Etsy Just Bought an Electronics E-Tailer Called Grand St. Here's Why.

In the market for some “ bedphones ” -- a lightweight headset for sleeptime listening? Or perhaps you’re seeking a brand new iPhone case -- one that could, say, transform your smartphone into a Swiss Army Knife ?

These are the kinds of inventions -- and then some -- proliferating on Grand St., an online marketplace founded in Brooklyn in 2012, where indie hardware makers vend their cutting-edge creations.

And now, in addition to raising $1.3 million in seed funding and attracting hundreds of thousands of members, it has won the eye of a fellow Brooklyn behemoth that operates a strikingly similar business model: Etsy.

Related: Come August, Etsy Merchants Can Sell Directly to Retailers

Etsy CEO Chad Dickerson announced the company’s acquisition of Grand St. in a blog post yesterday. The transaction is rumored to be worth just under $10 million, according to Recode, comprising a mix of both cash and stock.

While Etsy does currently vend some electronics, the purchase implies that the crafty giant is staking a noted claim in the burgeoning homemade-tech sphere.

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Next week, Grand St.’s eight employees will move to Etsy headquarters, a spokeswoman confirmed to Recode, though the site will continue to operate separately for the foreseeable future.

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FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

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FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

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FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

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FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

“While this is a big step for us as a company, we plan to change very little about the site and your experience of Grand St. in the near term,” wrote Grand St. founder Amanda Peyton, a tech entrepreneur and Y-Combinator alumni, on the company’s blog.

Related: Make Your Own Luck and Get Acquired