Inside Etsy, Mr. Silverman’s reorganization has upended parts of the company once considered sacrosanct. Last month, Etsy changed its mission statement. Gone was a verbose commitment “to reimagine commerce in ways that build a more fulfilling and lasting world.” Instead, the mission was reduced to just three words, “Keep commerce human,” accompanied by a spreadsheet outlining its goals for economic, social and ecological impact. And because remaining a B Corp would require the company to change its legal standing in Delaware, where it is incorporated, Etsy will let that certification lapse.

Mr. Silverman insists Etsy is still a mission-driven company. Many of the perks remain in place, and the company is lobbying in Washington, including for the protection of net neutrality. But Mr. Silverman says Etsy’s greatest potential for impact is helping sellers — many of whom are women running small businesses — increase their sales. “The company had the best of intentions, but wasn’t great at tying that to impact,” Mr. Silverman said. “Being good doesn’t cut the mustard.”

On Glassdoor, the career reviews website, Etsy’s overall company rating has declined sharply since May. Many of the anonymous reviews portray a company in decline. After The New York Times asked Etsy about the ratings, a member of the human relations team asked employees to talk up the company on Glassdoor. In a matter of days, several new glowing reviews appeared with titles like “Why I love Etsy.”

Opportunities to Grow

On the afternoon of Nov. 6, Etsy reported strong quarterly earnings. Sales, revenues and adjusted profits were all up. In after-hours trading, Etsy shares spiked. When the markets opened the next morning, however, the stock slumped. The results, fine as they were, were not good enough.

Three days later, Mr. Silverman was back in the Etsytorium, addressing his staff. The quarter was proof that changes to the company were paying off, he said, suggesting that the tumult of the past six months had not been in vain. “The quarter that we just reported, that you all worked so hard to deliver, means so much to Etsy and to all the people who rely on us,” Mr. Silverman said. “I’m super fired up.”