Etsy Sells Secondhand Clothing Marketplace Depop to eBay for $1.2B

Etsy has sold its secondhand clothing marketplace Depop to eBay for $1.2 billion. The deal comes nearly five years after Etsy purchased Depop for $1.62 billion, at a time when secondhand clothing apps were gaining traction during the pandemic.

The acquisition is expected to strengthen eBay's position in the secondhand market, which has seen significant growth in recent years. Depop, which was founded in 2011, has become a popular platform for buying and selling secondhand clothing, with over 30 million users worldwide.

The sale of Depop to eBay is a significant development in the secondhand market, and it will be interesting to see how the platform evolves under new ownership. The deal is expected to close in the coming months, subject to regulatory approval.

Why it matters: The acquisition of Depop by eBay is a significant development in the secondhand market, and it will be interesting to see how the platform evolves under new ownership.

What's next: The deal is expected to close in the coming months, subject to regulatory approval.

Sources

[1] Etsy sells secondhand clothing marketplace Depop to eBay for $1.2B