Etsy sells Depop to eBay for $1.2B
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- Etsy announced a cash sale of Depop to eBay for about $1.2 billion, expected to close in Q2.
- Depop was acquired by Etsy in 2021 for $1.6 billion, now being sold at a discount.
- Etsy said the deal will let it concentrate on its core marketplace and grow it in ways that matter to buyers and sellers.
- Depop has 7 million active buyers, with nearly 90 % under age 34, highlighting its appeal to millennials and Gen Z.
- eBay said the acquisition will help it attract younger, fashion‑conscious shoppers and boost circular‑fashion shopping.
- Etsy's stock jumped 16.4 % after hours, while eBay's stock rose 5.8 % after hours.
- Etsy has been shedding non‑core assets, previously selling Reverb and Brazil’s Elo7.
Why it matters: eBay acquires a Gen‑Z‑focused fashion marketplace, giving it a foothold in circular‑fashion shopping, while Etsy can streamline operations around its primary handmade‑goods platform; the deal sparked a 5.8 % jump in eBay shares and a 16.4 % surge in Etsy shares.
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