Etsy has launched a new service that helps you decide what kind of gifts to buy for your friends using Facebook Connect. The gift ideas are based on the interests of your friends on Facebook. TTo find out what your friends are interested in, visit Etsy’s Gift Finder page at www.etsy.com/gifts/.

Online marketplace Etsy is experiencing yet another shakeup in its leadership lineup: founder Rob Kalin is stepping down from his role as CEO, to be replaced by current CTO Chad Dickerson. AllThingsD reports that Dickerson plans to make the company work “faster and more purposefully,” which will include, in his own words, “taking risks.”

Courtney Love, the lead singer for alternative rock band Hole and widow to the late Kurt Cobain, is in the middle of a lawsuit because of some tweets that she sent out. When Love got into a billing dispute with Dawn Simorangkir (Boudoir Queen), she wrote some verbal attacks on Twitter. Love had over 40,000 Twitter followers at the time. Love also wrote about Simorangkir on her Etsy account and MySpace account. Now Simorangkir claims that these comments have damaged her career and she is demanding multi-millions of dollars from Love. Love’s attorney is claiming that no hard was done to Simorangkir’s reputation.

Etsy is known as the “eBay for arts and crafts.” This year Etsy will be overseeing about $400 million worth of business of which $30-$50 million will be in company revenue from listing and processing fees. Etsy has been profitable for about a year now. Around November 2009, Etsy had processed about $130 million worth of business for that year. [BusinessInsider]

Etsy is an e-commerce service that has grown at a rapid pace. Etsy is especially popular with people who make crafts and sell them online. Recently Etsy raised $20 million in Series E with Index Ventures being the lead investor in this round. Danny Rimer of Index will be taking a position on Etsy’s board of directors as well.

Now you can make your bath time as fun as playing video games on the Xbox 360 with this soap sculpted and painted in the form of an Xbox 360 controller.  The soap is made of coconut oil, shea butter, palm oil, castor oil, sorbitol, sorbitan oleate, titanium dioxide, several other ingredients and fragrance.  It has the same scent as Mountain Dew, the drink that gamer’s prefer.  The product is currently sold out, but it normally sells for about $12 + shipping.  You can find it on Etsy.

The next time you swear and your parent gets ready to wash your mouth full of soap, make sure to request this soap.  They look just like animal crackers, but probably doesn’t taste as good.  They even come in a box that looks just like animal crackers too.  Yikes!  Want it?  $4.99 at Etsy.

[via NA]