Etsy Divests Depop to eBay for $1.2B in Strategic Pivot
Etsy has agreed to sell its Gen Z-focused fashion marketplace Depop to eBay for $1.2 billion in cash, marking a significant retreat from its 2021 expansion strategy. The deal, which represents a $420 million loss on Etsy's initial purchase price, was met with investor enthusiasm as Etsy shares surged 17%.