,299 2-5 Developed technology 84,661 11,103 95,764 5 Trademark 245,657 4,163 249,820 20 Customer relationships 147,116 1,388 148,504 13 Goodwill 1,131,099 (12,244) 1,118,855 Indefinite Current liabilities (18,878) — (18,878) Non-current liabilities (3) (28,097) 140 (27,957) Deferred tax liability, net (74,283) (4,589) (78,872) Total purchase price $ 1,492,823 $ — $ 1,492,823 (1) As previously reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. This was the quarter in which the business combination was closed. (2) The Company recorded measurement period adjustments in the fourth quarter of fiscal 2021 as a result of the finalization of the third-party valuation report in the period. (3) Non-current liabilities are primarily related to non-income tax related contingency reserves. Elo7 Acquisition On July 2, 2021, the Company acquired all the outstanding shares of Elo7 (including Elo7, Ltd. and related subsidiaries entities), by means of a merger, an e-commerce marketplace in Brazil focused on unique, handmade items. The Company sees significant potential in Brazil's e-commerce sector, which is still in early stages of development and fueled by one of the largest economies in the world. The Company believes having a well-known local brand will help Etsy to better capitalize on this opportunity. The fair value of consideration transferred of $212.1 million consisted of: (1) cash consideration paid of $211.3 million, net of cash acquired, and (2) non-cash consideration of $0.8 million representing the portion of the replacement equity awards issued in connection with the acquisition that was associated with services rendered through the date of the acquisition. The portion of the replacement equity awards associated with services rendered post-acquisition will be recorded as post-combination expense on a straight-line basis over the remaining vesting period of the awards, and were therefore not included in the fair value of the consideration transferred. See Note 15—Stock-based Compensation for more information on these awards. Goodwill consists largely of assembled workforce, expanded market opportunities, and value creation across the Company’s businesses. The resulting goodwill is not expected to be deductible for tax purposes. The Company finalized the valuation of assets acquired and liabilities assumed for the acquisition of Elo7 as of December 31, 2021. Elo7 Purchase Price Allocation The following table summarizes the allocation of the purchase price (at fair value) to the assets acquired and liabilities assumed of Elo7 as of July 2, 2021 (the date of acquisition) (in thousands): Preliminary Purchase Price Allocation (1) Measurement Period Adjustments Final Purchase Price Allocation as Adjusted Estimated Useful Life (in years) Current assets $ 2,721 $ — $ 2,721 Developed technology 12,084 — 12,084 5 Trademark 22,187 — 22,187 15 Customer relationships 44,374 — 44,374 15 Goodwill 159,009 (1,822) 157,187 Indefinite Non-current assets 590 1,822 2,412 Current liabilities (3,406) — (3,406) Non-current liabilities (2,691) — (2,691) Deferred tax liability, net (22,727) — (22,727) Total purchase price $ 212,141 $ — $ 212,141 (1) As previously reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. This was the quarter in which the business combination was closed. Revenue and Earnings Revenue and net loss were $36.7 million and $59.1 million, respectively, for Depop and Elo7, in the aggregate, from their respective dates of acquisition through December 31, 2021. Acquisition-related expenses are expensed as incurred. They were recorded in general and administrative expenses and were $36.7 million for the year ended December 31, 2021. They primarily related to advisory, legal, valuation and other professional fees. Reverb Acquisition On August 15, 2019, the Company acquired all of the outstanding capital stock of Reverb, a leading online marketplace dedicated to buying and selling new, used, and vintage musical instruments. The acquisition enables the Company to expand into a new vertical, with a company that has a similar strategy and business model. The total cash consideration paid was $270.4 million, net of cash acquired. Goodwill consists largely of synergies and acquisition of workforce. The resulting goodwill is not expected to be deductible for tax purposes. The Company finalized the valuation of assets acquired and liabilities assumed for the acquisition of Reverb as of December 31, 2019. Reverb Purchase Price Allocation The following table summarizes the allocation of the purchase price (at fair value) to the assets acquired and liabilities assumed of Reverb as of August 15, 2019 (the date of acquisition) (in thousands): Final Purchase Price Allocation as Adjusted Estimated Useful Life (in years) Short-term investments $ 1,028 Other current assets (1) 2,902 Funds receivable and seller accounts 5,578 Property and equipment other 1,543 2 - 5 Developed technology 30,300 3 Trademark 79,400 15 Customer relationships 93,500 15 Goodwill 101,703 Indefinite Other assets (1) 6,743 Other net working capital (208) Funds payable and amounts due to sellers (5,578) Other current liabilities (1) (3,684) Other liabilities (1) (7,333) Deferred tax liability, net (1) (35,485) Total purchase price $ 270,409 (1) Other current liabilities and other liabilities are primarily related to non-income tax related contingency reserves, which are wholly offset by an indemnification asset of $5.5 million and a deferred tax asset. Revenue and net loss of Reverb from August 15, 2019 (the date of acquisition) through December 31, 2019 were $19.1 million and $9.9 million, respectively. Acquisition-related expenses are expensed as incurred and were recorded in general and administrative expenses in 2020 and 2019. They were $1.8 million for the year ended December 31, 2020, and they primarily related to non-recurring employee-related costs associated with the acquisition. Acquisition-related expenses were $3.9 million for the year ended December 31, 2019, and they primarily related to advisory, legal, valuation and other professional fees. Unaudited Supplemental Pro Forma Information The following unaudited pro forma summary presents consolidated information of the Company, including Depop and Elo7, as if the business combinations had occurred on January 1, 2020, and Reverb, as if the business combination had occurred on January 1, 2018 (in thousands): Year Ended December 31, 2021 2020 2019 Revenue $ 2,373,592 $ 1,801,690 $ 847,154 Net income 492,732 319,669 88,595

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6—Goodwill and Intangible Assets The following table summarizes the changes in the carrying amount of goodwill for the periods indicated (in thousands): Year Ended 2021 2020 Balance as of the beginning of the period $ 140,810 $ 138,731 Business combinations 1,276,042 — Foreign currency translation adjustments (45,788) 2,079 Balance as of the end of the period $ 1,371,064 $ 140,810 As of the annual impairment testing date in 2021, the Company completed a qualitative analysis for both the Etsy and the Reverb reporting units, and completed a quantitative analysis for both the Depop and Elo7 reporting units. The quantitative analysis assumed that the purchase consideration for the Depop and Elo7 acquisitions approximated fair value of each of the reporting units given the proximity to the respective acquisition dates. The Company did not recognize any goodwill impairments during the years ended December 31, 2021, 2020, and 2019. At December 31, 2021 and 2020, the gross book value and accumulated amortization of intangible assets were as follows (in thousands): As of December 31, 2021 Gross book Accumulated Net book Weighted-Average Trademark $ 342,753 $ (18,817) $ 323,936 17.8 Customer relationships 278,311 (21,243) 257,068 12.9 Referral agreement 36,109 (12,677) 23,432 6.5 Patent licenses 3,149 (415) 2,734 5.6 Intangible assets $ 660,322 $ (53,152) $ 607,170 15.2 As of December 31, 2020 Gross book Accumulated Net book Weighted-Average Trademark $ 79,400 $ (7,278) $ 72,122 13.6 Customer relationships 93,500 (8,571) 84,929 13.6 Referral agreement 39,042 (9,784) 29,258 7.5 Patent licenses 1,212 (72) 1,140 8.3 Intangible assets $ 213,154 $ (25,705) $ 187,449 12.6 As part of the acquisitions of Depop, Elo7, and Reverb, the Company recorded acquired intangible assets for customer relationships and trademark. See “Note 5—Business Combinations” for additional information on the acquisitions. Amortization expense of intangible assets for the years ended December 31, 2021, 2020, and 2019 was $28.4 million, $15.2 million, and $9.6 million, respectively. The Company did not recognize any intangible asset impairment losses in the years ended December 31, 2021, 2020, and 2019. Based on amounts recorded at December 31, 2021, the Company estimates future amortization expense of intangible assets as follows (in thousands): 2022 $ 43,006 2023 43,006 2024 43,006 2025 43,006 2026 42,684 Thereafter 392,462 Total amortization expense $ 607,170

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment and Geographic Information	Note 7—Segment and Geographic Information The Company has determined it has four operating segments, Etsy, Reverb, Depop, and Elo7, which qualify for aggregation as one reportable segment for purposes of allocating resources and evaluating financial performance. Revenue by country is based on the billing address of the seller. The following table summarizes revenue by geographic area (in thousands): Year Ended 2021 2020 2019 United States $ 1,393,637 $ 1,150,725 $ 550,257 United Kingdom 329,203 195,827 72,471 Other non-U.S. 606,274 379,073 195,651 Revenue $ 2,329,114 $ 1,725,625 $ 818,379 With the exception of the United Kingdom, no individual non-U.S. country’s revenue exceeded 10% of total revenue. All significant tangible long-lived assets are located in the United States.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8—Fair Value Measurements The Company has characterized its investments in marketable securities, based on the priority of the inputs used to value the investments, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1), and lowest priority to unobservable inputs (Level 3). If the inputs used to measure the investments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the investment. Investments recorded in the accompanying Consolidated Balance Sheets are categorized based on the inputs to valuation techniques as follows: Level 1 These are investments where values are based on unadjusted quoted prices for identical assets in an active market that the Company has the ability to access. Level 2 These are investments where values are based on quoted market prices in markets that are not active or model derived valuations in which all significant inputs are observable in active markets. Level 3 These are financial instruments where values are derived from techniques in which one or more significant inputs are unobservable. The Company did not have any Level 3 instruments as of December 31, 2021 and December 31, 2020. Short- and long-term investments and certain cash equivalents consist of investments in debt securities that are available-for-sale. The following table sets forth the cost, gross unrealized losses, gross unrealized gains, and fair values of the Company’s investments as of the dates indicated (in thousands): Cost Gross Gross Fair Value Cash and Cash Equivalents Short-term Investments Long-term Investments December 31, 2021 Cash $ 214,771 $ — $ — $ 214,771 $ 214,771 $ — $ — Level 1 Money market funds 556,427 — — 556,427 556,427 — — U.S. Government and agency securities 60,311 (55) 11 60,267 — 52,632 7,635 616,738 (55) 11 616,694 556,427 52,632 7,635 Level 2 Certificate of deposit 20,709 (7) 1 20,703 — 20,703 — Commercial paper 25,235 (14) 1 25,222 8,998 16,224 — Corporate bonds 192,727 (481) 10 192,256 — 114,857 77,399 238,671 (502) 12 238,181 8,998 151,784 77,399 $ 1,070,180 $ (557) $ 23 $ 1,069,646 $ 780,196 $ 204,416 $ 85,034 December 31, 2020 Cash $ 346,136 $ — $ — $ 346,136 $ 346,136 $ — $ — Level 1 Money market funds (1) 920,643 — — 920,643 881,465 — — U.S. Government and agency securities 410,371 (3) 358 410,726 — 376,089 34,637 1,331,014 (3) 358 1,331,369 881,465 376,089 34,637 Level 2 Certificate of deposit 12,746 — 5 12,751 6,000 6,751 — Commercial paper 14,494 — 4 14,498 10,498 4,000 — Corporate bonds 42,632 (7) 111 42,736 — 38,279 4,457 69,872 (7) 120 69,985 16,498 49,030 4,457 $ 1,747,022 $ (10) $ 478 $ 1,747,490 $ 1,244,099 $ 425,119 $ 39,094 (1) $39.2 million of money market funds were classified as funds receivable and seller accounts as of December 31, 2020. The Company evaluates fair value for each individual security in the investment portfolio. All investments in an unrealized loss position have been in an unrealized loss position for less than 12 months as of December 31, 2021. The Company typically invests in short- and long-term instruments, including fixed-income funds and U.S. Government and agency securities aligned with the Company’s investment strategy. The maturities of the Company’s non-current marketable debt securities generally range from greater than 12 and up to 37 months. Disclosure of Fair Values The Company’s financial instruments that are not remeasured at fair value in the Consolidated Balance Sheets include the Notes. See “Note 12—Debt” for additional information. The Company estimates the fair value of the Notes through inputs that are observable in the market classified as Level 2 as described above. The following table presents the carrying value and estimated fair value of the Notes as of the dates indicated (in thousands): As of December 31, 2021 As of December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value 2021 Notes $ 987,729 $ 1,165,519 $ — $ — 2020 Notes (1) 643,237 862,774 511,733 $ 536,126 2019 Notes (1) 644,390 1,644,869 514,035 566,399 2018 Notes (1) 62 375 39,166 42,157 $ 2,275,418 $ 3,673,537 $ 1,064,934 $ 1,144,682 (1) Upon adoption of ASU 2020-06 as of January 1, 2021, the carrying value of the Notes increased due to the derecognition of the unamortized debt discount, as described in “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Recently Adopted Accounting Pronouncements.” The increase in the carrying value of the 2018 Notes was offset by the conversion of $43.9 million of the 2018 Notes in the year ended December 31, 2021. See “Note 12—Debt” for additional information. The carrying value of other financial instruments, including accounts receivable, funds receivable and seller accounts, accounts payable, and funds payable and amounts due to sellers approximate fair value due to the immediate or short-term maturity associated with these instruments.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 9—Property and Equipment Property and equipment consisted of the following as of the dates indicated (in thousands): As of December 31, Estimated useful lives 2021 2020 Computer equipment 3 years $ 8,037 $ 32,686 Furniture and equipment 2 - 4 years 7,170 7,468 Leasehold improvements Shorter of life of asset or lease term 48,145 50,765 Construction in progress Not applicable 10,835 633 Building Lease term 133,063 66,650 Website development and internal-use software 3 - 5 years 224,855 113,064 432,105 271,266 Less: Accumulated depreciation and amortization 157,043 158,771 $ 275,062 $ 112,495 Depreciation and amortization expense on property and equipment was $45.8 million, $43.0 million, and $38.4 million, which included amortization expense relating to capitalized website development and internal-use software of $30.0 million, $22.6 million, and $18.7 million, for the years ended December 31, 2021, 2020, and 2019, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Note 10—Leases For the years ended December 31, 2021, 2020, and 2019, the elements of lease expense were as follows (in thousands): Year Ended 2021 2020 2019 Operating lease cost $ 6,320 $ 5,847 $ 5,405 Finance lease cost: Amortization of right-of-use assets 9,139 10,190 13,124 Interest on lease liabilities 3,044 2,576 3,205 Total finance lease cost 12,183 12,766 16,329 Other lease cost, net (1) 1,193 1,322 1,149 Total lease cost $ 19,696 $ 19,935 $ 22,883 (1) Other lease cost, net includes short-term sublease income, short-term lease costs, and variable lease costs. The following table presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheets (in thousands): As of December 31, 2021 (1) 2020 Operating leases: Other assets $ 45,951 $ 19,563 Other current liabilities $ 4,018 $ 4,516 Other liabilities 43,746 17,202 Total operating lease liabilities $ 47,764 $ 21,718 Finance leases: Property and equipment, net $ 109,131 $ 50,261 Finance lease obligations—current $ 2,418 $ 8,537 Finance lease obligations—net of current portion 110,283 44,979 Total finance lease liabilities $ 112,701 $ 53,516 (1) In October 2021, the Company entered into a First Amendment to Lease (the "First Amendment") related to the Company's corporate headquarters in Brooklyn, New York, a portion of which is accounted for as a finance lease and a portion as an operating lease. The First Amendment extended the expiration of the term of the current lease from July 31, 2026 to July 31, 2039 and resulted in increases to the Company’s ROU assets, property and equipment, net, and the lease liabilities related to the Company's operating and finance leases. The following table summarizes the weighted average remaining lease term and weighted average discount rate as of December 31, 2021 and 2020: As of December 31, 2021 2020 Weighted average remaining lease term: Operating leases 14.67 years 4.85 years Finance leases 17.41 years 5.47 years Weighted average discount rate: Operating leases 4.46 % 4.26 % Finance leases 4.72 % 4.26 % Supplemental cash flow information related to leases was as follows (in thousands): Year Ended 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases $ (6,442) $ (5,519) $ (4,889) Operating cash flows used in finance leases (3,025) (2,551) (3,181) Finance cash flows used in finance leases (8,864) (9,211) (10,833) Future minimum lease payments under non-cancelable leases as of December 31, 2021 were as follows (in thousands): Operating Leases Finance Leases 2022 $ 5,723 $ 6,917 2023 6,792 9,815 2024 5,806 10,897 2025 6,173 10,759 2026 1,297 100 Thereafter 41,837 135,879 Total future minimum lease payments (1) 67,628 174,367 Less: Imputed interest 19,864 61,666 Total $ 47,764 $ 112,701 (1) The First Amendment includes a tenant allowance, a portion of which becomes available beginning in April 2022, rent concessions that become available beginning in 2026, and escalating commitments each contract year between 2028 and 2038, which are reflected in the future minimum lease payments.
Leases	Note 10—Leases For the years ended December 31, 2021, 2020, and 2019, the elements of lease expense were as follows (in thousands): Year Ended 2021 2020 2019 Operating lease cost $ 6,320 $ 5,847 $ 5,405 Finance lease cost: Amortization of right-of-use assets 9,139 10,190 13,124 Interest on lease liabilities 3,044 2,576 3,205 Total finance lease cost 12,183 12,766 16,329 Other lease cost, net (1) 1,193 1,322 1,149 Total lease cost $ 19,696 $ 19,935 $ 22,883 (1) Other lease cost, net includes short-term sublease income, short-term lease costs, and variable lease costs. The following table presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheets (in thousands): As of December 31, 2021 (1) 2020 Operating leases: Other assets $ 45,951 $ 19,563 Other current liabilities $ 4,018 $ 4,516 Other liabilities 43,746 17,202 Total operating lease liabilities $ 47,764 $ 21,718 Finance leases: Property and equipment, net $ 109,131 $ 50,261 Finance lease obligations—current $ 2,418 $ 8,537 Finance lease obligations—net of current portion 110,283 44,979 Total finance lease liabilities $ 112,701 $ 53,516 (1) In October 2021, the Company entered into a First Amendment to Lease (the "First Amendment") related to the Company's corporate headquarters in Brooklyn, New York, a portion of which is accounted for as a finance lease and a portion as an operating lease. The First Amendment extended the expiration of the term of the current lease from July 31, 2026 to July 31, 2039 and resulted in increases to the Company’s ROU assets, property and equipment, net, and the lease liabilities related to the Company's operating and finance leases. The following table summarizes the weighted average remaining lease term and weighted average discount rate as of December 31, 2021 and 2020: As of December 31, 2021 2020 Weighted average remaining lease term: Operating leases 14.67 years 4.85 years Finance leases 17.41 years 5.47 years Weighted average discount rate: Operating leases 4.46 % 4.26 % Finance leases 4.72 % 4.26 % Supplemental cash flow information related to leases was as follows (in thousands): Year Ended 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases $ (6,442) $ (5,519) $ (4,889) Operating cash flows used in finance leases (3,025) (2,551) (3,181) Finance cash flows used in finance leases (8,864) (9,211) (10,833) Future minimum lease payments under non-cancelable leases as of December 31, 2021 were as follows (in thousands): Operating Leases Finance Leases 2022 $ 5,723 $ 6,917 2023 6,792 9,815 2024 5,806 10,897 2025 6,173 10,759 2026 1,297 100 Thereafter 41,837 135,879 Total future minimum lease payments (1) 67,628 174,367 Less: Imputed interest 19,864 61,666 Total $ 47,764 $ 112,701 (1) The First Amendment includes a tenant allowance, a portion of which becomes available beginning in April 2022, rent concessions that become available beginning in 2026, and escalating commitments each contract year between 2028 and 2038, which are reflected in the future minimum lease payments.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued Expenses	Note 11—Accrued Expenses Accrued expenses consisted of the following as of the dates indicated (in thousands): As of December 31, 2021 2020 Pass-through marketplace tax collection obligation $ 136,360 $ 109,662 Vendor accruals 115,593 73,437 Employee compensation-related liabilities 66,477 43,879 Taxes payable 9,688 5,374 Total accrued expenses $ 328,118 $ 232,352

