Etsy first introduced the concept in February to its investors saying that the U.S. craft supplies business is worth $44 billion, and because it already sells crafting materials, it wanted a larger share of that market.
With the new Studio initiative, Etsy is attempting to bring the world's arts and crafts stores online, Venture Beat suggested.
Shares of the Brooklyn, NY.-based online marketplace were lower during midday trading on Tuesday.
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)