Amazon Handmade

Amazon takes on Etsy. Handmade items crafted by artisans.

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I've been a big fan of Etsy for a while now, yet also continually impressed by the growth and experimentation coming out of Amazon, so this announcement is a bit bittersweet. But hey - as long as they're supporting creators, it's a good thing. Anyone know what sort of cut Amazon is taking?
Found this on ABC News: "Handmade at Amazon will take a 12 percent referral fee in exchange for listing the products and payment processing. Etsy charges its artisans 20 cents per listing, a 3.5 percent fee when a transaction is made and another 3 percent fee plus 25 cents for processing a payment, according to the company's website."
Ok seriously, Amazon is trying to conquer the world! What now? Open a brick-and-mortar store to take on Walmart and Target? I can't wait to see what else they have on their hands
@ivankreimer No different than Google and their massive amounts of experiments that overlap with existing businesses. The only winner is the user so I'm more than happy to see big companies iterating quickly and trying new ideas. The only loser is maybe their competition, but it will end with some heated competition and maybe some new features added to the existing solution.
If I were Etsy, I'd be really nervous! A big player in a smallish space. I hope Amazon doesn't bury Etsy and that they treat the craftspeople nicely. Wait and see I guess!
I also create my own brand of handmade goods!