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Note 12—Debt 2021 Convertible Debt In June 2021, the Company issued $1.0 billion aggregate principal amount of the 2021 Notes in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The net proceeds from the sale of the 2021 Notes were approximately $986.7 million after deducting the initial purchasers’ discount and offering expenses and before the 2021 Capped Call Transactions, as described below, and the repurchase of stock, as described in “Note 14—Stockholders’ Equity.” The 2021 Notes are convertible into shares of the Company’s common stock based upon an initial conversion rate of 4.0518 shares of the Company’s common stock per $1,000 principal amount of 2021 Notes (equivalent to an initial conversion price of approximately $246.80 per share). The conversion rate will be subject to adjustment upon the occurrence of certain specified events, including certain distributions and dividends to all or substantially all of the holders of the Company’s common stock. The 2021 Notes will mature on June 15, 2028, unless earlier converted, redeemed, or repurchased. Prior to the close of business on the business day immediately preceding February 15, 2028, holders may convert all or a portion of their 2021 Notes only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on September 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the 5 business day period after any 10 consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of 2021 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; (3) if the Company calls the 2021 Notes for redemption at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date, but only with respect to the 2021 Notes called (or deemed called) for redemption; or (4) upon the occurrence of specified corporate events. On and after February 15, 2028 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2021 Notes at any time, regardless of the foregoing circumstances. The Company may redeem all or any portion of the 2021 Notes, at the Company’s option, subject to partial redemption limitations, on or after June 20, 2025, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2021 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If a fundamental change occurs prior to the maturity date, holders may require the Company to repurchase all or a portion of their 2021 Notes for cash at a price equal to 100% of the principal amount of the 2021 Notes to be repurchased. Holders of 2021 Notes who convert their 2021 Notes in connection with a notice of a redemption or a make-whole fundamental change may be entitled to a premium in the form of an increase in the conversion rate of the 2021 Notes. As of December 31, 2021, none of the conditions permitting the holders of the 2021 Notes to early convert have been met. During any calendar quarter preceding February 15, 2028 in which the closing price of the Company’s common stock exceeds 130% of the applicable conversion price of the 2021 Notes on at least 20 of the last 30 consecutive trading days of the quarter, holders may, in the immediate quarter following, convert all or a portion of their 2021 Notes. Based on the daily closing prices of the Company’s stock during the quarter ended December 31, 2021, holders of the 2021 Notes are not eligible to convert their 2021 Notes during the first quarter of 2022. Based on the terms of the 2021 Notes, when a conversion notice is received, the Company has the option to pay or deliver cash, shares of the Company’s common stock, or a combination thereof. Accordingly, the Company cannot be required to settle the 2021 Notes in cash and, therefore, the 2021 Notes are classified as long-term debt as of December 31, 2021. 2021 Capped Call Transactions The Company used $85.0 million of the net proceeds from the 2021 Notes to enter into privately negotiated capped call instruments (“2021 Capped Call Transactions”) with certain financial institutions. The 2021 Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount of the 2021 Notes upon conversion of the 2021 Notes in the event that the market price per share of the Company’s common stock is greater than the strike price of the 2021 Capped Call Transactions with such reduction and/or offset subject to a cap. The 2021 Capped Call Transactions have an initial cap price of $340.42 per share of the Company’s common stock, which represents a premium of 100% over the last reported sale price of the Company’s common stock on June 8, 2021, and is subject to certain adjustments under the terms of the 2021 Capped Call Transactions. Collectively, the 2021 Capped Call Transactions cover, initially, the number of shares of the Company’s common stock underlying the 2021 Notes, subject to anti-dilution adjustments substantially similar to those applicable to the 2021 Notes. The 2021 Capped Call Transactions do not meet the criteria for separate accounting as a derivative as they are indexed to the Company’s stock. The premiums paid for the 2021 Capped Call Transactions have been included as a net reduction to additional paid-in capital within stockholders’ equity. 2020 Convertible Debt In August 2020, the Company issued $650.0 million aggregate principal amount of the 2020 Notes in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The net proceeds from the sale of the 2020 Notes were approximately $639.5 million after deducting the offering expenses and before the purchase of the 2020 Capped Call Transactions and the partial repurchase of the 2018 Notes, each as described below. The 2020 Notes are convertible into shares of the Company’s common stock based upon an initial conversion rate of 5.0007 shares of the Company’s common stock per $1,000 principal amount of 2020 Notes (equivalent to an initial conversion price of approximately $199.97 per share). The conversion rate will be subject to adjustment upon the occurrence of certain specified events, including certain distributions and dividends to all or substantially all of the holders of the Company’s common stock. The 2020 Notes will mature on September 1, 2027, unless earlier converted or repurchased. Prior to the close of business on the business day immediately preceding May 1, 2027, holders may convert all or a portion of their 2020 Notes only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the 5 business day period after any 10 consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of 2020 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; and (3) upon the occurrence of specified corporate events. On and after May 1, 2027 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2020 Notes at any time, regardless of the foregoing circumstances. If a fundamental change occurs prior to the maturity date, holders may require the Company to repurchase all or a portion of their 2020 Notes for cash at a price equal to 100% of the principal amount of the 2020 Notes to be repurchased. Holders of 2020 Notes who convert their 2020 Notes in connection with a notice of a redemption or a make-whole fundamental change may be entitled to a premium in the form of an increase in the conversion rate of the 2020 Notes. As of December 31, 2021, none of the conditions permitting the holders of the 2020 Notes to early convert have been met. During any calendar quarter preceding May 1, 2027 in which the closing price of the Company’s common stock exceeds 130% of the applicable conversion price of the 2020 Notes on at least 20 of the last 30 consecutive trading days of the quarter, holders may, in the immediate quarter following, convert all or a portion of their 2020 Notes. Based on the daily closing prices of the Company’s stock during the quarter ended December 31, 2021, holders of the 2020 Notes are not eligible to convert their 2020 Notes during the first quarter of 2022. Based on the terms of the 2020 Notes, when a conversion notice is received, the Company has the option to pay or deliver cash, shares of the Company’s common stock, or a combination thereof. Accordingly, the Company cannot be required to settle the 2020 Notes in cash and, therefore, the 2020 Notes are classified as long-term debt as of December 31, 2021. 2020 Capped Call Transactions The Company used $74.7 million of the net proceeds from the 2020 Notes to enter into privately negotiated capped call instruments (“2020 Capped Call Transactions”) with certain financial institutions. The 2020 Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount of the 2020 Notes upon conversion of the 2020 Notes in the event that the market price per share of the Company’s common stock is greater than the strike price of the 2020 Capped Call Transactions with such reduction and/or offset subject to a cap. The 2020 Capped Call Transactions have an initial cap price of $327.83 per share of the Company’s common stock, which represents a premium of 150% over the last reported sale price of the Company’s common stock on August 19, 2020, and is subject to certain adjustments under the terms of the 2020 Capped Call Transactions. Collectively, the 2020 Capped Call Transactions cover, initially, the number of shares of the Company’s common stock underlying the 2020 Notes, subject to anti-dilution adjustments substantially similar to those applicable to the 2020 Notes. The 2020 Capped Call Transactions do not meet the criteria for separate accounting as a derivative as they are indexed to the Company’s stock. The premiums paid for the 2020 Capped Call Transactions have been included as a net reduction to additional paid-in capital within stockholders’ equity. 2019 Convertible Debt In September 2019, the Company issued $650.0 million aggregate principal amount of the 2019 Notes in a private placement to qualified institutional buyers pursuant to the Securities Act. The net proceeds from the sale of the 2019 Notes were $639.5 million after deducting the initial purchasers’ discount and offering expenses. The 2019 Notes are convertible based upon an initial conversion rate of 11.4040 shares of the Company’s common stock per $1,000 principal amount of 2019 Notes (equivalent to an initial conversion price of approximately $87.69 per share). The conversion rate will be subject to adjustment upon the occurrence of certain specified events, including certain distributions and dividends to all or substantially all of the holders of the Company’s common stock. The 2019 Notes will mature on October 1, 2026, unless earlier converted or repurchased. Prior to the close of business on the business day immediately preceding June 1, 2026, holders may convert all or a portion of their 2019 Notes only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2019 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the 5 business day period after any 10 consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of 2019 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; and (3) upon the occurrence of specified corporate events. On and after June 1, 2026 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their 2019 Notes at any time, regardless of the foregoing circumstances. If a fundamental change occurs prior to the maturity date, holders may require the Company to repurchase all or a portion of their 2019 Notes for cash at a price equal to 100% of the principal amount of the 2019 Notes to be repurchased. Holders of 2019 Notes who convert their 2019 Notes in connection with a notice of a redemption or a make-whole fundamental change may be entitled to a premium in the form of an increase in the conversion rate of the 2019 Notes. During any calendar quarter preceding June 1, 2026 in which the closing price of the Company’s common stock exceeds 130% of the applicable conversion price of the 2019 Notes on at least 20 of the last 30 consecutive trading days of the quarter, holders may, in the immediate quarter following, convert all or a portion of their 2019 Notes. Based on the daily closing prices of the Company’s stock during the quarter ended December 31, 2021, holders of the 2019 Notes are eligible to convert their 2019 Notes during the first quarter of 2022. Based on the terms of the 2019 Notes, when a conversion notice is received, the Company has the option to pay or deliver cash, shares of the Company’s common stock, or a combination thereof. Accordingly, the Company cannot be required to settle the 2019 Notes in cash and, therefore, the 2019 Notes are classified as long-term debt as of December 31, 2021. 2019 Capped Call Transactions The Company used $76.2 million of the net proceeds from the 2019 Notes offering to enter into separate capped call instruments (“2019 Capped Call Transactions”) with the initial purchasers and/or their respective affiliates. The 2019 Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount of the 2019 Notes upon conversion of the 2019 Notes in the event that the market price per share of the Company’s common stock is greater than the strike price of the 2019 Capped Call Transactions with such reduction and/or offset subject to a cap. The 2019 Capped Call Transactions have an initial cap price of $148.63 per share of the Company’s common stock, which represents a premium of 150% over the last reported sale price of the Company’s common stock on September 18, 2019, and is subject to certain adjustments under the terms of the 2019 Capped Call Transactions. Collectively, the 2019 Capped Call Transactions cover, initially, the number of shares of the Company’s common stock underlying the 2019 Notes, subject to anti-dilution adjustments substantially similar to those applicable to the 2019 Notes. The 2019 Capped Call Transactions do not meet the criteria for separate accounting as a derivative as they are indexed to the Company’s stock. The premiums paid for the 2019 Capped Call Transactions have been included as a net reduction to additional paid-in capital within stockholders’ equity. 2018 Convertible Debt In March 2018, the Company issued $345.0 million aggregate principal amount of the 2018 Notes, in a private placement to qualified institutional buyers pursuant to the Securities Act. The net proceeds from the sale of the 2018 Notes were $335.0 million after deducting the initial purchasers’ discount and offering expenses. The 2018 Notes are convertible based upon an initial conversion rate of 27.5691 shares of the Company’s common stock per $1,000 principal amount of 2018 Notes (equivalent to an initial conversion price of approximately $36.27 per share). The conversion rate will be subject to adjustment upon the occurrence of certain specified events, including certain distributions and dividends to all or substantially all of the holders of the Company’s common stock. The 2018 Notes will mature on March 1, 2023, unless earlier converted or repurchased. Prior to the close of business on the business day immediately preceding November 1, 2022, holders may convert all or a portion of their 2018 Notes only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2018 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the 5 business day period after any 10 consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of 2018 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; and (3) upon the occurrence of specified corporate events. On and after November 1, 2022 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Notes at any time, regardless of the foregoing circumstances. If a fundamental change occurs prior to the maturity date, holders may require the Company to repurchase all or a portion of their 2018 Notes for cash at a price equal to 100% of the principal amount of the 2018 Notes to be repurchased. Holders of 2018 Notes who convert their 2018 Notes in connection with a notice of a redemption or a make-whole fundamental change may be entitled to a premium in the form of an increase in the conversion rate of the 2018 Notes. During the third quarter of 2020, the Company paid $137.2 million in cash and issued approximately 7.3 million shares of Etsy’s common stock to repurchase $301.1 million aggregate principal amount of its outstanding 2018 Notes through privately negotiated transactions. Concurrently, the Company repurchased 1.3 million shares of Etsy’s common stock for $166.2 million, in order to effectively complete the partial repurchase of 2018 Notes principal value in cash, and the conversion premium in shares. The equity component associated with the conversion premium on the 2018 Notes was a net increase to additional paid-in capital of $143.2 million. This transaction was accounted for as an extinguishment of debt and recorded in accordance with the applicable accounting standard in the year ended December 31, 2020. As a result, the Company recognized a non-cash loss on extinguishment of $16.9 million. This loss was calculated by comparing the carrying value of the debt component with the fair value of a similar liability that does not have an associated convertible feature immediately prior to extinguishment as well as writing off any remaining unamortized deferred debt issuance costs at the time of extinguishment. To estimate the fair value of a similar liability that does not have an associated convertible feature, the Company discounted the contractual cash flows of the Notes at an estimated interest rate for a comparable nonconvertible note. Contemporaneously with the partial repurchase of the 2018 Notes in the third quarter of 2020, the Company also agreed with its counterparties to the 2018 Capped Call Transactions that they would remain outstanding with a maturity of March 2023. This was mutually agreed to between Etsy and its counterparties and there was no exchange of any consideration for such agreement. During the year ended December 31, 2021, the Company paid $43.9 million in cash and issued approximately 1.0 million shares of Etsy’s common stock to settle conversion notices of $43.9 million aggregate principal amount of the outstanding 2018 Notes. The debt conversion transactions were accounted for in accordance with ASU 2020-06, which was adopted in the first quarter of 2021. See “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Recently Adopted Accounting Pronouncements” for additional information. During any calendar quarter preceding November 1, 2022 in which the closing price of the Company’s common stock exceeds 130% of the applicable conversion price of the 2018 Notes on at least 20 of the last 30 consecutive trading days of the quarter, holders may in the immediate quarter following convert all or a portion of their 2018 Notes. Based on the daily closing prices of the Company’s stock during the quarter ended December 31, 2021, holders of the remaining 2018 Notes are eligible to convert their 2018 Notes during the first quarter of 2022. Based on the terms of the 2018 Notes, when a conversion notice is received, the Company has the option to pay or deliver cash, shares of the Company’s common stock, or a combination thereof. Accordingly, the Company cannot be required to settle the remaining 2018 Notes in cash and, therefore, the remaining 2018 Notes outstanding are classified as long-term debt as of December 31, 2021. 2018 Capped Call Transactions The Company used $34.2 million of the net proceeds from the 2018 Notes offering to enter into separate capped call instruments (“2018 Capped Call Transactions”) with the initial purchasers and/or their respective affiliates. The 2018 Capped Call Transactions are expected generally to reduce the potential dilution and/or offset the cash payments the Company is required to make in excess of the principal amount of the 2018 Notes upon conversion of the 2018 Notes in the event that the market price per share of the Company’s common stock is greater than the strike price of the 2018 Capped Call Transactions with such reduction and/or offset subject to a cap. The 2018 Capped Call Transactions have an initial cap price of $52.76 per share of the Company’s common stock, which represents a premium of 100% over the last reported sale price of the Company’s common stock on March 8, 2018, and is subject to certain adjustments under the terms of the 2018 Capped Call Transactions. Collectively, the 2018 Capped Call Transactions cover, initially, the number of shares of the Company’s common stock underlying the 2018 Notes, subject to anti-dilution adjustments substantially similar to those applicable to the 2018 Notes. The Capped Call Transactions do not meet the criteria for separate accounting as a derivative as they are indexed to the Company’s stock. The premiums paid for the 2018 Capped Call Transactions have been included as a net reduction to additional paid-in capital within stockholders’ equity. The following table presents the outstanding principal amount and carrying value of the Notes as of the dates indicated (in thousands): As of December 31, 2021 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ 1,000,000 $ 650,000 $ 649,958 $ 62 $ 2,300,020 Unamortized debt issuance costs 12,271 6,763 5,568 — 24,602 Net carrying value (1) $ 987,729 $ 643,237 $ 644,390 $ 62 $ 2,275,418 As of December 31, 2020 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ — $ 650,000 $ 650,000 $ 43,915 $ 1,343,915 Unamortized debt discount (1) — 130,308 129,224 4,286 263,818 Unamortized debt issuance costs — 7,959 6,741 463 15,163 Net carrying value $ — $ 511,733 $ 514,035 $ 39,166 $ 1,064,934 (1) Upon adoption of ASU 2020-06 as of January 1, 2021, the unamortized debt discount balance was derecognized, as described in “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Recently Adopted Accounting Pronouncements.” The annual effective interest rate for the 2021 Notes, 2020 Notes, and 2019 Notes was approximately 0.4%, 0.3%, and 0.3%, respectively. Interest expense related to each of the Notes for the periods presented below was as follows (in thousands): Year Ended 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Total interest expense (1) $ 2,411 $ 2,006 $ 1,985 $ 44 $ 6,446 Year Ended 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Coupon interest and amortization of debt issuance costs $ — $ 660 $ 1,843 $ 1,070 $ 3,573 Amortization of debt discount — 6,081 19,598 9,917 35,596 Total interest expense $ — $ 6,741 $ 21,441 $ 10,987 $ 39,169 Year Ended 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Coupon interest and amortization of debt issuance costs $ — $ — $ 489 $ 1,484 $ 1,973 Amortization of debt discount — — 5,142 13,747 18,889 Total interest expense $ — $ — $ 5,631 $ 15,231 $ 20,862 (1) Total interest expense for the year ended December 31, 2021 consisted of coupon interest and amortization of debt issuance costs, as there is no amortization of the debt discount in the current year due to the adoption of ASU 2020-06 as of January 1, 2021, as described in “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Recently Adopted Accounting Pronouncements.” In accounting for the issuance of the 2020 Notes, 2019 Notes, and 2018 Notes, the Company separated the liability and equity components. Following the adoption of ASU 2020-06 in the first quarter of 2021, the Company derecognized the unamortized debt discount, which was recorded as a direct deduction from the Notes, and derecognized the equity component of the Notes, resulting in an increase in long-term debt, net. In accounting for the issuance of the 2021 Notes, the Company recorded the 2021 Notes as a liability at face value. Transaction costs attributable to the liabilities were recorded as a direct deduction from the related debt liability in the Consolidated Balance Sheets and are amortized to interest expense over the terms of the respective Notes. The estimated fair value of the liability component of the Notes was determined through inputs that are observable in the market or that could be derived from observable market data, corroborated with quoted market prices of similar instruments, classified as Level 2. See “Note 8—Fair Value Measurements ” for more information regarding the fair value of the Notes. The Notes are general unsecured obligations of the Company. The Notes rank senior in right of payment to all of the Company’s future indebtedness that is expressly subordinated in right of payment to the Notes; rank equal in right of payment with all of the Company’s liabilities that are not so subordinated; are effectively junior to any of the Company’s secured indebtedness; and are structurally junior to all indebtedness and liabilities (including trade payables) of the Company’s subsidiaries. 2019 Credit Agreement On February 25, 2019, the Company entered into a $200.0 million senior secured revolving credit facility pursuant to a Credit Agreement (the “2019 Credit Agreement”) with lenders party thereto from time to time, and Citibank N.A., as administrative Agent. The 2019 Credit Agreement will mature in February 2024. The 2019 Credit Agreement includes a letter of credit sublimit of $30.0 million and a swingline loan sublimit of $10.0 million. Borrowings under the 2019 Credit Agreement (other than swingline loans) bear interest, at the Company’s option, at (i) a base rate equal to the highest of (a) the prime rate, (b) the federal funds rate plus 0.50%, and (c) an adjusted LIBOR rate for a one-month interest period plus 1.00%, in each case plus a margin ranging from 0.25% to 0.875% or (ii) an adjusted LIBOR rate plus a margin ranging from 1.25% to 1.875%. Swingline loans under the 2019 Credit Agreement bear interest at the same base rate (plus the margin applicable to borrowings bearing interest at the base rate). These margins are determined based on the senior secured net leverage ratio (defined as secured funded debt, net of unrestricted cash up to $100 million, to EBITDA) for the preceding four fiscal quarter periods. The 2019 Credit Agreement contains customary provisions for the replacement of the adjusted LIBOR rate with an alternate benchmark rate when the adjusted LIBOR rate is phased out in the lending market. The Company does not anticipate that replacement of the benchmark rate, as provided in the 2019 Credit Agreement, will materially impact its liquidity or financial position. The Company is also obligated to pay other customary fees for a credit facility of this size and type, including an unused commitment fee, ranging from 0.20% to 0.35% depending on the Company’s senior secured net leverage ratio, and fees associated with letters of credit. The 2019 Credit Agreement also permits the Company, in certain circumstances, to request an increase in the facility by an amount of up to $100.0 million at the same maturity, pricing, and other terms and to request an extension of the maturity date for the facility. In connection with the 2019 Credit Agreement, the Company also paid the lenders certain upfront fees. The 2019 Credit Agreement contains customary representations and warranties applicable to the Company and its subsidiaries and customary affirmative and negative covenants applicable to the Company and its restricted subsidiaries. The negative covenants include restrictions on, among other things, indebtedness, liens, certain fundamental changes (including mergers), investments, dispositions, restricted payments (including dividends and stock repurchases), prepayments of junior debt, and transactions with affiliates. These restrictions do not prohibit a subsidiary of the Company from making pro rata payments to the Company or any other person that owns an equity interest in such subsidiary. The 2019 Credit Agreement contains financial covenants, that require the Company and its subsidiaries to maintain (i) a secured net leverage ratio not to exceed 3.00 to 1.00, subject to an increase, at the option of the Company, to 3.50 to 1.00 for a specified period of time in the event of certain material acquisitions, tested as of the last day of each fiscal quarter and (ii) an interest coverage ratio (defined as the ratio of EBITDA to cash interest expense) of not less than 2.50 to 1.00, tested for each fiscal quarter. The 2019 Credit Agreement includes customary events of default, including, but not limited to, nonpayment of principal or interest, breaches of representations and warranties, failure to perform or observe covenants, cross-defaults with certain other indebtedness, final judgments or orders, certain change of control events, and certain bankruptcy-related events or proceedings. Upon the occurrence of an event of default (subject to notice and grace periods), obligations under the 2019 Credit Agreement could be accelerated. Subject to certain exceptions, to the extent the Company has any material domestic subsidiaries, the obligations under the 2019 Credit Agreement would be required to be guaranteed by such material d

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13—Commitments and Contingencies Purchase Obligations The Company has $487.7 million of non-cancelable contractual commitments as of December 31, 2021, primarily related to cloud computing, as well as other support services. These commitments are due within five years. For those agreements with variable terms, the Company does not estimate what the total obligation may be beyond any minimum quantities and/or pricing. The following table represents the Company’s commitments under its purchase obligations as of December 31, 2021 (in thousands): Purchase Obligations Periods ending 2022 $ 79,567 2023 97,178 2024 111,000 2025 130,000 2026 70,000 Thereafter — Total purchase obligations $ 487,745 Non-Income Tax Contingencies The Company had reserves of $38.8 million and $8.0 million at December 31, 2021 and 2020, respectively, for certain non-income tax obligations, representing management’s best estimate of its potential liability. The reserves as of December 31, 2021 and 2020 include $2.8 million and $4.5 million, respectively, due to the acquisition of Reverb, which are wholly offset by an indemnification asset of $2.2 million and $3.4 million and a deferred tax asset of $0.6 million and $1.1 million, respectively. The Company recorded additional non-income tax reserves of $29.5 million, which is partially offset by an indemnification asset of $1.7 million, as part of the acquisitions of Depop and Elo7 it completed in 2021. These amounts were primarily recorded as part of purchase accounting. The Company could also be subject to examination in various jurisdictions related to income tax and non-income tax matters. The resolution of these types of matters, if in excess of the recorded reserve, could have an adverse impact on the Company’s consolidated financial statements. Legal Proceedings From time to time in the normal course of business, various other claims and litigation have been asserted or commenced against the Company. Due to uncertainties inherent in litigation and other claims, the Company can give no assurance that it will prevail in any such matters, which could subject the Company to significant liability for damages. Any claims or litigation could have an adverse effect on the Company’s results of operations, cash flows, or business and financial condition in the period the claims or litigation are resolved. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters will not have a material adverse effect on its business.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Stockholders' Equity	Note 14—Stockholders’ Equity Common Stock At December 31, 2021 and 2020, the authorized capital stock of the Company included 1,400,000,000 shares of common stock. At December 31, 2021 and 2020 there were 127,022,118 and 125,835,931 shares of common stock issued and outstanding, respectively. The common stock has a $0.001 par value. Holders of common stock are entitled to one vote per share. Holders of common stock are not entitled to receive dividends unless declared by the Board of Directors. No dividends have been declared through December 31, 2021. Preferred Stock At December 31, 2021 and 2020 the authorized capital stock of the Company included 25,000,000 shares of preferred stock. As of December 31, 2021, 2020, and 2019, there was no preferred stock outstanding. Stock Repurchases In December 2020, the Board of Directors approved a stock repurchase program that enables the Company to repurchase up to $250 million of its common stock. No stock repurchases were made under this program in 2020. The program does not have a time limit and may be modified, suspended or terminated at any time by the Board of Directors. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, stock price, trading volume and general market conditions, along with Etsy’s working capital requirements, general business conditions and other factors. As of December 31, 2021, the remaining amount available to be repurchased under the approved plan was $127.2 million. In November 2018, the Board of Directors approved a stock repurchase program that enabled the Company to repurchase up to $200 million of its common stock. The program was completed in the fourth quarter of 2020. The following table summarizes the Company’s stock repurchase activity related to the programs noted above: Shares Repurchased Average Price Paid per Share (1) Repurchases of common stock for the year ended December 31, 2021 554,718 $ 221.33 Repurchases of common stock for the year ended December 31, 2020 1,161,947 88.20 Repurchases of common stock for the year ended December 31, 2019 1,008,211 52.06 (1) Average price paid per share excludes broker commissions. Value of shares repurchased includes broker commissions. All repurchases were made using cash resources, and all repurchased shares of common stock have been retired. Under the stock repurchase programs, the Company may purchase shares of its common stock through various means, including open market transactions, privately negotiated transactions, tender offers, or any combination thereof. In addition, open market repurchases of common stock could be made pursuant to trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which may permit common stock to be repurchased at a time that the Company might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. Additionally, in June 2021, the Company repurchased approximately 1.1 million shares of its common stock for approximately $180 million concurrently with the issuance of the 2021 Notes. See “Note 12—Debt” for more information. This repurchase was separate from the stock repurchase program approved by the Board of Directors in December 2020. In August 2020, the Board of Directors approved a stock repurchase of $166.2 million, or 1.3 million shares of the Company’s common stock, concurrently with the repurchase of $301.1 million aggregate principal amount of the outstanding 2018 Notes. See “Note 12—Debt” for additional information. This repurchase was separate from the stock repurchase program approved by the Board of Directors in November 2018. In September 2019, the Company repurchased approximately 2.1 million shares of its common stock for approximately $124.5 million concurrently with the issuance of the 2019 Notes. This repurchase was separate from the stock repurchase program approved by the Board of Directors in November 2018.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Note 15—Stock-based Compensation The Company’s 2015 Equity Incentive Plan (the “2015 Plan”) was adopted by its Board of Directors and approved by stockholders in March 2015. The 2015 Plan provides for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, RSUs, PBRSUs, and performance cash awards to employees and directors. Beginning in 2016, the number of shares available for issuance under the 2015 Plan may be increased annually by an amount equal to the lesser of 7,050,000 shares of common stock, 5% of the outstanding shares of common stock as of the last day of the immediately preceding fiscal year, or such other amount as determined by the Company’s Board of Directors. The Board of Directors approved an increase of 6,351,106, 6,291,797, and 5,917,139, shares available for issuance under the 2015 Plan as of January 3, 2022, January 4, 2021, and January 2, 2020, respectively. Any awards issued under the 2015 Plan that are forfeited by the participant will become available for future grant under the 2015 Plan. At December 31, 2021, 44,040,744 shares were authorized under the 2015 Plan and 29,705,320 shares were available for future grant. In the year ended December 31, 2021, the Company granted nonqualified stock options and RSUs, including Financial PBRSUs and TSR PBRSUs, to eligible participants under its 2015 Plan. The Company recognizes forfeitures as they occur. Options were generally granted for a term of 10 years. For both options and RSUs, vesting is typically over a four-year period and is contingent upon continued employment with the Company on each vesting date. I n general , for newly-hired employees, both options and RSUs vest 25% after the first year of service and ratably each six-month period over a four-year period following the vesting commencement date, which is the first day of the month following the date of grant. I n general, for current employees who receive an additional grant, both options and RSUs vest ratably each six-month period over a four-year period following the vesting commencement date . For Financial PBRSUs, the number of RSUs received will depend on the achievement of financial metrics relative to the approved performance targets. Depending on the actual financial metrics achieved relative to the target financial metrics, throughout the defined performance period of the award, the number of PBRSUs that vest could range from 0% to 200% of the target amount, and are subject to the Compensation Committee’s approval of the level of achievement against the approved performance targets. For the TSR PBRSUs, the number of RSUs received will depend on the Company’s total shareholder return relative to that of the Nasdaq Composite Index over a three-year measurement period. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model. The fair value of RSUs is determined based on the closing price of the Company’s common stock on Nasdaq on the grant date. Additionally, the fair value of the Financial PBRSUs is determined using a probability assessment and the fair value of the TSR PBRSUs with market conditions is determined using a Monte-Carlo simulation model. For PBRSUs, the Company recognizes stock-based compensation expenses on a straight-line basis over the longest of the derived, explicit, or implicit service period. As of interim and annual reporting periods, the Financial PBRSUs stock-based compensation expense is adjusted based on expected achievement of performance targets, while TSR PBRSUs stock-based compensation expense is not adjusted. The requisite service period for stock options and RSUs is generally four years from the date of grant. The fair value of options granted in each year using the Black-Scholes pricing model has been based on the following assumptions: Year Ended 2021 2020 2019 Volatility 43.4% - 57.4% 38.9% - 41.7% 39.1% - 39.5% Risk-free interest rate 0.8% - 1.2% 0.3% - 1.7% 1.6% - 2.5% Expected term (in years) 4.6 - 6.2 5.5 - 6.2 5.5 - 6.2 The following table summarizes the activity for the Company’s options (in thousands, except share and per share amounts): Shares Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2018 6,890,994 $ 12.91 7.94 $ 239,177 Granted 462,563 64.29 Exercised (840,835) 11.64 Forfeited/Canceled (217,803) 30.11 Outstanding at December 31, 2019 6,294,919 16.26 7.24 185,900 Granted 654,296 46.38 Exercised (1,834,773) 13.80 Forfeited/Canceled (14,490) 32.15 Outstanding at December 31, 2020 5,099,952 20.97 6.81 800,453 Granted 198,193 218.93 Exercised (994,456) 22.83 Forfeited/Canceled (29,964) 47.86 Outstanding at December 31, 2021 4,273,725 29.52 5.99 810,321 Total exercisable at December 31, 2021 3,497,104 16.72 5.52 707,278 The following table summarizes the weighted-average grant date fair value of options granted, intrinsic value of options exercised and fair value of awards vested in periods indicated (in thousands, except per share amounts): Year Ended December 31, 2021 2020 2019 Weighted average grant date fair value of options granted $ 95.00 $ 18.18 $ 26.75 Intrinsic value of options exercised 206,709 151,785 42,758 Fair value of awards vested 96,592 60,622 41,997 The total unrecognized compensation expense at December 31, 2021 related to the Company’s options was $24.9 million, which will be recognized over an estimated weighted-average amortization period of 2.65 years. In connection with the acquisitions of Depop and Elo7 in July 2021, outstanding, unvested options held by continuing employees of each acquired entity as of the respective acquisition dates were replaced with Etsy RSU awards with the same aggregate fair value, with a total dollar value of $78.8 million, $5.6 million of which relates to pre-combination service and was included as a component of the purchase price. These RSUs generally follow the original vesting schedule of the replaced options, which provided that they will vest 25% on the first anniversary of their original vesting commencement date with the remaining 75% vesting ratably each month thereafter until the fourth anniversary of their original vesting commencement date. The following table summarizes the activity for the Company’s unvested RSUs, which includes Financial PBRSUs and TSR PBRSUs: Shares Weighted-Average Unvested at December 31, 2018 3,480,368 $ 22.87 Granted 1,464,785 61.92 Vested (1,392,295) 22.67 Forfeited/Canceled (592,445) 31.25 Unvested at December 31, 2019 2,960,413 40.61 Granted 1,712,587 54.19 Vested (1,369,271) 35.36 Forfeited/Canceled (217,742) 43.27 Unvested at December 31, 2020 3,085,987 50.28 Granted (1) 2,136,685 208.84 Vested (1,400,241) 59.80 Forfeited/Canceled (315,710) 108.22 Unvested at December 31, 2021 3,506,721 137.87 (1) Includes RSU awards issued to Depop and Elo7 employees in connection with the acquisitions in the third quarter of 2021. The total unrecognized compensation expense at December 31, 2021 related to the Company’s unvested RSUs, including the Financial PBRSUs and TSR PBRSUs, was $427.3 million, which will be recognized over an estimated weighted-average amortization period of 2.97 years. In connection with the acquisition of Depop, certain Depop executives are eligible to receive deferred consideration of $44.0 million in shares of Etsy common stock over the three years following the acquisition date, subject to certain service-based vesting conditions during the vesting period. These awards will be settled by issuing shares of Etsy common stock on or shortly following the applicable vesting date, with the number of shares to be determined based on the Company’s stock price on, or leading up to, the applicable vesting date. These awards will be recognized as post-combination service stock-based compensation expense over a vesting period equal to the mandatory service period associated with the award, with a corresponding liability included within Other liabilities on the Company’s Consolidated Balance Sheets until the service-based vesting criteria are met and the awards are settled in shares of Etsy common stock. The unrecognized compensation expense at December 31, 2021 related to these awards was $33.9 million, which will be recognized over a remaining term of 2.53 years. These amounts are excluded from the unrecognized compensation expense associated with the Company’s unvested RSUs noted above. Stock-based compensation expense included in the Consolidated Statements of Operations is as follows (in thousands): Year Ended 2021 2020 2019 Cost of revenue $ 13,085 $ 7,731 $ 5,787 Marketing 11,339 5,184 3,774 Product development 58,900 33,030 21,085 General and administrative 56,586 19,169 13,749 Stock-based compensation expense $ 139,910 $ 65,114 $ 44,395

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Consolidation	Basis of ConsolidationThe consolidated financial statements include the accounts of Etsy, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. On July 12, 2021, Etsy acquired all of the issued share capital of Depop Limited (“Depop”) pursuant to a share purchase; on July 2, 2021, Etsy acquired all the outstanding shares of Elo7 Serviços de Informática S.A. (“Elo7”) by means of a merger; and on August 15, 2019, Etsy acquired all of the issued and outstanding capital stock of Reverb Holdings, Inc. (“Reverb”). The financial results of Depop, Elo7, and Reverb have been included in Etsy’s consolidated financial statements from the dates of acquisition.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Company to make estimates and judgments that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates and judgments. The accounting estimates that require management’s most subjective judgments include: stock-based compensation; income taxes; the valuation of acquired intangible assets, developed technology, and goodwill as part of purchase price allocations for business combinations; valuation of goodwill; leases; and fair value of convertible senior notes. As of December 31, 2021, the effects of the ongoing COVID-19 pandemic on the Company’s business, results of operations, and financial condition continue to evolve. As a result, many of the Company’s estimates and judgments require increased judgment and carry a higher degree of variability and volatility. As additional information becomes available, the Company’s estimates may change materially in future periods.
Revenue Recognition	Revenue Recognition The Company’s revenue is diversified; generated from a mix of marketplace activities and other optional services the Company provides to sellers to help them generate more sales and scale their businesses. Revenues are recognized as the Company transfers control of promised goods or services to sellers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company evaluates whether it is appropriate to recognize revenue on a gross or net basis based upon its evaluation of whether the Company obtains control of the specified goods or services by considering if it is primarily responsible for fulfillment of the promise, has inventory risk, and has the latitude in establishing pricing and selecting suppliers, among other factors. Based on its evaluation of these factors, revenue is recorded either gross or net of costs associated with the transaction. The Company’s revenues are recognized on a gross basis, with the primary exception being shipping label revenue, which is recorded on a net basis. Sales and usage-based taxes are excluded from revenues. Marketplace revenue: As members of the Etsy.com marketplace, Etsy sellers receive the benefit of marketplace activities, including listing items for sale, completing sales transactions, and payments processing, which represents a single stand-ready performance obligation. Etsy marketplace sellers pay a fixed listing fee of $0.20 for each item listed on Etsy.com, and the listing fee is recognized ratably over a four-month listing period, unless the item is sold or the seller re-lists it, at which time any remaining listing fee is recognized. Listing fees are nonrefundable. Variable fees include transaction fees and payments processing fees. Etsy marketplace sellers pay a 5% transaction fee for each completed transaction, inclusive of shipping fees charged. In May 2020, the Etsy marketplace started charging sellers for Offsite Ads, whereby sellers pay a transaction fee of 12% or 15% of the value of a sale based on the seller’s volume of sales, if such sale is generated from an advertisement placed by Etsy on third-party internet platforms. The corresponding expense is recorded in marketing. Etsy marketplace sellers pay Etsy Payments processing fees, which typically vary between 3.0% and 4.5% of an item’s total sale price, including shipping, plus a flat fee per order that depends on the country in which a seller’s bank account is located, plus an additional transaction fee for foreign currency payments. The transaction fee, Offsite Ads transaction fee, and Etsy Payments processing fees are recognized when the corresponding transaction is consummated, and are recorded net of refunds. Reverb, Depop, and Elo7 marketplace revenue is comprised of seller transaction fees and payments processing fees, which are recognized when the transaction is consummated, and are recorded net of refunds. Reverb sellers, Elo7 sellers, and Depop sellers pay a 5%, 7%, and 10% transaction fee, respectively, for each completed transaction, inclusive of shipping fees charged. Services revenue: Services revenue is derived from optional services offered to Etsy sellers, which primarily include on-site advertising and shipping labels. Each service represents an individual obligation that the Company must perform when a seller chooses to use the service. On-site advertising services consist of cost-per-click fees an Etsy seller pays for prominent placement of her listings in search results in the Etsy.com marketplace. These fees are nonrefundable and are charged to a seller’s Etsy bill when the listing is clicked, at which time revenue is recognized. On-site advertising services, beginning in the second quarter of 2020 are referred to as “Etsy Ads,” and prior to the third quarter of 2019 were referred to as “Promoted Listings.” From the third quarter of 2019 to the beginning of the second quarter of 2020, Etsy offered a combined “Etsy Ads” offering. Under this offering, Etsy streamlined Promoted Listings and Google Shopping, an off-site marketing tool for Etsy sellers, into one unified ad platform, in which Etsy sellers could set a budget that allowed Etsy to allocate that budget between channels, targeting optimal return on seller spend. Revenue from this unified ad platform consisted of cost-per-click fees, which were nonrefundable and were charged to a seller’s Etsy bill when the ad was clicked. The revenue that the Company recognized related to the unified ad platform was recorded on a gross basis in Services revenue with an offsetting expense recorded in cost of revenue. During the second quarter of 2020, Etsy transitioned from the combined “Etsy Ads” on-site and offsite advertising offering to two separate advertising offerings: on-site advertising services referred to as “Etsy Ads” as described above (and formerly referred to as “Promoted Listings”) and reported in Services revenue, and Offsite Ads as reported in Marketplace revenue and referred to above in Marketplace revenue . Revenue from shipping labels consists of fees an Etsy seller pays the Company when she purchases shipping labels through its platform, net of the cost the Company incurs in purchasing those shipping labels. The Company provides its sellers access to purchase shipping labels at discounted pricing due to the volume of purchases through its platform. The Company recognizes shipping label revenue when an Etsy seller purchases a shipping label. The Company recognizes shipping label revenue on a net basis as it is an agent in this arrangement and does not take control of shipping labels prior to transferring the labels to the Etsy seller. Etsy shipping label revenue is recorded net of refunds. The Reverb and Elo7 marketplaces offer on-site advertising services. They, as well as the Depop marketplace, also offer shipping labels services. Each service represents an individual obligation that the Company must perform when a seller chooses to use the service. Advertising revenue is nonrefundable, while shipping label revenue is recorded net of refunds. Contract balances: The Company records deferred revenues when cash payments are received or due in advance of the completion of the four-month listing period, which represents the value of the Company’s unsatisfied performance obligations, unless the item is sold or the seller re-lists it, at which time any remaining listing fee is recognized. The amount of revenue recognized in the year ended December 31, 2021 that was included in the deferred balance at January 1, 2021 was $11.3 million. Cost of Revenue Cost of revenue primarily consists of the cost of interchange and other fees for credit card processing services, credit card verification service fees, credit card chargebacks to support payments revenue, and costs of refunds made to buyers that the Company is not able to collect from sellers. Cost of revenue also includes expenses associated with the operation and maintenance of the Company’s platforms, including employee compensation-related expenses, hosting and bandwidth costs, and depreciation and amortization. With the shift to the combined “Etsy Ads” offering from the third quarter of 2019 to the beginning of the second quarter of 2020, amounts spent on Google Shopping, which were previously recorded on a net basis in Services revenue, were recorded on a gross basis in Services revenue with an offsetting expense recorded in cost of revenue.
Marketing	MarketingMarketing expenses primarily consist of direct marketing expenses, which largely includes digital marketing and television ad and digital video expenses. Marketing expenses also include employee compensation-related expenses to support the Company’s marketing initiatives and amortization expense related to acquired customer relationship and trademark intangible assets.
Advertising	Advertising expenses are recognized as incurred, with the exception of certain production expenses related to television and display advertising which are deferred until the first time an advertisement airs or is published. If such advertising is not expected to occur, costs are expensed immediately.
Product Development	Product Development Product development expenses consist primarily of employee compensation-related expenses for engineering, product management, product design, and product research activities, net of costs capitalized to website development and internal-use software. Additional expenses include consulting costs related to the development, quality assurance, and testing of new technology and enhancement of the Company’s existing technology.
Stock-Based Compensation	Stock-Based Compensation Service-based stock options and restricted stock units (“RSUs”) are awarded to employees and members of the Company’s Board of Directors and performance-based restricted stock units (“PBRSUs”) are awarded to employees. All such awards are measured at fair value at each grant date. The PBRSUs include financial performance-based restricted stock units (“Financial PBRSUs”) and total shareholder return performance-based restricted stock units (“TSR PBRSUs”), both of which have performance and service vesting requirements. The Company recognizes forfeitures as they occur. The Company calculates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model and the expense is recognized over the requisite service period. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Starting in the second quarter of 2021, the Company updated certain assumptions used to determine the fair value of its stock options under the Black-Scholes option-pricing model, including the expected volatility and expected term assumptions. Given the Company’s sufficient trading history as of the second quarter of 2021, the Company calculates expected volatility based solely on the historical volatility of Etsy’s stock price observations over a period equivalent to the expected term of the stock option grants. Prior to the second quarter of 2021, the Company estimated expected volatility by taking the average historical price volatility for Etsy and certain industry peers. Further, given that the Company has sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term of its stock options, beginning in the second quarter of 2021, the Company estimates its expected term using historical option exercise behavior and expected post-vest cancellation data, averaged with an assumption that recently granted options will be exercised ratably from vesting to the expiration of the stock option. Prior to the second quarter of 2021, the Company used the simplified method to calculate the expected term for awards issued to employees or members of the Company’s Board of Directors. The fair value of RSUs is determined based on the closing price of the Company’s common stock on Nasdaq on the grant date. Additionally, the fair value of the Financial PBRSUs is determined using a probability assessment and the fair value of the TSR PBRSUs with market conditions is determined using a Monte-Carlo simulation model.
Foreign Currency	Foreign Currency The Company has determined that the functional currency for each of its foreign operations is the currency of the primary cash flow of the operations, which is generally the local currency in which the operation is located. All assets and liabilities are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Revenue and expenses are translated using average exchange rates during the period. Foreign currency translation adjustments are reflected in stockholders’ equity as a component of other comprehensive income (loss). Transaction gains and losses including intercompany balances denominated in a currency other than the functional currency of the entity involved are included in foreign exchange gain (loss) within other income (expense) in the Consolidated Statements of Operations.
Income Taxes	Income Taxes The income tax benefit is based on income before income taxes and is accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to settle. The Company recognizes future tax benefits, such as net operating losses and tax credits, to the extent that realizing these benefits is considered in its judgment to be more likely than not. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. The Company regularly reviews the recoverability of its deferred tax assets by considering its historic profitability, projected future taxable income, timing of the reversals of existing temporary differences and the feasibility of its tax planning strategies. Where appropriate, the Company records a valuation allowance against deferred tax assets that are deemed not more likely than not to be realizable. The Company records tax expense related to Global Intangible Low Taxed Income (“GILTI”) as a current period expense when incurred using the period cost method. The Company accounts for uncertainty in income taxes using a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by the taxing authorities. The amount recognized is measured as the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate audit settlement. The Company recognizes interest and penalties, if any, associated with income tax matters as part of the income tax provision and includes accrued interest and penalties with the related income tax liability in the Consolidated Balance Sheets.
Net Income Per Share	Net Income Per Share Basic net income per share attributable to common stockholders is computed by dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income per share is computed by dividing net income adjusted on an if-converted basis for the period by the weighted-average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying outstanding stock-based compensation awards and convertible senior notes using the treasury stock method or the if-converted method, as applicable, are included when calculating net income per share of common stock attributable to common stockholders when their effect is dilutive. The calculation of diluted net income per share excludes all anti-dilutive shares of common stock.
Segment Data	Segment Data The Company identifies operating segments as components of an entity for which discrete financial information is available and is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in making decisions regarding resource allocation and performance assessment. The Company’s CODM is its Chief Executive Officer. The Company has determined it has four operating segments, Etsy, Reverb, Depop, and Elo7, which qualify for aggregation as one reportable segment, for purposes of allocating resources and evaluating financial performance.
Cash and Cash Equivalents	Cash and Cash Equivalents, and Short- and Long-term InvestmentsThe Company considers all investments with an original maturity of three months or less at time of purchase to be cash equivalents. Cash restricted by third parties is not considered cash and cash equivalents.Restricted CashThe Company classifies any cash balances that are legally restricted as to withdrawal or usage as restricted cash on the Consolidated Balance Sheets.
Short- and Long-term Investments	Short-term investments, consisting of certificates of deposit, commercial paper, corporate bonds, and U.S. Government and agency securities with original maturities of greater than three months but less than one year when purchased, are classified as available-for-sale and are reported at fair value using the specific identification method. Long-term investments, consisting of corporate bonds and U.S. Government and agency securities with original maturities of greater than twelve months but less than 37 months when purchased, are classified as available-for-sale and are reported at fair value using the specific identification method. Unrealized gains and losses are excluded from earnings and reported as a component of other comprehensive income (loss), net of related tax (expense) benefit.
Restricted Cash	Restricted CashThe Company classifies any cash balances that are legally restricted as to withdrawal or usage as restricted cash on the Consolidated Balance Sheets.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, short- and long-term investments, and funds receivable and seller accounts. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, to the extent eligible, such amounts may exceed federally insured limits. The Company believes that minimal credit risk exists with respect to these investments due to the credit ratings of the financial institutions that hold its short- and long-term investments. In addition, funds receivable settle relatively quickly, and the Company’s historical experience of losses has not been significant.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Management believes that the fair value of financial instruments, consisting of cash and cash equivalents, short- and long-term investments, accounts receivable, funds receivable and seller accounts, accounts payable, and funds payable and amounts due to sellers approximates carrying value due to the immediate or short-term maturity associated with these instruments or the Company’s ability to liquidate these instruments at short notice with minimal penalties.
Accounts Receivable and Provision for Expected Credit Losses	Accounts Receivable and Provision for Expected Credit Losses The Company’s trade accounts receivable are recorded at amounts billed to sellers and are presented on the Consolidated Balance Sheets net of the provision for expected credit losses. The provision is determined by a number of factors, including age of the receivable, current economic conditions, historical losses, and management’s assessment of the financial condition of sellers. Receivables are written off once they are deemed uncollectible. Estimates of uncollectible accounts receivable are recorded to general and administrative expense.
Funds Receivable and Seller Accounts and Funds Payable and Amounts due to Sellers	Funds Receivable and Seller Accounts and Funds Payable and Amounts due to SellersThe Company records funds receivable and seller accounts and funds payable and amounts due to sellers as current assets and liabilities, respectively, on the Consolidated Balance Sheets. Funds receivable and seller accounts represent amounts received or expected to be received from buyers via third-party credit card processors, which flow through a bank account for payment to sellers. The receivable amount recorded to funds receivable and seller accounts is the same amount recorded to the funds payable and amounts due to sellers, the latter of which represents the total amount due to sellers. For the Depop marketplace only, the amounts received from buyers which is owed to the sellers is paid to the sellers at point of sale, and therefore no funds receivable and seller accounts and no funds payable and amounts due to sellers are recorded related to the Depop marketplace.
Property and Equipment	Property and Equipment Property and equipment, consisting principally of capitalized website development and internal-use software, building, leasehold improvements, and computer equipment, are recorded at cost. Depreciation and amortization begin at the time the asset is placed into service and is recognized using the straight-line method in amounts sufficient to relate the cost of depreciable and amortizable assets to the Consolidated Statements of Operations over their estimated useful lives. Repairs and maintenance are charged to the Consolidated Statements of Operations as incurred. Upon sale or retirement of assets, the cost and related accumulated depreciation or amortization are removed from the Consolidated Balance Sheet and the resulting gain or loss is reflected in the Consolidated Statement of Operations. When events or changes in circumstances require, the Company assesses the likelihood of recovering the cost of tangible long-lived assets based on its expectations of future profitability, undiscounted cash flows, and management’s plans with respect to operations to determine if the asset is impaired and subject to write-off. Measurement of any impairment loss is based on the excess of the carrying value of the asset over the fair value.
Website Development and Internal-use Software Costs	Website Development and Internal-use Software Costs Costs incurred to develop the Company’s website and software for internal-use are capitalized and amortized over the estimated useful life of the software, generally three If an asset will continue to be used, but the net book value is not expected to be fully recoverable, the asset is impaired to its fair value. When events or changes in circumstances require, the Company assesses the likelihood of recovering the cost of website development and internal-use software costs based on its expectations of future profitability, undiscounted cash flows, and its plans with respect to operations to determine if the asset is impaired and subject to write-off. Measurement of any impairment loss is based on the excess of the carrying value of the asset over the fair value. Capitalized website development and internal-use software costs are included in property and equipment, net within the Consolidated Balance Sheets.
Business Combinations	Business Combinations The Company accounts for business combinations using the acquisition method of accounting. If the assets acquired are not a business, the Company accounts for the transaction as an asset acquisition. Under both methods, the purchase price is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. The results of businesses acquired in a business combination are included in the Company’s consolidated financial statements from the date of acquisition. Acquisition-related expenses represent expenses incurred by the Company to effect a business combination, including expenses such as finder’s fees and advisory, legal, accounting, valuation, and other professional or consulting fees, and are not included as a component of consideration transferred, but are accounted for as an expense in the period in which the costs are incurred or the services are rendered.
Goodwill	Goodwill Goodwill represents the excess of the aggregate fair value of the consideration transferred in a business combination over the fair value of the assets acquired, net of liabilities assumed. The Company performs its annual goodwill impairment test during the fourth quarter or more frequently if events or changes in circumstances indicate that the goodwill may be impaired. Management has determined that the Company has four operating segments, Etsy, Reverb, Depop, and Elo7, which qualify for aggregation as one reportable segment, for purposes of allocating resources and evaluating financial performance, and each operating segment is determined to be a reporting unit. The Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, then additional impairment testing is not required. However, if the Company concludes otherwise, then it is required to perform a quantitative assessment for impairment. The quantitative assessment involves comparing the estimated fair value of the reporting unit with its respective book value, including goodwill. If the estimated fair value exceeds book value, goodwill is considered not to be impaired. If, however, the book value of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to the excess, not to exceed the total amount of goodwill allocated to that reporting unit.
Intangible Assets	Intangible Assets Finite intangible assets are amortized using the straight-line method over the estimated useful life of the asset. When events or changes in circumstances indicate the carrying amount may not be recoverable, the Company reviews the assets for impairment. The Company measures recoverability by comparing the carrying amounts to the future undiscounted cash flows that the assets or asset groups are expected to generate. If the carrying value of the assets are not recoverable, the impairment recognized is measured as the amount by which the carrying value of the asset exceeds its fair value.
Leases	Leases The Company’s lease arrangements generally include real estate and computer equipment assets. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. At lease commencement, the Company evaluates whether the arrangement is a finance or operating lease, and accounts for it accordingly. Operating leases are included in other assets, other current liabilities, and other liabilities on the Company’s Consolidated Balance Sheets. Finance leases are included in property and equipment, net, finance lease obligations, current, and finance lease obligations, net of current portion on the Company’s Consolidated Balance Sheets. Leases with a term greater than one year are recognized on the Consolidated Balance Sheets as right-of-use (“ROU”) assets, lease obligations, and, if applicable, long-term lease obligations in the financial statement line items cited above. The Company has elected not to recognize leases with terms of one year or less on the Consolidated Balance Sheets. Lease obligations and their corresponding ROU assets are recorded based on the present value of lease payments over the expected lease term. As the interest rate implicit in lease contracts is typically not readily determinable, the Company utilizes the appropriate incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Certain adjustments to the ROU asset may be required for items such as initial direct costs paid or incentives received. The lease term may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.
Contingencies	Contingencies The Company accrues for loss contingencies when losses become probable and are reasonably estimable. If the reasonable estimate of the loss is a range and no amount within the range is a better estimate, the minimum amount of the range is recorded as a liability. The Company does not accrue for contingent losses that, in its judgment, are considered to be reasonably possible, but not probable; however, it discloses the range of such reasonably possible losses.
Recently Issued Accounting Pronouncements and Recently Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08— Business Combinations (Topic 805)—Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification Topic 606— Revenue from Contracts with Customers (“ASC 606”). Under current GAAP, an acquirer generally recognizes assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. This ASU will result in the acquirer recording acquired contract assets and liabilities on the same basis that would have been recorded by the acquiree before the acquisition under ASC 606. The amendments in this ASU do not affect the accounting for other assets or liabilities that may arise from revenue contracts with customers in accordance with ASC 606, such as refund liabilities, or in a business combination, such as customer-related intangible assets and contract-based intangible assets. The new guidance is effective for annual and interim periods beginning after December 15, 2022. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. This update should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements. Recently Adopted Accounting Pronouncements In November 2021, the FASB issued ASU 2021-10— Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance , which requires business entities to make annual disclosures about transactions with a government. This could include various forms of government assistance, but excludes transactions in the scope of specific US GAAP, such as tax incentives accounted for under Accounting Standards Codification Topic 740, Income Taxes . For transactions in the scope of the new standard, business entities will need to provide information about the nature of the transaction, including the entity’s related accounting policy, the financial statement line items affected and the amounts reflected in the current period financial statements, as well as any significant terms and conditions. The new guidance is effective for all entities for annual reporting periods beginning after December 15, 2021. Early adoption is permitted. This update can be applied prospectively to all transactions within the scope of the amendments that are reflected in financial statements at the date of initial application and new transactions that are entered into after the date of initial application or retrospectively to those transactions. The Company early adopted this standard in the fourth quarter of 2021. The effect of this standard was not material to the Company’s Consolidated Financial Statements. In August 2020, the FASB issued ASU 2020-06— Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)—Accounting For Convertible Instruments and Contracts in an Entity's Own Equity (“ASU 2020-06”). ASU 2020-06 simplifies accounting for convertible instruments by removing major separation models previously required under GAAP. Consequently, more convertible debt instruments will be reported as a single liability instrument with no separate accounting for embedded conversion features through equity. Without an initial allocation of proceeds to the conversion option, the debt will likely have a lower discount, thereby resulting in less non-cash interest expense through accretion. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for it. ASU 2020-06 also simplifies the diluted net income per share calculation in certain areas. The new guidance is effective for annual and interim periods beginning after December 15, 2021, and early adoption is permitted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. This update permits the use of either the modified retrospective or fully retrospective method of transition. The Company early adopted this standard, effective as of January 1, 2021, on a modified retrospective basis. The adoption of this standard had a material effect on the Company’s Consolidated Financial Statements. The most significant effects related to the Notes, and included derecognition of the unamortized debt discount, which was recorded as a direct deduction from the Notes, resulting in an increase in long-term debt, net of approximately $264 million; derecognition of the equity component, which represents the value of the conversion option on the issuance date of the Notes outstanding, resulting in a reduction in additional paid-in capital of approximately $229 million, net of taxes; derecognition of deferred tax liabilities of approximately $63 million; and reversal of the cumulative debt discount recognized as interest expense in the Company’s Consolidated Statements of Operations since the date of issuance of each of the Notes to the period ending December 31, 2020, resulting in a decrease of accumulated deficit of approximately $28 million, net of taxes. The Company also had a reduction in interest expense due to the adoption of ASU 2020-06 as the debt discount has been derecognized and, effective January 1, 2021, there is no amortization of the debt discount. The Company did not incur any impact to liquidity or cash flows. When calculating net income per share of common stock attributable to common stockholders, the Company uses the if-converted method as required under ASU 2020-06 to determine the dilutive effect of the Notes.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable, Allowance for Credit Loss	The following table provides a rollforward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected (in thousands): Year Ended 2021 2020 2019 Balance as of the beginning of period $ 9,757 $ 5,033 $ 4,720 Provision for expected credit losses 16,031 15,033 10,963 Amounts written off, net of recoveries (18,058) (10,309) (10,650) Balance as of the end of period $ 7,730 $ 9,757 $ 5,033

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table summarizes revenue disaggregated by Marketplace revenue and optional Services revenue for the periods presented (in thousands): Year Ended December 31, 2021 2020 2019 Marketplace revenue $ 1,745,824 $ 1,303,126 $ 593,646 Services revenue 583,290 422,499 224,733 Revenue $ 2,329,114 $ 1,725,625 $ 818,379

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The following are the domestic and foreign components of the Company’s income before income taxes (in thousands): Year Ended 2021 2020 2019 United States $ 274,354 $ 206,481 $ 14,544 International 197,300 159,228 66,102 Income before income taxes $ 471,654 $ 365,709 $ 80,646
Income Tax Benefit	The income tax (benefit) provision is comprised of the following (in thousands): Year Ended 2021 2020 2019 Current: U.S. Federal $ 23,118 $ 4,854 $ (3,967) U.S. State 12,754 3,953 1,053 International 31,227 5,455 352 Total current 67,099 14,262 (2,562) Deferred: U.S. Federal (53,328) (7,684) (19,734) U.S. State (14,843) (4,543) (1,564) International (20,781) 14,428 8,612 Total deferred (88,952) 2,201 (12,686) Total income tax (benefit) provision $ (21,853) $ 16,463 $ (15,248)
Reconciliation of the Income Tax Benefit	A reconciliation of the income tax (benefit) provision at the U.S. federal statutory income tax rate to the Company’s total income tax (benefit) provision is as follows (in thousands): Year Ended 2021 2020 2019 Income tax provision at the federal statutory rate $ 99,047 $ 76,799 $ 16,936 State and local income taxes net of federal benefit 11,134 7,693 973 Foreign income tax rate differential (26,215) (13,193) (5,454) Stock-based compensation (83,207) (45,391) (16,281) Research and development credit (23,396) (15,156) (9,864) U.S. tax reform (1) (5,155) 3,923 (4,197) Non-deductible expenses 833 1,719 1,784 Non-deductible acquisition costs (2) 5,643 — 274 Other (2) (537) 69 581 Total income tax (benefit) provision $ (21,853) $ 16,463 $ (15,248) (1) On December 22, 2017, the U.S. government enacted the Tax Cuts and Jobs Act (“TCJA”) which includes significant changes to the taxation of business entities. These changes include, among others, (a) a permanent reduction to the corporate income tax rate, (b) GILTI, a new tax on worldwide income, and (c) Foreign Derived Intangible Income (“FDII”), a deduction provided with respect to certain foreign earned income. Effective January 1, 2018, the Company became subject to several provisions of the TCJA including computations under GILTI and FDII. For all years presented, the Company has accounted for the impact of the new TCJA provisions, as well as any adjustments with respect to the re-measurement of its deferred taxes if applicable, as part of its income tax benefit using the currently available regulations and technical guidance on the interpretations of the TCJA. The Company has elected to account for GILTI as a period cost. The Company is not currently subject to the Base Erosion and Anti-Abuse Tax (“BEAT”) or Section 163(j) Interest Limitation. The Company will continue to monitor the forthcoming regulations and additional guidance of the GILTI, FDII, and BEAT provisions under the TCJA, which are complex and subject to continuing regulatory interpretation by the Internal Revenue Service (“IRS”). (2) Certain prior year amounts, which are not material, have been reclassified to conform to current year presentation.
Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets (liabilities) are as follows (in thousands): As of December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 48,689 $ 3,087 Research and development credit carryforwards 367 10,925 Convertible debt 47,142 — Depreciation 47,055 — Lease liability 35,871 17,259 Stock-based compensation expense 19,319 9,616 Accrued bonus 11,850 8,592 Excess tax basis in intangible assets 1,585 1,223 Other deferred tax assets 14,651 4,645 Total deferred tax assets 226,529 55,347 Less: valuation allowance 1,834 1,398 Total net deferred tax asset 224,695 53,949 Deferred tax liabilities: Excess book basis in intangible assets (173,097) (37,155) Right-of-use asset (34,612) (16,092) Restructuring liability — (23,985) Convertible debt — (30,632) Depreciation — (4,210) Other deferred tax liabilities (607) (241) Total deferred tax liabilities (208,316) (112,315) Net deferred tax assets (liabilities) $ 16,379 $ (58,366)
Summary of Tax Credit Carryforwards	As of December 31, 2021, the Company had the following operating loss and tax credit carryforwards available to offset taxable income in future years (in thousands): December 31, 2021 Expiration Period U.S. Federal credit carryforwards $ 133 2038-2041 U.S. State net operating loss carryforwards 2,300 2034-Unlimited U.S. State credit carryforwards 681 2022-2031 Non-U.S. net operating loss carryforwards 190,161 Unlimited
Summary of Operating Loss Carryforwards	As of December 31, 2021, the Company had the following operating loss and tax credit carryforwards available to offset taxable income in future years (in thousands): December 31, 2021 Expiration Period U.S. Federal credit carryforwards $ 133 2038-2041 U.S. State net operating loss carryforwards 2,300 2034-Unlimited U.S. State credit carryforwards 681 2022-2031 Non-U.S. net operating loss carryforwards 190,161 Unlimited
Summary of Valuation Allowance	The following table summarizes the valuation allowance activity for the periods indicated (in thousands): Year Ended 2021 2020 2019 Balance as of the beginning of period $ 1,398 $ 883 $ 1,673 Additions charged to expense 580 506 504 Deletions credited to expense (112) (101) (4) Currency translation and other balance sheet activity (32) 110 (1,290) Balance as of the end of period $ 1,834 $ 1,398 $ 883
Schedule of Unrecognized Tax Benefits Activity	The following table summarizes the unrecognized tax benefit activity for the periods indicated (in thousands): As of December 31, 2021 2020 2019 Balance as of the beginning of period $ 23,738 $ 19,933 $ 18,819 Additions based on tax positions related to the current year 5,024 2,507 1,847 Additions for tax positions of prior years 122 1,576 3,620 Reductions for tax provisions of prior years — (278) (2,423) Lapse of statute of limitation — — (184) Additions recorded through goodwill as part of business combination — — 1,334 Settlements — — (3,080) Currency translation (42) — — Balance as of the end of period $ 28,842 $ 23,738 $ 19,933

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Method Used to Calculate Impact from Convertible Senior Notes on Earnings Per Share	The following table presents the method used when calculating the impact of the Company’s Notes on earnings per share for the periods presented: Year Ended 2021 2020 2019 2021 Notes If-Converted N/A N/A 2020 Notes If-Converted Treasury Stock N/A 2019 Notes If-Converted If-Converted Treasury Stock 2018 Notes If-Converted If-Converted If-Converted
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted net income per share for periods presented (in thousands, except share and per share amounts): Year Ended 2021 2020 2019 Numerator: Net income $ 493,507 $ 349,246 $ 95,894 Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes 4,900 17,880 — Net income attributable to common stockholders—diluted $ 498,407 $ 367,126 $ 95,894 Denominator: Weighted average common shares outstanding—basic 127,224,974 121,251,588 119,665,248 Dilutive effect of assumed conversion of options to purchase common stock 4,149,248 4,492,550 4,516,413 Dilutive effect of assumed conversion of restricted stock units 1,995,336 2,046,981 1,521,719 Dilutive effect of assumed conversion of convertible senior notes 13,313,766 8,623,473 — Diluted effective of assumed conversion of restricted stock from acquisition — — 16,693 Weighted average common shares outstanding—diluted 146,683,324 136,414,592 125,720,073 Net income per share attributable to common stockholders—basic $ 3.88 $ 2.88 $ 0.80 Net income per share attributable to common stockholders—diluted $ 3.40 $ 2.69 $ 0.76
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potential shares of common stock were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: Year Ended 2021 2020 2019 Stock options 149,683 3,711 317,401 Restricted stock units 584,033 71 706,234 Convertible senior notes — 8,625,771 9,511,993 Total anti-dilutive securities 733,716 8,629,553 10,535,628

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Price Allocation	The following table summarizes the allocation of the purchase price (at fair value) to the assets acquired and liabilities of Depop assumed as of July 12, 2021 (the date of acquisition) (in thousands): Preliminary Purchase Price Allocation (1) Measurement Period Adjustments (2) Final Purchase Price Allocation as Adjusted Estimated Useful Life (in years) Current assets $ 4,249 $ 39 $ 4,288 Property and equipment other 1,299 — 1,299 2-5 Developed technology 84,661 11,103 95,764 5 Trademark 245,657 4,163 249,820 20 Customer relationships 147,116 1,388 148,504 13 Goodwill 1,131,099 (12,244) 1,118,855 Indefinite Current liabilities (18,878) — (18,878) Non-current liabilities (3) (28,097) 140 (27,957) Deferred tax liability, net (74,283) (4,589) (78,872) Total purchase price $ 1,492,823 $ — $ 1,492,823 (1) As previously reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. This was the quarter in which the business combination was closed. (2) The Company recorded measurement period adjustments in the fourth quarter of fiscal 2021 as a result of the finalization of the third-party valuation report in the period. (3) Non-current liabilities are primarily related to non-income tax related contingency reserves. The following table summarizes the allocation of the purchase price (at fair value) to the assets acquired and liabilities assumed of Elo7 as of July 2, 2021 (the date of acquisition) (in thousands): Preliminary Purchase Price Allocation (1) Measurement Period Adjustments Final Purchase Price Allocation as Adjusted Estimated Useful Life (in years) Current assets $ 2,721 $ — $ 2,721 Developed technology 12,084 — 12,084 5 Trademark 22,187 — 22,187 15 Customer relationships 44,374 — 44,374 15 Goodwill 159,009 (1,822) 157,187 Indefinite Non-current assets 590 1,822 2,412 Current liabilities (3,406) — (3,406) Non-current liabilities (2,691) — (2,691) Deferred tax liability, net (22,727) — (22,727) Total purchase price $ 212,141 $ — $ 212,141 (1) As previously reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021. This was the quarter in which the business combination was closed. The following table summarizes the allocation of the purchase price (at fair value) to the assets acquired and liabilities assumed of Reverb as of August 15, 2019 (the date of acquisition) (in thousands): Final Purchase Price Allocation as Adjusted Estimated Useful Life (in years) Short-term investments $ 1,028 Other current assets (1) 2,902 Funds receivable and seller accounts 5,578 Property and equipment other 1,543 2 - 5 Developed technology 30,300 3 Trademark 79,400 15 Customer relationships 93,500 15 Goodwill 101,703 Indefinite Other assets (1) 6,743 Other net working capital (208) Funds payable and amounts due to sellers (5,578) Other current liabilities (1) (3,684) Other liabilities (1) (7,333) Deferred tax liability, net (1) (35,485) Total purchase price $ 270,409
Schedule of Unaudited Supplemental Pro Forma Information	The following unaudited pro forma summary presents consolidated information of the Company, including Depop and Elo7, as if the business combinations had occurred on January 1, 2020, and Reverb, as if the business combination had occurred on January 1, 2018 (in thousands): Year Ended December 31, 2021 2020 2019 Revenue $ 2,373,592 $ 1,801,690 $ 847,154 Net income 492,732 319,669 88,595

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the periods indicated (in thousands): Year Ended 2021 2020 Balance as of the beginning of the period $ 140,810 $ 138,731 Business combinations 1,276,042 — Foreign currency translation adjustments (45,788) 2,079 Balance as of the end of the period $ 1,371,064 $ 140,810
Schedule of Finite-Lived Intangible Assets	At December 31, 2021 and 2020, the gross book value and accumulated amortization of intangible assets were as follows (in thousands): As of December 31, 2021 Gross book Accumulated Net book Weighted-Average Trademark $ 342,753 $ (18,817) $ 323,936 17.8 Customer relationships 278,311 (21,243) 257,068 12.9 Referral agreement 36,109 (12,677) 23,432 6.5 Patent licenses 3,149 (415) 2,734 5.6 Intangible assets $ 660,322 $ (53,152) $ 607,170 15.2 As of December 31, 2020 Gross book Accumulated Net book Weighted-Average Trademark $ 79,400 $ (7,278) $ 72,122 13.6 Customer relationships 93,500 (8,571) 84,929 13.6 Referral agreement 39,042 (9,784) 29,258 7.5 Patent licenses 1,212 (72) 1,140 8.3 Intangible assets $ 213,154 $ (25,705) $ 187,449 12.6
Schedule of Future Amortization Expense	Based on amounts recorded at December 31, 2021, the Company estimates future amortization expense of intangible assets as follows (in thousands): 2022 $ 43,006 2023 43,006 2024 43,006 2025 43,006 2026 42,684 Thereafter 392,462 Total amortization expense $ 607,170

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Revenue from External Customers by Geographic Areas	The following table summarizes revenue by geographic area (in thousands): Year Ended 2021 2020 2019 United States $ 1,393,637 $ 1,150,725 $ 550,257 United Kingdom 329,203 195,827 72,471 Other non-U.S. 606,274 379,073 195,651 Revenue $ 2,329,114 $ 1,725,625 $ 818,379

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Major Categories of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table sets forth the cost, gross unrealized losses, gross unrealized gains, and fair values of the Company’s investments as of the dates indicated (in thousands): Cost Gross Gross Fair Value Cash and Cash Equivalents Short-term Investments Long-term Investments December 31, 2021 Cash $ 214,771 $ — $ — $ 214,771 $ 214,771 $ — $ — Level 1 Money market funds 556,427 — — 556,427 556,427 — — U.S. Government and agency securities 60,311 (55) 11 60,267 — 52,632 7,635 616,738 (55) 11 616,694 556,427 52,632 7,635 Level 2 Certificate of deposit 20,709 (7) 1 20,703 — 20,703 — Commercial paper 25,235 (14) 1 25,222 8,998 16,224 — Corporate bonds 192,727 (481) 10 192,256 — 114,857 77,399 238,671 (502) 12 238,181 8,998 151,784 77,399 $ 1,070,180 $ (557) $ 23 $ 1,069,646 $ 780,196 $ 204,416 $ 85,034 December 31, 2020 Cash $ 346,136 $ — $ — $ 346,136 $ 346,136 $ — $ — Level 1 Money market funds (1) 920,643 — — 920,643 881,465 — — U.S. Government and agency securities 410,371 (3) 358 410,726 — 376,089 34,637 1,331,014 (3) 358 1,331,369 881,465 376,089 34,637 Level 2 Certificate of deposit 12,746 — 5 12,751 6,000 6,751 — Commercial paper 14,494 — 4 14,498 10,498 4,000 — Corporate bonds 42,632 (7) 111 42,736 — 38,279 4,457 69,872 (7) 120 69,985 16,498 49,030 4,457 $ 1,747,022 $ (10) $ 478 $ 1,747,490 $ 1,244,099 $ 425,119 $ 39,094 (1) $39.2 million of money market funds were classified as funds receivable and seller accounts as of December 31, 2020.
Schedule of Estimated Fair Value Liability Component	The following table presents the carrying value and estimated fair value of the Notes as of the dates indicated (in thousands): As of December 31, 2021 As of December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value 2021 Notes $ 987,729 $ 1,165,519 $ — $ — 2020 Notes (1) 643,237 862,774 511,733 $ 536,126 2019 Notes (1) 644,390 1,644,869 514,035 566,399 2018 Notes (1) 62 375 39,166 42,157 $ 2,275,418 $ 3,673,537 $ 1,064,934 $ 1,144,682 (1) Upon adoption of ASU 2020-06 as of January 1, 2021, the carrying value of the Notes increased due to the derecognition of the unamortized debt discount, as described in “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Recently Adopted Accounting Pronouncements.” The increase in the carrying value of the 2018 Notes was offset by the conversion of $43.9 million of the 2018 Notes in the year ended December 31, 2021. See “Note 12—Debt” for additional information.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of the dates indicated (in thousands): As of December 31, Estimated useful lives 2021 2020 Computer equipment 3 years $ 8,037 $ 32,686 Furniture and equipment 2 - 4 years 7,170 7,468 Leasehold improvements Shorter of life of asset or lease term 48,145 50,765 Construction in progress Not applicable 10,835 633 Building Lease term 133,063 66,650 Website development and internal-use software 3 - 5 years 224,855 113,064 432,105 271,266 Less: Accumulated depreciation and amortization 157,043 158,771 $ 275,062 $ 112,495

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Lease Expense, Weighted Averages and Supplemental Cash Flow Information	For the years ended December 31, 2021, 2020, and 2019, the elements of lease expense were as follows (in thousands): Year Ended 2021 2020 2019 Operating lease cost $ 6,320 $ 5,847 $ 5,405 Finance lease cost: Amortization of right-of-use assets 9,139 10,190 13,124 Interest on lease liabilities 3,044 2,576 3,205 Total finance lease cost 12,183 12,766 16,329 Other lease cost, net (1) 1,193 1,322 1,149 Total lease cost $ 19,696 $ 19,935 $ 22,883 (1) Other lease cost, net includes short-term sublease income, short-term lease costs, and variable lease costs. The following table presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheets (in thousands): As of December 31, 2021 (1) 2020 Operating leases: Other assets $ 45,951 $ 19,563 Other current liabilities $ 4,018 $ 4,516 Other liabilities 43,746 17,202 Total operating lease liabilities $ 47,764 $ 21,718 Finance leases: Property and equipment, net $ 109,131 $ 50,261 Finance lease obligations—current $ 2,418 $ 8,537 Finance lease obligations—net of current portion 110,283 44,979 Total finance lease liabilities $ 112,701 $ 53,516 (1) In October 2021, the Company entered into a First Amendment to Lease (the "First Amendment") related to the Company's corporate headquarters in Brooklyn, New York, a portion of which is accounted for as a finance lease and a portion as an operating lease. The First Amendment extended the expiration of the term of the current lease from July 31, 2026 to July 31, 2039 and resulted in increases to the Company’s ROU assets, property and equipment, net, and the lease liabilities related to the Company's operating and finance leases. The following table summarizes the weighted average remaining lease term and weighted average discount rate as of December 31, 2021 and 2020: As of December 31, 2021 2020 Weighted average remaining lease term: Operating leases 14.67 years 4.85 years Finance leases 17.41 years 5.47 years Weighted average discount rate: Operating leases 4.46 % 4.26 % Finance leases 4.72 % 4.26 %
Schedule of Cash Flow Activities, Lessee	Supplemental cash flow information related to leases was as follows (in thousands): Year Ended 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in operating leases $ (6,442) $ (5,519) $ (4,889) Operating cash flows used in finance leases (3,025) (2,551) (3,181) Finance cash flows used in finance leases (8,864) (9,211) (10,833)
Schedule of Future Minimum Operating Lease Payments	Future minimum lease payments under non-cancelable leases as of December 31, 2021 were as follows (in thousands): Operating Leases Finance Leases 2022 $ 5,723 $ 6,917 2023 6,792 9,815 2024 5,806 10,897 2025 6,173 10,759 2026 1,297 100 Thereafter 41,837 135,879 Total future minimum lease payments (1) 67,628 174,367 Less: Imputed interest 19,864 61,666 Total $ 47,764 $ 112,701 (1) The First Amendment includes a tenant allowance, a portion of which becomes available beginning in April 2022, rent concessions that become available beginning in 2026, and escalating commitments each contract year between 2028 and 2038, which are reflected in the future minimum lease payments.
Schedule of Future Minimum Finance Lease Payments	Future minimum lease payments under non-cancelable leases as of December 31, 2021 were as follows (in thousands): Operating Leases Finance Leases 2022 $ 5,723 $ 6,917 2023 6,792 9,815 2024 5,806 10,897 2025 6,173 10,759 2026 1,297 100 Thereafter 41,837 135,879 Total future minimum lease payments (1) 67,628 174,367 Less: Imputed interest 19,864 61,666 Total $ 47,764 $ 112,701 (1) The First Amendment includes a tenant allowance, a portion of which becomes available beginning in April 2022, rent concessions that become available beginning in 2026, and escalating commitments each contract year between 2028 and 2038, which are reflected in the future minimum lease payments.

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses consisted of the following as of the dates indicated (in thousands): As of December 31, 2021 2020 Pass-through marketplace tax collection obligation $ 136,360 $ 109,662 Vendor accruals 115,593 73,437 Employee compensation-related liabilities 66,477 43,879 Taxes payable 9,688 5,374 Total accrued expenses $ 328,118 $ 232,352

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the outstanding principal amount and carrying value of the Notes as of the dates indicated (in thousands): As of December 31, 2021 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ 1,000,000 $ 650,000 $ 649,958 $ 62 $ 2,300,020 Unamortized debt issuance costs 12,271 6,763 5,568 — 24,602 Net carrying value (1) $ 987,729 $ 643,237 $ 644,390 $ 62 $ 2,275,418 As of December 31, 2020 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Principal $ — $ 650,000 $ 650,000 $ 43,915 $ 1,343,915 Unamortized debt discount (1) — 130,308 129,224 4,286 263,818 Unamortized debt issuance costs — 7,959 6,741 463 15,163 Net carrying value $ — $ 511,733 $ 514,035 $ 39,166 $ 1,064,934 (1) Upon adoption of ASU 2020-06 as of January 1, 2021, the unamortized debt discount balance was derecognized, as described in “Note 1—Basis of Presentation and Summary of Significant Accounting Policies—Recently Adopted Accounting Pronouncements.”
Schedule of Interest Expense	Interest expense related to each of the Notes for the periods presented below was as follows (in thousands): Year Ended 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Total interest expense (1) $ 2,411 $ 2,006 $ 1,985 $ 44 $ 6,446 Year Ended 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Coupon interest and amortization of debt issuance costs $ — $ 660 $ 1,843 $ 1,070 $ 3,573 Amortization of debt discount — 6,081 19,598 9,917 35,596 Total interest expense $ — $ 6,741 $ 21,441 $ 10,987 $ 39,169 Year Ended 2021 Notes 2020 Notes 2019 Notes 2018 Notes Total Coupon interest and amortization of debt issuance costs $ — $ — $ 489 $ 1,484 $ 1,973 Amortization of debt discount — — 5,142 13,747 18,889 Total interest expense $ — $ — $ 5,631 $ 15,231 $ 20,862

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Summary of Purchase Obligations	The following table represents the Company’s commitments under its purchase obligations as of December 31, 2021 (in thousands): Purchase Obligations Periods ending 2022 $ 79,567 2023 97,178 2024 111,000 2025 130,000 2026 70,000 Thereafter — Total purchase obligations $ 487,745

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Summary of Activity of Shares Repurchases	The following table summarizes the Company’s stock repurchase activity related to the programs noted above: Shares Repurchased Average Price Paid per Share (1) Repurchases of common stock for the year ended December 31, 2021 554,718 $ 221.33 Repurchases of common stock for the year ended December 31, 2020 1,161,947 88.20 Repurchases of common stock for the year ended December 31, 2019 1,008,211 52.06 (1) Average price paid per share excludes broker commissions. Value of shares repurchased includes broker commissions.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of options granted in each year using the Black-Scholes pricing model has been based on the following assumptions: Year Ended 2021 2020 2019 Volatility 43.4% - 57.4% 38.9% - 41.7% 39.1% - 39.5% Risk-free interest rate 0.8% - 1.2% 0.3% - 1.7% 1.6% - 2.5% Expected term (in years) 4.6 - 6.2 5.5 - 6.2 5.5 - 6.2
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes the activity for the Company’s options (in thousands, except share and per share amounts): Shares Weighted-Average Weighted-Average Aggregate Outstanding at December 31, 2018 6,890,994 $ 12.91 7.94 $ 239,177 Granted 462,563 64.29 Exercised (840,835) 11.64 Forfeited/Canceled (217,803) 30.11 Outstanding at December 31, 2019 6,294,919 16.26 7.24 185,900 Granted 654,296 46.38 Exercised (1,834,773) 13.80 Forfeited/Canceled (14,490) 32.15 Outstanding at December 31, 2020 5,099,952 20.97 6.81 800,453 Granted 198,193 218.93 Exercised (994,456) 22.83 Forfeited/Canceled (29,964) 47.86 Outstanding at December 31, 2021 4,273,725 29.52 5.99 810,321 Total exercisable at December 31, 2021 3,497,104 16.72 5.52 707,278
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	The following table summarizes the weighted-average grant date fair value of options granted, intrinsic value of options exercised and fair value of awards vested in periods indicated (in thousands, except per share amounts): Year Ended December 31, 2021 2020 2019 Weighted average grant date fair value of options granted $ 95.00 $ 18.18 $ 26.75 Intrinsic value of options exercised 206,709 151,785 42,758 Fair value of awards vested 96,592 60,622 41,997
Summary of the Activity of Unvested RSUs	The following table summarizes the activity for the Company’s unvested RSUs, which includes Financial PBRSUs and TSR PBRSUs: Shares Weighted-Average Unvested at December 31, 2018 3,480,368 $ 22.87 Granted 1,464,785 61.92 Vested (1,392,295) 22.67 Forfeited/Canceled (592,445) 31.25 Unvested at December 31, 2019 2,960,413 40.61 Granted 1,712,587 54.19 Vested (1,369,271) 35.36 Forfeited/Canceled (217,742) 43.27 Unvested at December 31, 2020 3,085,987 50.28 Granted (1) 2,136,685 208.84 Vested (1,400,241) 59.80 Forfeited/Canceled (315,710) 108.22 Unvested at December 31, 2021 3,506,721 137.87 (1) Includes RSU awards issued to Depop and Elo7 employees in connection with the acquisitions in the third quarter of 2021.
Schedule of Share-based Compensation, Allocation of Recognized Period Costs	Stock-based compensation expense included in the Consolidated Statements of Operations is as follows (in thousands): Year Ended 2021 2020 2019 Cost of revenue $ 13,085 $ 7,731 $ 5,787 Marketing 11,339 5,184 3,774 Product development 58,900 33,030 21,085 General and administrative 56,586 19,169 13,749 Stock-based compensation expense $ 139,910 $ 65,114 $ 44,395

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Revenue Recognition (Details)	3 Months Ended	8 Months Ended	12 Months Ended
	Jun. 30, 2020platform	May 03, 2020platform	Dec. 31, 2021USD ($)	Dec. 31, 2019platform
Disaggregation of Revenue [Line Items]
Number of ad platforms | platform	2	1
Revenue recognized in the period | $			$ 11,300,000
Marketplace Revenue
Disaggregation of Revenue [Line Items]
Listing fee per item | $			$ 0.20
Period over which listing fee is recognized			4 months
Fee for each completed transaction, percent			5.00%
Marketplace Revenue | Reverb
Disaggregation of Revenue [Line Items]
Fee for each completed transaction, percent			5.00%
Marketplace Revenue | Elo7
Disaggregation of Revenue [Line Items]
Fee for each completed transaction, percent			7.00%
Marketplace Revenue | Depop
Disaggregation of Revenue [Line Items]
Fee for each completed transaction, percent			10.00%
Offsite Advertising | Minimum
Disaggregation of Revenue [Line Items]
Direct checkout fees, percent			12.00%
Offsite Advertising | Maximum
Disaggregation of Revenue [Line Items]
Direct checkout fees, percent			15.00%
Services
Disaggregation of Revenue [Line Items]
Number of unified ad platforms | platform				1
Etsy Payments Processing Fees | Minimum
Disaggregation of Revenue [Line Items]
Direct checkout fees, percent			3.00%
Etsy Payments Processing Fees | Maximum
Disaggregation of Revenue [Line Items]
Direct checkout fees, percent			4.50%

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Marketing (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advertising expense	$ 559.3	$ 442.2	$ 175.2

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies - Stock-Based Compensation (Details)	12 Months Ended
	Dec. 31, 2021
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	4 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	4 years

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Segment Data (Details)	12 Months Ended
	Dec. 31, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	4
Number of reportable segments	1

Basis of Presentation and Sum_8

Basis of Presentation and Summary of Significant Accounting Policies - Cash, Cash Equivalents and Short- and Long-term Investments (Details)	Dec. 31, 2021
Weighted Average
Debt Securities, Available-for-sale [Line Items]
Allowance-for-sale debt securities, investment maturity	12 months
Maximum
Debt Securities, Available-for-sale [Line Items]
Allowance-for-sale debt securities, investment maturity	37 months

Basis of Presentation and Sum_9

Basis of Presentation and Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 5,341	$ 5,341	$ 5,341	$ 5,341
Office Building
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 5,300	$ 5,300

Basis of Presentation and Su_10

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - Convertible Debt	Jun. 30, 2021	Aug. 31, 2020	Sep. 30, 2019	Mar. 31, 2018
2020 Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		0.125%
2019 Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			0.125%
2018 Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage				0.00%
2021 Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	0.25%

Basis of Presentation and Su_11

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Allowance Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of the beginning of period	$ 9,757	$ 5,033	$ 4,720
Provision for expected credit losses	16,031	15,033	10,963
Amounts written off, net of recoveries	(18,058)	(10,309)	(10,650)
Balance as of the end of period	$ 7,730	$ 9,757	$ 5,033

Basis of Presentation and Su_12

Basis of Presentation and Summary of Significant Accounting Policies - Website Development and Internal-use Software Costs (Details) - Developed technology	12 Months Ended
	Dec. 31, 2021
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years

Basis of Presentation and Su_13

Basis of Presentation and Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	4
Number of reportable segments	1

Basis of Presentation and Su_14

Basis of Presentation and Summary of Significant Accounting Policies - Recently Adopted Accounting Pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in long-term debt, net	$ 2,275,418		$ 1,062,299
Reduction in additional paid-in capital	(631,762)		(883,166)
Derecognition of deferred tax liabilities	(79,484)		(58,481)
Decrease in accumulated deficit	$ 71,744		$ (146,819)
Accounting Standards Update 2020-06
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in long-term debt, net		$ 264,000
Reduction in additional paid-in capital		(229,000)
Derecognition of deferred tax liabilities		(63,000)
Decrease in accumulated deficit		$ 28,000

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 2,329,114	$ 1,725,625	$ 818,379
Marketplace revenue
Disaggregation of Revenue [Line Items]
Revenue	1,745,824	1,303,126	593,646
Services revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 583,290	$ 422,499	$ 224,733

Income Taxes - Domestic and For

Income Taxes - Domestic and Foreign Components of Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ 274,354	$ 206,481	$ 14,544
International	197,300	159,228	66,102
Income before income taxes	$ 471,654	$ 365,709	$ 80,646

Income Taxes - Income Tax Benef

Income Taxes - Income Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
U.S. Federal	$ 23,118	$ 4,854	$ (3,967)
U.S. State	12,754	3,953	1,053
International	31,227	5,455	352
Total current	67,099	14,262	(2,562)
Deferred:
U.S. Federal	(53,328)	(7,684)	(19,734)
U.S. State	(14,843)	(4,543)	(1,564)
International	(20,781)	14,428	8,612
Total deferred	(88,952)	2,201	(12,686)
Total income tax (benefit) provision	$ (21,853)	$ 16,463	$ (15,248)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax (benefit) provision	$ (21,853)	$ 16,463	$ (15,248)
Effective income tax rate	(4.60%)	4.50%	(18.90%)
Undistributed earnings of non-U.S. subsidiaries considered to be indefinitely reinvested	$ 200,000
Unrecognized tax benefits	28,842	$ 23,738	$ 19,933	$ 18,819
Unrecognized tax benefits that would impact effective tax rate favorably	27,900
Reduction of gross unrecognized tax benefits that is reasonably possible in the next 12 months	$ 2,600

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the Income Tax Benefit at the U.S. Federal Statutory Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax provision at the federal statutory rate	$ 99,047	$ 76,799	$ 16,936
State and local income taxes net of federal benefit	11,134	7,693	973
Foreign income tax rate differential	(26,215)	(13,193)	(5,454)
Stock-based compensation	(83,207)	(45,391)	(16,281)
Research and development credit	(23,396)	(15,156)	(9,864)
U.S. tax reform	(5,155)	3,923	(4,197)
Non-deductible expenses	833	1,719	1,784
Non-deductible acquisition costs	5,643	0	274
Other	(537)	69	581
Total income tax (benefit) provision	$ (21,853)	$ 16,463	$ (15,248)

Income Taxes - Significant Comp

Income Taxes - Significant Component of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 48,689	$ 3,087
Research and development credit carryforwards	367	10,925
Convertible debt	47,142	0
Depreciation	47,055	0
Lease liability	35,871	17,259
Stock-based compensation expense	19,319	9,616
Accrued bonus	11,850	8,592
Excess tax basis in intangible assets	1,585	1,223
Other deferred tax assets	14,651	4,645
Total deferred tax assets	226,529	55,347
Less: valuation allowance	1,834	1,398
Total net deferred tax asset	224,695	53,949
Deferred tax liabilities:
Excess book basis in intangible assets	(173,097)	(37,155)
Right-of-use asset	(34,612)	(16,092)
Restructuring liability	0	(23,985)
Convertible debt	0	(30,632)
Depreciation	0	(4,210)
Other deferred tax liabilities	(607)	(241)
Total deferred tax liabilities	(208,316)	(112,315)
Net deferred tax assets (liabilities)	$ 16,379
Net deferred tax assets (liabilities)		$ (58,366)

Income Taxes - Summary of Tax C

Income Taxes - Summary of Tax Credit Carryforwards and Operating Loss Carryforwards (Details) $ in Thousands	Dec. 31, 2021USD ($)
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 133
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2,300
Tax credit carryforwards	681
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 190,161

Income Taxes - Summary of Valua

Income Taxes - Summary of Valuation Allowance Activity (Details) - Valuation Allowance of Deferred Tax Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance as of the beginning of period	$ 1,398	$ 883	$ 1,673
Additions charged to expense	580	506	504
Deletions credited to expense	(112)	(101)	(4)
Currency translation and other balance sheet activity	(32)	110	(1,290)
Balance as of the end of period	$ 1,834	$ 1,398	$ 883

Income Taxes - Summary of Unrec

Income Taxes - Summary of Unrecognized Tax Benefits Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of the beginning of period	$ 23,738	$ 19,933	$ 18,819
Additions based on tax positions related to the current year	5,024	2,507	1,847
Additions for tax positions of prior years	122	1,576	3,620
Reductions for tax provisions of prior years	0	(278)	(2,423)
Lapse of statute of limitation	0	0	(184)
Additions recorded through goodwill as part of business combination	0	0	1,334
Settlements	0	0	(3,080)
Currency translation	(42)	0	0
Balance as of the end of period	$ 28,842	$ 23,738	$ 19,933

Net Income Per Share - Calculat

Net Income Per Share - Calculation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income	$ 493,507	$ 349,246	$ 95,894
Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes	4,900	17,880	0
Net income attributable to common stockholders—diluted	$ 498,407	$ 367,126	$ 95,894
Denominator:
Weighted average common shares outstanding—basic (in shares)	127,224,974	121,251,588	119,665,248
Weighted average common shares outstanding—diluted (in shares)	146,683,324	136,414,592	125,720,073
Net income per share attributable to common stockholders—basic (in shares)	$ 3.88	$ 2.88	$ 0.80
Net income per share attributable to common stockholders—diluted (in shares)	$ 3.40	$ 2.69	$ 0.76
Common Stock
Denominator:
Dilutive effect of assumed conversion (in shares)	4,149,248	4,492,550	4,516,413
Restricted stock units
Denominator:
Dilutive effect of assumed conversion (in shares)	1,995,336	2,046,981	1,521,719
Convertible senior notes
Denominator:
Dilutive effect of assumed conversion of convertible senior notes	13,313,766	8,623,473	0
Restricted Stock
Denominator:
Dilutive effect of assumed conversion (in shares)	0	0	16,693

Net Income Per Share - Summary

Net Income Per Share - Summary of Shares Excluded from the Calculation of Diluted Net Income Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	733,716	8,629,553	10,535,628
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	149,683	3,711	317,401
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	584,033	71	706,234
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	0	8,625,771	9,511,993

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands	Jul. 12, 2021	Jul. 02, 2021	Aug. 15, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Cash consideration paid						$ 1,699,974	$ 0	$ 270,409
Revenue						2,329,114	1,725,625	818,379
Net loss						(493,507)	(349,246)	(95,894)
Depop
Business Acquisition [Line Items]
Fair value of consideration transferred	$ 1,493,000
Cash consideration paid	1,489,000
Precombination service awards, replacement awards	$ 4,800
Elo7
Business Acquisition [Line Items]
Fair value of consideration transferred		$ 212,100
Cash consideration paid		211,300
Precombination service awards, replacement awards		$ 800
Depop And Elo7
Business Acquisition [Line Items]
Revenue					$ 36,700
Net loss					$ 59,100
Acquisition-related expenses						36,700
Net income						492,732	319,669
Depop And Elo7 | Acquisition-related Costs
Business Acquisition [Line Items]
Net income						$ (60,100)	2,400
Reverb
Business Acquisition [Line Items]
Cash consideration paid			$ 270,400
Revenue				$ 19,100
Net loss				$ 9,900
Acquisition-related expenses							$ 1,800	3,900
Net income								88,595
Reverb | Acquisition-related Costs
Business Acquisition [Line Items]
Net income								$ (6,100)

Business Combinations - Purchas

Business Combinations - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jul. 12, 2021	Jul. 02, 2021	Aug. 15, 2019	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill				$ 1,371,064	$ 1,371,064	$ 140,810	$ 138,731
Developed technology | Minimum
Business Acquisition [Line Items]
Estimated useful lives					3 years
Developed technology | Maximum
Business Acquisition [Line Items]
Estimated useful lives					5 years
Depop
Business Acquisition [Line Items]
Current assets	$ 4,249			4,288	$ 4,288
Current assets				39
Goodwill	1,131,099			1,118,855	1,118,855
Goodwill				(12,244)
Current liabilities	(18,878)			(18,878)	(18,878)
Non-current liabilities	(28,097)			(27,957)	(27,957)
Non-current liabilities				140
Deferred tax liability, net	(74,283)			(78,872)	(78,872)
Deferred tax liability, net				(4,589)
Total purchase price	1,492,823			1,492,823	1,492,823
Total purchase price				0
Depop | Trademark
Business Acquisition [Line Items]
Finite-lived intangibles	$ 245,657			249,820	249,820
Finite-lived intangibles				4,163
Estimated useful lives	20 years
Depop | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangibles	$ 147,116			148,504	148,504
Finite-lived intangibles				1,388
Estimated useful lives	13 years
Depop | Property and equipment other
Business Acquisition [Line Items]
Property and equipment other	$ 1,299			1,299	1,299
Depop | Property and equipment other | Minimum
Business Acquisition [Line Items]
Estimated useful lives	2 years
Depop | Property and equipment other | Maximum
Business Acquisition [Line Items]
Estimated useful lives	5 years
Depop | Developed technology
Business Acquisition [Line Items]
Property and equipment other	$ 84,661			95,764	95,764
Property and equipment other				11,103
Estimated useful lives	5 years
Elo7
Business Acquisition [Line Items]
Current assets		$ 2,721		2,721	2,721
Goodwill		159,009		157,187	157,187
Goodwill				(1,822)
Non-current assets		590		2,412	2,412
Non-current assets				1,822
Current liabilities		(3,406)		(3,406)	(3,406)
Non-current liabilities		(2,691)		(2,691)	(2,691)
Deferred tax liability, net		(22,727)		(22,727)	(22,727)
Total purchase price		212,141		212,141	212,141
Total purchase price				0
Elo7 | Trademark
Business Acquisition [Line Items]
Finite-lived intangibles		$ 22,187		22,187	22,187
Estimated useful lives		15 years
Elo7 | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangibles		$ 44,374		44,374	44,374
Estimated useful lives		15 years
Elo7 | Developed technology
Business Acquisition [Line Items]
Property and equipment other		$ 12,084		$ 12,084	$ 12,084
Estimated useful lives		5 years
Reverb
Business Acquisition [Line Items]
Short-term investments			$ 1,028
Current assets			2,902
Funds receivable and seller accounts			5,578
Goodwill			101,703
Non-current assets			6,743
Other net working capital			(208)
Funds payable and amounts due to sellers			(5,578)
Current liabilities			(3,684)
Non-current liabilities			(7,333)
Deferred tax liability, net			(35,485)
Total purchase price			270,409
Indemnification asset			5,500
Reverb | Trademark
Business Acquisition [Line Items]
Finite-lived intangibles			$ 79,400
Estimated useful lives			15 years
Reverb | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangibles			$ 93,500
Estimated useful lives			15 years
Reverb | Property and equipment other
Business Acquisition [Line Items]
Property and equipment other			$ 1,543
Reverb | Property and equipment other | Minimum
Business Acquisition [Line Items]
Estimated useful lives			2 years
Reverb | Property and equipment other | Maximum
Business Acquisition [Line Items]
Estimated useful lives			5 years
Reverb | Developed technology
Business Acquisition [Line Items]
Property and equipment other			$ 30,300
Estimated useful lives			3 years

Business Combinations - Unaudit

Business Combinations - Unaudited Supplemental Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depop And Elo7
Business Acquisition [Line Items]
Revenue	$ 2,373,592	$ 1,801,690
Net income	$ 492,732	$ 319,669
Reverb
Business Acquisition [Line Items]
Revenue			$ 847,154
Net income			$ 88,595

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Balance as of the beginning of the period	$ 140,810	$ 138,731
Business combinations	1,276,042	0
Foreign currency translation adjustments	(45,788)	2,079
Balance as of the end of the period	$ 1,371,064	$ 140,810

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 0	$ 0
Amortization expense of intangible assets	28,400,000	15,200,000	9,600,000
Impairment of intangible assets	$ 0	$ 0	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross book value	$ 660,322	$ 213,154
Accumulated amortization	(53,152)	(25,705)
Total amortization expense	$ 607,170	$ 187,449
Weighted-Average Remaining Life (in years)	15 years 2 months 12 days	12 years 7 months 6 days
Trademark
Finite-Lived Intangible Assets [Line Items]
Gross book value	$ 342,753	$ 79,400
Accumulated amortization	(18,817)	(7,278)
Total amortization expense	$ 323,936	$ 72,122
Weighted-Average Remaining Life (in years)	17 years 9 months 18 days	13 years 7 months 6 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross book value	$ 278,311	$ 93,500
Accumulated amortization	(21,243)	(8,571)
Total amortization expense	$ 257,068	$ 84,929
Weighted-Average Remaining Life (in years)	12 years 10 months 24 days	13 years 7 months 6 days
Referral agreement
Finite-Lived Intangible Assets [Line Items]
Gross book value	$ 36,109	$ 39,042
Accumulated amortization	(12,677)	(9,784)
Total amortization expense	$ 23,432	$ 29,258
Weighted-Average Remaining Life (in years)	6 years 6 months	7 years 6 months
Patent licenses
Finite-Lived Intangible Assets [Line Items]
Gross book value	$ 3,149	$ 1,212
Accumulated amortization	(415)	(72)
Total amortization expense	$ 2,734	$ 1,140
Weighted-Average Remaining Life (in years)	5 years 7 months 6 days	8 years 3 months 18 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Summary of Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 43,006
2023	43,006
2024	43,006
2025	43,006
2026	42,684
Thereafter	392,462
Total amortization expense	$ 607,170	$ 187,449

Segment and Geographic Inform_3

Segment and Geographic Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of operating segments	4
Number of reportable segments	1

Segment and Geographic Inform_4

Segment and Geographic Information - Schedules of Segment and Geographic Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue, Major Customer [Line Items]
Revenue	$ 2,329,114	$ 1,725,625	$ 818,379
United States
Revenue, Major Customer [Line Items]
Revenue	1,393,637	1,150,725	550,257
United Kingdom
Revenue, Major Customer [Line Items]
Revenue	329,203	195,827	72,471
Other non-U.S.
Revenue, Major Customer [Line Items]
Revenue	$ 606,274	$ 379,073	$ 195,651

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Major Categories of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	$ 1,070,180	$ 1,747,022
Gross Unrealized Holding Loss	(557)	(10)
Gross Unrealized Holding Gain	23	478
Fair Value	1,069,646	1,747,490
Cash and Cash Equivalents	780,196	1,244,099
Short-term Investments	204,416	425,119
Long-term Investments	85,034	39,094
Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	214,771	346,136
Gross Unrealized Holding Loss	0	0
Gross Unrealized Holding Gain	0	0
Fair Value	214,771	346,136
Cash and Cash Equivalents	214,771	346,136
Short-term Investments	0	0
Long-term Investments	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gross Unrealized Holding Loss		0
Gross Unrealized Holding Gain		4
Fair Value		14,498
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	616,738	1,331,014
Gross Unrealized Holding Loss	(55)	(3)
Gross Unrealized Holding Gain	11	358
Fair Value	616,694	1,331,369
Cash and Cash Equivalents	556,427	881,465
Short-term Investments	52,632	376,089
Long-term Investments	7,635	34,637
Fair Value, Inputs, Level 1 | Money Market Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	556,427	920,643
Gross Unrealized Holding Loss	0	0
Gross Unrealized Holding Gain	0	0
Fair Value	556,427	920,643
Cash and Cash Equivalents	556,427	881,465
Short-term Investments	0	0
Long-term Investments	0	0
Funds receivable and seller accounts		39,200
Fair Value, Inputs, Level 1 | U.S. Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	60,311	410,371
Gross Unrealized Holding Loss	(55)	(3)
Gross Unrealized Holding Gain	11	358
Fair Value	60,267	410,726
Cash and Cash Equivalents	0	0
Short-term Investments	52,632	376,089
Long-term Investments	7,635	34,637
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	238,671	69,872
Gross Unrealized Holding Loss	(502)	(7)
Gross Unrealized Holding Gain	12	120
Fair Value	238,181	69,985
Cash and Cash Equivalents	8,998	16,498
Short-term Investments	151,784	49,030
Long-term Investments	77,399	4,457
Fair Value, Inputs, Level 2 | Certificate of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	20,709	12,746
Gross Unrealized Holding Loss	(7)	0
Gross Unrealized Holding Gain	1	5
Fair Value	20,703	12,751
Cash and Cash Equivalents	0	6,000
Short-term Investments	20,703	6,751
Long-term Investments	0	0
Fair Value, Inputs, Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	25,235	14,494
Gross Unrealized Holding Loss	(14)
Gross Unrealized Holding Gain	1
Fair Value	25,222
Cash and Cash Equivalents	8,998	10,498
Short-term Investments	16,224	4,000
Long-term Investments	0	0
Fair Value, Inputs, Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cost	192,727	42,632
Gross Unrealized Holding Loss	(481)	(7)
Gross Unrealized Holding Gain	10	111
Fair Value	192,256	42,736
Cash and Cash Equivalents	0	0
Short-term Investments	114,857	38,279
Long-term Investments	$ 77,399	$ 4,457

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)	Dec. 31, 2021
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Allowance-for-sale debt securities, investment maturity	12 months
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Allowance-for-sale debt securities, investment maturity	37 months

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Estimated Fair Value Liability Component (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Settlement of convertible senior notes		$ 43,900	$ 137,168	$ 0
Convertible Debt | 2018 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Settlement of convertible senior notes	$ 137,200	43,900
Fair Value, Inputs, Level 2 | Carrying Value | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		2,275,418	1,064,934
Fair Value, Inputs, Level 2 | Carrying Value | Convertible Debt | 2021 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		987,729	0
Fair Value, Inputs, Level 2 | Carrying Value | Convertible Debt | 2020 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		643,237	511,733
Fair Value, Inputs, Level 2 | Carrying Value | Convertible Debt | 2019 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		644,390	514,035
Fair Value, Inputs, Level 2 | Carrying Value | Convertible Debt | 2018 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		62	39,166
Fair Value, Inputs, Level 2 | Fair Value | Convertible Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		3,673,537	1,144,682
Fair Value, Inputs, Level 2 | Fair Value | Convertible Debt | 2021 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		1,165,519	0
Fair Value, Inputs, Level 2 | Fair Value | Convertible Debt | 2020 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		862,774	536,126
Fair Value, Inputs, Level 2 | Fair Value | Convertible Debt | 2019 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		1,644,869	566,399
Fair Value, Inputs, Level 2 | Fair Value | Convertible Debt | 2018 Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		$ 375	$ 42,157

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 432,105	$ 271,266
Less: Accumulated depreciation and amortization	157,043	158,771
Property and equipment, net	$ 275,062	112,495
Computer equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Property and equipment, gross	$ 8,037	32,686
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,170	7,468
Furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	4 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 48,145	50,765
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,835	633
Building
Property, Plant and Equipment [Line Items]
Property and equipment, gross	133,063	66,650
Website development and internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 224,855	$ 113,064
Website development and internal-use software | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Website development and internal-use software | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation	$ 45.8	$ 43	$ 38.4
Developed technology
Property, Plant and Equipment [Line Items]
Amortization expense	$ 30	$ 22.6	$ 18.7

Leases - Elements of Lease Expe

Leases - Elements of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 6,320	$ 5,847	$ 5,405
Finance lease cost:
Amortization of right-of-use assets	9,139	10,190	13,124
Interest on lease liabilities	3,044	2,576	3,205
Total finance lease cost	12,183	12,766	16,329
Other lease income, net	1,193	1,322	1,149
Total lease cost	$ 19,696	$ 19,935	$ 22,883

Leases - Lease-related Assets a

Leases - Lease-related Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating leases:
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Other assets	$ 45,951	$ 19,563
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Other current liabilities	$ 4,018	$ 4,516
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Other liabilities	$ 43,746	$ 17,202
Total operating lease liabilities	$ 47,764	$ 21,718
Finance leases:
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net	Property and equipment, net
Property and equipment, net	$ 109,131	$ 50,261
Finance lease obligations—current	2,418	8,537
Finance lease obligations—net of current portion	110,283	44,979
Total finance lease liabilities	$ 112,701	$ 53,516

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Details)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted average remaining lease term, operating leases	14 years 8 months 1 day	4 years 10 months 6 days
Weighted average remaining lease term, finance leases	17 years 4 months 28 days	5 years 5 months 19 days
Weighted average discount rate, operating leases	4.46%	4.26%
Weighted average discount rate, finance leases	4.72%	4.26%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows used in operating leases	$ (6,442)	$ (5,519)	$ (4,889)
Operating cash flows used in finance leases	(3,025)	(2,551)	(3,181)
Finance cash flows used in finance leases	$ (8,864)	$ (9,211)	$ (10,833)

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Under Non-cancelable Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
2022	$ 5,723
2023	6,792
2024	5,806
2025	6,173
2026	1,297
Thereafter	41,837
Total future minimum lease payments	67,628
Imputed interest	19,864
Total operating lease liabilities	47,764	$ 21,718
Finance Leases
2022	6,917
2023	9,815
2024	10,897
2025	10,759
2026	100
Thereafter	135,879
Total future minimum lease payments	174,367
Imputed interest	61,666
Total finance lease liabilities	$ 112,701	$ 53,516

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Pass-through marketplace tax collection obligation	$ 136,360	$ 109,662
Vendor accruals	115,593	73,437
Employee compensation-related liabilities	66,477	43,879
Taxes payable	9,688	5,374
Total accrued expenses	$ 328,118	$ 232,352

Debt - 2021 Convertible Debt (D

Debt - 2021 Convertible Debt (Details) - Convertible Debt $ / shares in Units, $ in Thousands	1 Months Ended
	Jun. 30, 2021USD ($)day$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Principal | $		$ 2,300,020	$ 1,343,915
2021 Notes
Debt Instrument [Line Items]
Principal | $	$ 1,000,000	$ 1,000,000	$ 0
Proceeds from issuance of convertible senior notes | $	$ 986,700
Conversion ratio	0.0040518
Conversion price (in dollars per share) | $ / shares	$ 246.80
2021 Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold trading days	20
Threshold consecutive trading days	30
Threshold percentage of stock price trigger	130.00%
2021 Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Threshold trading days	5
Threshold consecutive trading days	10
Threshold percentage of stock price trigger	98.00%
2021 Notes | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price percent	100.00%

Debt - 2021 Capped Call Transac

Debt - 2021 Capped Call Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 08, 2021	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Purchase of capped calls			$ 85,000	$ 74,685	$ 76,180
Convertible Debt | 2021 Capped Call Transactions
Debt Instrument [Line Items]
Purchase of capped calls	$ 85,000
Transaction price cap (in dollars per share)	$ 340.42
Cap premium percentage over reported sales price		100.00%

Debt - 2020 Convertible Debt (D

Debt - 2020 Convertible Debt (Details) - Convertible Debt $ / shares in Units, $ in Thousands	1 Months Ended
	Aug. 31, 2020USD ($)day$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Debt instrument | $		$ 2,300,020	$ 1,343,915
Convertible Senior Notes Due 2027
Debt Instrument [Line Items]
Debt instrument | $	$ 650,000	$ 650,000	$ 650,000
Proceeds from issuance of convertible senior notes | $	$ 639,500
Conversion price (in dollars per share) | $ / shares	$ 199.97
Redemption price, percentage	100.00%
Conversion ratio	0.0050007
Convertible Senior Notes Due 2027 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold trading days	20
Threshold consecutive trading days	30
Threshold percentage of stock price trigger	130.00%
Convertible Senior Notes Due 2027 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Threshold trading days	5
Threshold consecutive trading days	10
Threshold percentage of stock price trigger	98.00%

Debt - 2020 Capped Call Transac

Debt - 2020 Capped Call Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 19, 2020	Aug. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Purchase of capped calls			$ 85,000	$ 74,685	$ 76,180
Convertible Debt | 2020 Capped Call Transactions
Debt Instrument [Line Items]
Purchase of capped calls		$ 74,700
Transaction price cap (in dollars per share)		$ 327.83
Cap premium percentage over reported sales price	150.00%

Debt - 2019 Convertible Debt (D

Debt - 2019 Convertible Debt (Details) - Convertible Debt $ / shares in Units, $ in Thousands	1 Months Ended
	Sep. 30, 2019USD ($)day$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Debt instrument | $		$ 2,300,020	$ 1,343,915
2019 Notes
Debt Instrument [Line Items]
Debt instrument | $	$ 650,000	$ 649,958	$ 650,000
Proceeds from issuance of convertible senior notes | $	$ 639,500
Conversion ratio	0.0114040
Conversion price (in dollars per share) | $ / shares	$ 87.69
Redemption price, percentage	100.00%
Debt Instrument, Redemption, Period One | 2019 Notes
Debt Instrument [Line Items]
Threshold trading days	20
Threshold consecutive trading days	30
Threshold percentage of stock price trigger	130.00%
Debt Instrument, Redemption, Period Two | 2019 Notes
Debt Instrument [Line Items]
Threshold trading days	5
Threshold consecutive trading days	10
Threshold percentage of stock price trigger	98.00%

Debt - 2019 Capped Call Transac

Debt - 2019 Capped Call Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 18, 2019	Sep. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Purchase of capped calls			$ 85,000	$ 74,685	$ 76,180
Convertible Debt | 2019 Capped Call Transactions
Debt Instrument [Line Items]
Purchase of capped calls		$ 76,200
Transaction price cap (in dollars per share)		$ 148.63
Cap premium percentage over reported sales price	150.00%

Debt - 2018 Convertible Debt (D

Debt - 2018 Convertible Debt (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)day$ / shares	Sep. 30, 2020USD ($)shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares
Debt Instrument [Line Items]
Settlement of convertible senior notes			$ 43,900	$ 137,168	$ 0
Shares repurchased (in shares) | shares			554,718	1,161,947	1,008,211
Value of shares repurchased			$ 302,774	$ 268,653	$ 176,985
Issuance of convertible senior notes, net of issuance costs and taxes				102,131	115,980
Loss on extinguishment of debt			0	(16,855)	$ 0
Convertible Debt
Debt Instrument [Line Items]
Debt instrument			2,300,020	1,343,915
Convertible Debt | 2018 Notes
Debt Instrument [Line Items]
Debt instrument	$ 345,000		62	$ 43,915
Proceeds from issuance of convertible senior notes	$ 335,000
Conversion ratio	0.0275691
Conversion price (in dollars per share) | $ / shares	$ 36.27
Redemption price, percentage	100.00%
Settlement of convertible senior notes		$ 137,200	$ 43,900
Debt conversion, converted instrument, (In Shares) | shares		7,300,000	1,000,000	7,300,000
Debt instrument conversion amount		$ 301,100	$ 43,900
Shares repurchased (in shares) | shares		1,300,000
Value of shares repurchased		$ 166,200
Issuance of convertible senior notes, net of issuance costs and taxes		143,200
Loss on extinguishment of debt		$ 16,900
Convertible Debt | 2018 Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold trading days | day	20
Threshold consecutive trading days | day	30
Threshold percentage of stock price trigger	130.00%
Convertible Debt | 2018 Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Threshold trading days | day	5
Threshold consecutive trading days | day	10
Threshold percentage of stock price trigger	98.00%

Debt - 2018 Capped Call Transac

Debt - 2018 Capped Call Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 08, 2018	Mar. 31, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Purchase of capped calls			$ 85,000	$ 74,685	$ 76,180
Convertible Debt | 2018 Capped Call Transactions
Debt Instrument [Line Items]
Purchase of capped calls		$ 34,200
Transaction price cap (in dollars per share)		$ 52.76
Cap premium percentage over reported sales price	100.00%

Debt - Convertible Debt, Schedu

Debt - Convertible Debt, Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020	Aug. 31, 2020	Sep. 30, 2019	Mar. 31, 2018
Debt Instrument [Line Items]
Net carrying value	$ 2,275,418		$ 1,062,299
Convertible Debt
Debt Instrument [Line Items]
Principal	2,300,020		1,343,915
Unamortized debt discount			263,818
Unamortized debt issuance costs	24,602		15,163
Net carrying value	2,275,418		1,064,934
Convertible Debt | 2021 Notes
Debt Instrument [Line Items]
Principal	1,000,000	$ 1,000,000	0
Unamortized debt discount			0
Unamortized debt issuance costs	12,271		0
Net carrying value	987,729		0
Convertible Debt | 2020 Notes
Debt Instrument [Line Items]
Principal	650,000		650,000	$ 650,000
Unamortized debt discount			130,308
Unamortized debt issuance costs	6,763		7,959
Net carrying value	643,237		511,733
Convertible Debt | 2019 Notes
Debt Instrument [Line Items]
Principal	649,958		650,000		$ 650,000
Unamortized debt discount			129,224
Unamortized debt issuance costs	5,568		6,741
Net carrying value	644,390		514,035
Convertible Debt | 2018 Notes
Debt Instrument [Line Items]
Principal	62		43,915			$ 345,000
Unamortized debt discount			4,286
Unamortized debt issuance costs	0		463
Net carrying value	$ 62		$ 39,166

Debt - Convertible Debt, Sche_2

Debt - Convertible Debt, Schedule of Interest Expense (Details) - Convertible Debt - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Non-cash interest expense	$ 6,446	$ 39,169	$ 20,862
Coupon interest and amortization of debt issuance costs		3,573	1,973
Amortization of debt discount		35,596	18,889
2021 Notes
Debt Instrument [Line Items]
Effective interest rate	0.40%
Non-cash interest expense	$ 2,411	0	0
Coupon interest and amortization of debt issuance costs		0	0
Amortization of debt discount		0	0
2020 Notes
Debt Instrument [Line Items]
Effective interest rate	0.30%
Non-cash interest expense	$ 2,006	6,741	0
Coupon interest and amortization of debt issuance costs		660	0
Amortization of debt discount		6,081	0
2019 Notes
Debt Instrument [Line Items]
Effective interest rate	0.30%
Non-cash interest expense	$ 1,985	21,441	5,631
Coupon interest and amortization of debt issuance costs		1,843	489
Amortization of debt discount		19,598	5,142
2018 Notes
Debt Instrument [Line Items]
Non-cash interest expense	$ 44	10,987	15,231
Coupon interest and amortization of debt issuance costs		1,070	1,484
Amortization of debt discount		$ 9,917	$ 13,747

Debt - 2019 Credit Agreement (D

Debt - 2019 Credit Agreement (Details) - Credit Agreement - USD ($) $ in Millions	Feb. 25, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Maximum required secured net leverage ratio	300.00%
Maximum required secured net leverage ratio, certain material acquisitions	350.00%
Minimum required interest coverage ratio	250.00%
Capitalization of debt issuance costs	$ 1.4
Unamortized debt issuance costs		$ 0.6	$ 0.9
Non-cash interest expense		0.3	0.3	$ 0.3
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	200
Maximum unrestricted cash	100
Contingent right to increase maximum borrowing capacity amount	$ 100
Line of credit facility, amount outstanding		$ 0	$ 0
Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Commitment fee amount	0.20%
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Commitment fee amount	0.35%
Revolving Credit Facility | Federal Funds Effective Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | One-Month London Interbank Offered Rate (LIBOR) Plus 1% | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.25%
Revolving Credit Facility | One-Month London Interbank Offered Rate (LIBOR) Plus 1% | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.875%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR), Adjusted | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR), Adjusted | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.875%
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 30
Bridge Loan
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity	$ 10

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Aug. 15, 2019
Loss Contingencies [Line Items]
Purchase obligation	$ 487,745
Purchase obligation, term	5 years
Reverb
Loss Contingencies [Line Items]
Indemnification asset			$ 5,500
Non-income Tax Obligations
Loss Contingencies [Line Items]
Non-income tax obligation reserve	$ 38,800	$ 8,000
Non-income Tax Obligations | Reverb
Loss Contingencies [Line Items]
Non-income tax obligation reserve	2,800	4,500
Indemnification asset	2,200	3,400
Deferred tax asset	600	$ 1,100
Non-income Tax Obligations | Depop And Elo7
Loss Contingencies [Line Items]
Non-income tax obligation reserve	29,500
Indemnification asset	$ 1,700

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Purchase Obligations (Details) $ in Thousands	Dec. 31, 2021USD ($)
Purchase Obligations
2022	$ 79,567
2023	97,178
2024	111,000
2025	130,000
2026	70,000
Thereafter	0
Total purchase obligations	$ 487,745

Stockholders' Equity - Common a

Stockholders' Equity - Common and Convertible Preferred Stock (Details)	12 Months Ended
	Dec. 31, 2021USD ($)vote$ / sharesshares	Dec. 31, 2020$ / sharesshares	Dec. 31, 2019shares	Dec. 31, 2018shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	1,400,000,000	1,400,000,000
Common stock, shares outstanding (in shares)	127,022,118	125,835,931
Common stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001
Common stock, votes per share of stock held | vote	1
Dividends declared for common stock | $	$ 0
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Convertible senior notes
Class of Stock [Line Items]
Convertible preferred stock outstanding (in shares)	0	0	0
Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	127,022,118	125,835,931	118,342,772	119,771,702

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchases Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Jun. 30, 2021	Sep. 30, 2019	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Nov. 01, 2018
Class of Stock [Line Items]
Authorized repurchase amount					$ 250,000		$ 200,000
Remaining Amount Authorized				$ 127,200
Stock repurchased (in shares)				554,718	1,161,947	1,008,211
Stock repurchased				$ 302,774	$ 268,653	$ 176,985
Convertible Debt | 2021 Notes
Class of Stock [Line Items]
Stock repurchased (in shares)	1,100,000
Stock repurchased	$ 180,000
Convertible Debt | 2018 Notes
Class of Stock [Line Items]
Stock repurchased (in shares)			1,300,000
Stock repurchased			$ 166,200
Debt instrument conversion amount			$ 301,100	$ 43,900
Convertible Debt | 2019 Notes
Class of Stock [Line Items]
Stock repurchased (in shares)		2,100,000
Stock repurchased		$ 124,500

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Activity of Shares Repurchases (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Shares repurchased (in shares)	554,718	1,161,947	1,008,211
Average Price Paid Per Share (in dollars per share)	$ 221.33	$ 88.20	$ 52.06

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details) - USD ($) $ in Millions	Jan. 03, 2022	Jul. 12, 2021	Jan. 04, 2021	Jan. 02, 2020	Jul. 31, 2021	Dec. 31, 2021	Dec. 31, 2021
Depop
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Weighted-average period for unrecognized compensation						2 years 6 months 10 days
Precombination service awards, replacement awards		$ 4.8
Unrecognized compensation						$ 33.9	$ 33.9
Depop | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred purchase price for post-combination share-based service arrangement		$ 44
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period						10 years
Award vesting period						4 years
Award vesting rights, percentage							25.00%
Interval vesting period						6 months
Award requisite service period						4 years
Unrecognized compensation						$ 24.9	$ 24.9
Weighted-average period for unrecognized compensation						2 years 7 months 24 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period						4 years
Award vesting rights, percentage							25.00%
Interval vesting period						6 months
Award requisite service period						4 years
Weighted-average period for unrecognized compensation						2 years 11 months 19 days
Unrecognized compensation						$ 427.3	$ 427.3
Restricted stock units | Depop And Elo7
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value of awards granted					$ 78.8
Precombination service awards, replacement awards					$ 5.6
Restricted stock units | Share-based Payment Arrangement, Tranche One | Depop And Elo7
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage					25.00%
Restricted stock units | Share-based Payment Arrangement, Tranche Two | Depop And Elo7
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage					75.00%
Financial Performance Based Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards that may be issued						0.00%
Financial Performance Based Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards that may be issued						200.00%
Total Shareholder Return Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award measurement period						3 years
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential annual share increase (in shares)						7,050,000
Percentage of outstanding stock						5.00%
Maximum number of additional shares issued annually (in shares)			6,291,797	5,917,139
Number of shares authorized (in shares)						44,040,744	44,040,744
Number of shares available for grant (in shares)						29,705,320	29,705,320
2015 Equity Incentive Plan | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of additional shares issued annually (in shares)	6,351,106

Stock-based Compensation - Fair

Stock-based Compensation - Fair Value of Options Granted Using the Black-Scholes Pricing Model (Details) - Stock options	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	43.40%	38.90%	39.10%
Risk-free interest rate	0.80%	0.30%	1.60%
Expected term	4 years 7 months 6 days	5 years 6 months	5 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	57.40%	41.70%	39.50%
Risk-free interest rate	1.20%	1.70%	2.50%
Expected term	6 years 2 months 12 days	6 years 2 months 12 days	6 years 2 months 12 days

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Outstanding, beginning balance (in shares)	5,099,952	6,294,919	6,890,994
Granted (in shares)	198,193	654,296	462,563
Exercised (in shares)	(994,456)	(1,834,773)	(840,835)
Forfeited/Cancelled (in shares)	(29,964)	(14,490)	(217,803)
Outstanding, ending balance (in shares)	4,273,725	5,099,952	6,294,919	6,890,994
Total exercisable at December 31, 2021, Shares (in shares)	3,497,104
Weighted-Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 20.97	$ 16.26	$ 12.91
Granted (in dollars per share)	218.93	46.38	64.29
Exercised (in dollars per share)	22.83	13.80	11.64
Forfeited/Cancelled (in dollars per share)	47.86	32.15	30.11
Outstanding, ending balance (in dollars per share)	29.52	$ 20.97	$ 16.26	$ 12.91
Total exercisable at December 31, 2019, Weighted-Average Exercise Price (in dollars per share)	$ 16.72
Weighted-Average Remaining Contract Term (in years)
Outstanding	5 years 11 months 26 days	6 years 9 months 21 days	7 years 2 months 26 days	7 years 11 months 8 days
Total exercisable	5 years 6 months 7 days
Aggregate Intrinsic Value
Outstanding	$ 810,321	$ 800,453	$ 185,900	$ 239,177
Total exercisable	$ 707,278

Stock-based Compensation - Weig

Stock-based Compensation - Weighted Average Grant Date Fair Value Options Granted and Awards Vested and Intrinsic Value of Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Weighted average grant date fair value of options granted (in shares)	$ 95	$ 18.18	$ 26.75
Intrinsic value of options exercised	$ 206,709	$ 151,785	$ 42,758
Fair value of awards vested	$ 96,592	$ 60,622	$ 41,997

Stock-based Compensation - Su_2

Stock-based Compensation - Summary of the Unvested RSUs (Details) - RSUs - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Unvested at beginning of period (in shares)	3,085,987	2,960,413	3,480,368
Granted (in shares)	2,136,685	1,712,587	1,464,785
Vested (in shares)	(1,400,241)	(1,369,271)	(1,392,295)
Forfeited/Canceled (in shares)	(315,710)	(217,742)	(592,445)
Unvested at period end (in shares)	3,506,721	3,085,987	2,960,413
Weighted-Average Fair Value
Unvested at beginning of period (in dollars per share)	$ 50.28	$ 40.61	$ 22.87
Granted (in dollars per share)	208.84	54.19	61.92
Vested (in dollars per share)	59.80	35.36	22.67
Forfeited/Canceled (in dollars per share)	108.22	43.27	31.25
Unvested at period end (in dollars per share)	$ 137.87	$ 50.28	$ 40.61

Stock-based Compensation - Allo

Stock-based Compensation - Allocated Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 139,910	$ 65,114	$ 44,395
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	13,085	7,731	5,787
Marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	11,339	5,184	3,774
Product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	58,900	33,030	21,085
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 56,586	$ 19,169	$ 13,749

Uncategorized Items - etsy-2021

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-02 [Member]